Powervault partners with AgileOctopus
Green Angel Syndicate's portfolio company, Powervault makes the news again with a groundbreaking smart energy trial with AgileOctopus
The following article was written by Phil Steele, Future Technologies Evangelist and published on the AgileOctopus website.
As we move towards an energy system where more of our power is generated ‘intermittently’ (AKA only when the wind blows, or the sun shines), we have to find new ways to make the most of those times when energy production is highest. We need to change our energy consumption habits to be more in line with when renewable generation is high, and find better ways of storing extra energy to use later when generation is low.
Our grid isn’t set up to do this – in fact, it was built to support a system powered by dirty fossil fuel sources that can be fired up and burnt all the time. We need a flexible, smart energy grid capable of maximising the potential of clean energy while keeping the grid balanced.
Customers with smart home batteries like Powervault have the unique ability to charge up from the electrical grid whenever renewables are abundant and the energy in our cables is at its very greenest. They can then take their homes ‘off-grid’ - running on those stored green electrons when demand is high and the national grid is under massive amounts of strain (and so more reliant on fossil fuel power).
But we’ve long said that the best way to drive global demand for green energy is to make sure the greenest electrons are also the cheapest. That’s where AgileOctopus comes in.
AgileOctopus’ pricing changes every half-hour, and is calculated on the moment-to-moment wholesale cost of energy (which varies based on national demand and fuel makeup). When the wind is blowing, or the sun is shining, and demand is low, AgileOctopus customers can use energy for incredibly low prices, and sometimes, even negative prices – yep, that’s right, we’ll literally pay you to use energy.