How to continue progress after the government cuts down incentives for renewables in the UK Energy Market?
Renewables have grown from almost nothing a decade ago, to supplying more than a quarter of the UK’s power today, and are expected to increase their share further as costs fall and reach subsidy-free levels. But the variable nature of wind and solar power generation means that local energy networks and the National Grid need more flexibility to cope with those fluctuations. Batteries and the ability for energy firms to automatically reduce electricity demand from willing businesses and households are at the heart of a plan published by government and Ofgem.
The changes assume mainly the adoption of emerging smart appliances that could automatically turn down electricity use at peak times, and make it possible for companies to aggregate solar power from householders’ rooftops and sell it to local power grids when needed. Restart Energy Democracy (RED) ecosystem connects local renewable energy producers/prosumers to consumers directly using blockchain and smart contracts, allowing them to sell their energy at peak times.