A project aimed at innovative solutions for electricity demand management in the country has boosted the prize for its competition.
Dynamic Demand Challenge – run by Nesta, Imperial College London and the National Physics Laboratory (NPL) – was initially offering £50,000 for entrepreneurs who can offer the best technology that demonstrates a shift in demand to off peak times or help demand match supply from renewable energy generation.
The competition has now been awarded an extra £125,000 from the EU-backed Climate-KIC programme. The cash will be used to further develop the technology into “close-to-market” products, with shortlisted entrants being able to test their technologies at NPL’s Centre for Carbon Measurement facility and receive assistance from experts to build their ideas.
Jane Burston, Head of the Centre for Carbon Measurement at NPL said: “Climate change and a secure, clean energy supply are two of the biggest challenges of our time. Balancing demand is a critical step in supporting the shift in supply towards renewable generation. This will only be successful with engaging tools and technologies we want to use in our homes and offices.
“The support from Climate-KIC will help to develop such tools by ensuring that all the ideas submitted to the Challenge are tested and measured in leading facilities by experts. The result will be a range of products and prototypes that are close to market-readiness and of interest to investors and buyers.”
The competition is open to anyone from the EU but the solution needs to be applied within a UK context. Deadline for entries is the 9th of September.
Earlier this year, National Grid proposed for businesses to consider reducing their energy usage during peak demand time to help balance the UK power grid, which has been implemented by some firms and received mixed reactions from the public.