The way we distribute the bulk of our electricity, through a large hub and spoke grid, has remained largely unchanged for over a hundred years. While this served the world well in the past, it is no longer fit for purpose in the 21st century.
At Emergent we are creating the same capability for the electricity grid that underpinned the growth of the internet, namely a common information sharing protocol that developers used as the basis for innovation through a combination of smart software with new power flow management technology.
The core function of an electricity grid – the physical distribution of power to businesses and people – will not change. Reliability and security of supply will remain a priority. But the real opportunity lies in what else the grid will be able to do with the new platform in place.
New technology and societal demand for greener energy are already changing how electricity is generated and consumed at the margins of the grid- consider, for example, the recent growth in local community solar projects and technologies which allow people to remotely control smart devices in the home from mobile devices.
In future, prices for consumers will be kept down through greater competition, real time pricing and power flow management, and better grid utilisation. Regulations will evolve to enable new technologies to fulfil their potential, just as they have done so successfully in Telecommunications. Electricity security and supply guarantees will be greater, as energy is traded and made available through the mechanism of the market, and consumers will be able to buy and trade energy when prices are low and select the amount of electricity from renewable sources in real time.
And all will be made possible by the certainty and connectivity of a common platform – built by Emergent.
To learn more about the Emergent platform click HERE.