National Grid ESO are working on plans to operate a zero carbon electricity network by 2025. Smart and sustainable new markets will be essential for operating a carbon-free electricity system.
The new system will become more decentralised and where renewable and low-carbon technology dominates how we generate electricity, the way we travel and how we heat our homes. New technology will enable significant distributed and local generation, supported by energy storage and demand-side solutions.
Consumers will produce, store and sell energy in response to market signals, based on cost and carbon-intensity, through peer-to-peer trading, smart homes, and participation in our balancing and ancillary service markets advanced data and analytics change the way market participants interact with us and each other, and enable them to make more informed choices.
Of course, smart charging in the smart homes of the future will be a big way of storing energy. With the increasing roll-out of electric vehicles, it will be possible to charge millions of EV batteries overnight with cheap renewable energy from wind and then use this aggregated stored energy to smooth supply across a local energy network the following day. Work is already underway to lay the foundations for this smart energy system. As the volume of EVs and renewable capacity increases, there is a wide range of emerging technologies to support low cost integration.
|They Could Pay You...!|
For some time now I have been thinking about the big changes taking place around our energy system - both here in the UK and more widely - and then backing up some of this by investing into those areas which are likely to benefit. Of course there are never any guarantees but I have been building my 'green' portfolio with a range of investments which are likely to benefit from the transition to clean energy. So, a mix of renewable energy infrastructure trusts such as TRIG and UK Wind, the big global players such as Orsted and Vestas Wind and some smaller green hydrogen plays such as ITM Power and Ceres.
As ever, this article is merely a record of my personal thoughts and how I see the future developing and should not be regarded as an endorsement - always DYOR!