Electricity shake-up could save consumers ‘up to £40bn’ thanks to battery storage and new innovations

Consumers in the UK could save billions of pounds thanks to major changes in the way electricity is made, used and stored, the government has said.

battery storage BYD

New rules will make it easier for people to generate their own power with solar panels, store it in batteries and sell it to the National Grid.

If they work, consumers will save £17bn to £40bn by 2050, according to the government and energy regulator Ofgem. The rules are due to come into effect over the next year.

Among the first to gain from the rule changes will be people with solar panels and battery storage. At the moment they are charged tariffs when they import electricity into their home or export it back to the grid.

The government has realised that this rule must change because it deters people from using power more flexibly in a way that will benefit everyone.

NEW IMPROVEMENTS TO INNOVATIONS

Thanks to improvements in digital technology, battery storage and renewables, these innovations in flexibility are already under way with millions of people across the UK generating and storing electricity. The new rules have been designed to cash in on this.

The government will set up a “battery institute” to fund firms seeking major breakthroughs in battery research and development.

MDownes Earthworks continues to supply and erect storage barns for Anesco Ltd, who provide 19MW of energy storage in the UK to date, with a further 165MW in the pipeline. See below our latest Battery Barn…

battery barn

BATTERIES BY BYD LTD

BYD

The high efficiency of BYD energy storage system is ensured by the advanced Fe battery technology and the intelligent Battery Management System. For more information on the batteries visit www.byd.com

Mdownes Earthworks understand how new technologies and commercial models can work to help people improve their energy usage and save money, while overall helping to reduce the world’s carbon emissions.

 

 

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