Getting smart on smart grids
The Smart-grid has always been more talked about than done, but now the National Infrastructure Commission (NIC) has announced that the UK could save up to £8bn a year by using electricity smarter, bringing it up the news agenda.
The main benefit of a Smart Grid is that it can match supply and demand in an intelligent way – so, to take a if everybody gets up at half-time during a cup final and switches on the kettle then your fridge will hold off on firing up its compressor until the spike has gone. Likewise, you may benefit from cheaper electricity to charge your electric car overnight – and maybe sell some of that stored energy back to the grid at peak times. It would truly unlock what I call Energy 2.0 – when energy consumers become producers as well.
I’ve long argued that if the Government wants to make a Keynesian investment in infrastructure, then instead of the grandiose transport projects (which feature mature technologies), investment in a Smart Grid would stimulate a cascade of innovation given the technology is new and it would unlock further opportunities in renewable energy. But we seem bogged down in protocols when we need a revolution.
Lets get smart.