Tonik, Powervault to trial new smart energy storage tariff model in UK
Tonik Energy and Powervault announced a collaboration to assess the potential for a revolutionary new smart tariff model that could bring batteries into the mainstream in UK homes and significantly reduce bills.
The collaboration will see Powervault’s domestic storage units trialled with Tonik Energy customers who have smart meters as the duo evaluate the use of energy storage in conjunction with a smart tariff.
Through technology and data, Tonik Energy’s overarching ambition is to halve customers’ bills by 2022. This trial in collaboration with Powervault marks an important step towards this goal.
Their joint aim is to provide proof of concept for the UK’s first storage tariff that will enable householders to benefit from the ability to store energy drawn down at off-peak times.
Joe Warren, Managing Director, Powervault, says: “We exist to make a smarter way of life possible, by rethinking the way electricity is generated and consumed. Historically, domestic energy storage has been associated primarily with the 900,000 UK homes equipped with solar panels, but a much larger market is starting to emerge, enabled by the smart meter rollout.”
The government aims to have smart meters universally installed in UK homes by 2020, providing a gateway to intelligent tariffs via in-home battery storage units that will drastically reduce the homeowner's bills.
By automatically charging when demand is low and electricity is cheap – at night, for example – and discharging during peak times, Powervault could cut the homeowner’s electricity bills by up to 35%.
This collaboration highlights the opportunity for energy suppliers and domestic energy storage companies to work together to put the benefits of battery storage directly into the hands of the consumer.
Tonik Energy and Powervault’s joint ambition turns the old energy supply model on its head by encouraging customers to use cheaper electricity, and in turn, pay less. This ambition is aligned with both companies’ desire to lead innovation in the energy sector.
Chris Russell, Managing Director, Tonik Energy, says, “We established Tonik Energy to give homeowners the power to significantly reduce their energy bills, and to make renewable energy more accessible. The next decade is going to see huge change as homeowners get genuine insight into energy usage combined with access to smart, in-home, energy efficient technologies that will help you use less energy, access cheaper energy and generate your own energy. It is hugely exciting, therefore, to be collaborating with a like-minded company such as Powervault, who shares our ambition to be at the forefront of this move towards a more sustainable future. We believe it is entirely possible for the customer to save money and be good to the planet without compromising on home comforts.”
Source: Company Press Release