equiwatt - climatetech innovation to benefit all
by Startacus Admin
Innovation that matters - equiwatt, the startup that's on a mission to make clean energy more affordable and accessible to everyone.
Energy prices always seem to be on the rise, despite the increase in renewable energy sources being implemented, and regardless of what’s going on in the world. Recently, though, world events have caused energy prices to spike significantly, causing a great deal of financial hardship for a lot of people. Unfortunately, it’s not likely that we can expect an equally significant decrease in prices, and so we need to take advantage of any method of reducing costs that we can.
Gateshead-based startup equiwatt has developed a ‘virtual power plant’, which allows both homes and energy companies to reduce the costs and the carbon footprint of peak-time energy usage. The technology built by equiwatt can connect household appliances and even electric vehicles to its energy management system. This can be done with the app and existing smart technology, and creates a network that allows the members of that network to work together to save energy.
At times when demand is highest, this is flagged and users are notified that it would be a good time to turn off or avoid using appliances that consume the most energy. These are called ‘equivents’ and can last up to an hour, alleviating the strain on the grid, and with compatible smart technology, this energy-saving system can be automated so that users don’t need to do anything.
There is nothing for the user to pay, as the app is free, and equiwatt is an approved supplier in the National Grid’s Demand Flexibility Service trial, available to any household with a smart metre, even if their energy supplier isn’t signed up to the trial. There’s a lot to gain, though. As well as the energy savings, in return for helping to alleviate this strain on the grid, users are rewarded with points based on their energy and CO2 savings, and those points can be redeemed for things like Amazon vouchers.
Early this year, equiwatt announced that they had received over £630,000 from the Energy Entrepreneurs Fund, through the Net Zero Innovation Portfolio. This is a grant for businesses that will provide technologies, products, or processes that decarbonise the UK energy sector.
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Published on: 3rd April 2023
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