Innovative Home Energy Behavioral Management
Enabling dynamic pricing and consumption tracking without investing in expensive smart meters.
* The vision: Building an eco-system of users of green-electricity
* Benefits to consumers: Cut electricity bill
* Benefits to Utilities: Enhance cash flow, boost revenue and loyalty.
The challenge of finding a balance between utilities, nations and consumers interests as well as between incorporating clean but low cost renewable energy sources without jeopardizing utilities cash flow and financial stability has become ever more acute for the global power sector in general and the European in particular in recent years. Only lately, are the costs and security, privacy and health implications of smart grid/metering becoming apparent.
We have to do everything in our power to deal with these critical issues, as fast as we can. The good news is that we have been working hard over the past years to put the pieces in place, so we aren’t starting from scratch. The digital landscape is creating new opportunities. Money digitization algorithms as well as digitizing KwH streams stands to revolutionize payments, governance, environmental and economic fortunes of individuals, utilities and nations. How – remains to be seen, but now is the time to lay down scenarios. Here is one.
Our challenge is to find a solution that could be implemented in a wide variety of properties. As the grid becomes more integrated, the need for a frictionless framework for stable electricity supply from different sources, centralized and de-centralized, fossil and renewable, as well as effectively encouraging savings during peak hours, is more acute. It seems that money has the ‘power’ to control our – individuals as well as utilities/governments – behavior. The digitized Green Electricity Initiative protocol, to be presented here, will demonstrate these capabilities and will open new dimensions. By properly tethering the digitized electricity money conditional use and redemption, the same protocol will enable utilities to have better control on their cash flow, while consumers will get immediate reward per ‘good behavior’ [e.g. reducing peak demand, self-production of clean energy] and retailers that join the Green Electricity Initiative will gain reduced financing costs. The number of joining utilities, retailers and individuals is projected to grow exponentially, provided that a robust technology is in place to provide products and services, which are deemed essential to the enrichment of the user’s life experience, security, privacy and cash flow, day by day.
For the entire article go to the proceedings of PowerGen Europe 2014.
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