The utility market globally is undergoing a massive shift, the future is moving towards decentralised energy solutions that are environmentally friendly, decarbonised and digital. AI, IoT, and Big Data will all play a big part in how this all pans out but the future in energy has never looked so promising and exciting before. The traditional utility market will be disrupted and completely change from the way we know it. The focus will be on moving away from the current complete focus on energy generation to a more holistic system where energy demand is managed more efficiently leading to more efficient electricity generation and distribution. Here we look at the Top 10 Energy Startups that will shape the future of things to come in the energy industry.
Sympower is a demand response aggregator founded in Estonia, what is demand response? The supply of energy is a balancing act where energy supply has to be balanced with actual energy demand. Demand patterns are constantly changing and as such a moving target.
Sympower has come up with unique software that when coupled with hardware is able to control the demand side of things by switching off equipment when required.
The end result is reduced strain on the electrical grid and also gives the energy consumer the ability to turn their big energy users into value generating energy assets. Sympower provides demand response solutions for the business and residential sector.
IoT will be a major part of future SMART Grid’s, Smart Buildings and Smart Cities. IoT is a technology that will connect our day to day devices to the digital world giving them access to data and adding intelligence in how these devices are used.
The end result is devices that act more intelligently and more efficiently. Vebbu is an IoT startup from Croatia that develops sensors and software used in monitoring and controlling air quality in buildings.
They have also developed a heat recovery sensor that assists in recovering up to 90% of heat captured in air and saves up to 40% on energy bill. All of this can be managed and monitored from the cloud using their special application.
Watty is a Swedish company that is targeting the Smart Home market. It's a complete solution with a piece of hardware, the Watty box, and the Watty app.
The software through unique algorithms is about to tell you remotely via its Smartphone app what appliances are running in your home environment, how much energy consumption is being used and all of this in real time, you can even view historical energy consumption data. Leaving you the power to control your energy consumption and be more efficient, not to mention reduce your carbon emissions.
Dajie is an acronym for Distributed Autonomous Join Internet & Energy For Everyone. Founded in Italy in 2015. What they are proposing is something completely unique and sure to disrupt the utility market.
Currently, the boom of rooftop solar PV systems benefit from feed-in tariffs and net metering, however, this is expected to fall away at some point and as such the prosumer will be encouraged to sell their excess electricity to their neighbors.
Using IoT devices in a microgrid scenario will allow this to occur but the amount and complexity of financial transactions will have to be managed somehow and this is where blockchain comes in. A pilot study is already being conducted at a microgrid site in Rome, Italy.
Wapo is probably the world’s first AI virtual Facility Manager.
Wapo is a Greek company founded in 2015, they have developed an AI chatbot that interfaces with a building BMS or also known as Building Management System, other IoT sensors installed in the building and automation controllers.
Have a problem with your HVAC system then just log a call with the chatbot and he’ll assist in resolving the problem or advise on what to do. Wapo is able to help enterprises reduce costs, increase productivity and optimize property performance.
Wirewatt is a fast growing startup in Mexico, started to provide solar leases to residential rooftop PV clients through international institutional investors.
Energy costs are high in Mexico but there’s plenty of sun for rooftop PV systems and installation costs are low. Effectively Wirewatt is an online B2B company.
Through the online platform, local installers can design, verify and sell more solar systems.
Swuto takes the pain out of determining the utility with the cheapest energy consumption rates and then switching.
Swuto uses complex software algorithms considering tariff rates, exit fees, discounts and time since your last switch to decide the cheapest utility.
It will even switch your utility automatically to the cheaper energy offer. It’s a subscription-based service, so all the customer must do is signup.
LO3 Energy is a US-based startup and the only transactive energy platform using blockchain technology.
They've created a peer-to-peer network to share energy neighbor to neighbor.
The Brooklyn Microgrid is their flagship microgrid project that has 60 prosumers and nearly 400 customers who are interested in consuming energy from their neighbors. One side of the street sells excess solar power to the other side of the street. In effect, decentralizing the legacy utility grid as we know it!
TEQ Charging is a US-based startup that’s targeting the electric vehicle public charging facility market.
Purchasing and installing EV charging facilities is an expensive business TEQ Charging, however, have come up with a cheaper solution, enabling businesses to maximize their profit from charging EV’s, process payments, see real-time energy usage and provide detailed reports.
The claim to reduce the costs of setting up a public EV charger by 90%! As EV’s become more mainstream the demand for public charging facilities will only increase.
Totem is a New York-based startup, Totem is the worlds first integrated energy and communication solution for smart Cities, smart Campuses, smart Retail Centre’s, etc.
It combines energy storage, distributed solar energy, WiFi, 4G, LED lighting and electric vehicle charging services.
Totem’s smart hub offers critical, modern services in an integrated design. Look out for a Totem in a smart City near you!