The electrical grid is a focal point for climate tech startups. The energy mix of buildings is shifting away from fossil fuels towards renewable electricity, especially as new technologies begin showing they can perform essential building functions at lower costs. This is leading to a rise in energy costs, and beckoning a whole industry of climate tech startups to ask how they can help the grid become more resilient in the face of increasing demand over the next decade.
One way in which utilities and startups are beginning to work together is through demand response programs. These programs incentivize consumers to reduce their energy consumption during peak demand periods to reduce load on the grid. “Battery storage will be at the forefront of this transformation,” says Charles Conwell, CEO of Novele (Cohort 12). “The ability to reduce [electricity] demand by storing energy during off-peak hours and deploying it during peak consumption times will reduce building occupiers’ energy bills.”
Novele has built an ultra thin, cloud connected lithium-ion battery system called the Energy Board. This modular, 5 kWh battery can be easily mounted and distributed inside a building, creating an intelligent networked battery storage system. “This allows building owners to retrofit their energy system over time instead of taking on a large disruptive CapEx (capital expense) project all at once,” says Charles. Novele delivers their product as a subscription service with no out of pocket cost for customers.
New incentive structures are being created a layer above the building. Enspi (Cohort 13) is building an AI-enabled virtual power plant to help optimize energy assets (such as solar panels or batteries) and creating a marketplace that pools energy across participants. “We help manufacturers save money while becoming more efficient. Storing energy during low demand and redistributing it during peak demand. We work to optimize the assets — charging batteries at cleanest times and using stored energy in batteries at the highest [demand] times,” says Dwayne Caldwell, Co-Founder & CEO.
Enspi envisions their technology extending to local communities most impacted by grid emissions. “We need to involve underrepresented communities in the clean energy conversation. Especially those most impacted by utility plants and exhaust emissions,” says Dwyane. Enspi is beginning to set up a community impact fund to help educate consumers on how they can adjust their energy behavior. “The hope is to inspire the next generation to get involved in building solutions around clean energy.”