After several months of careful planning, the BankEnergi project has gone live. To start with, BankEnergi will focus on bringing together organisations across London’s South Bank to plan ways of reducing energy demand through better energy management, identifying cost-effective means of energy storage and renewable energy, and developing a trading platform to allow those in the area to better balance local energy supply and demand and prepare for the transition to a low-carbon economy.
“I’m delighted that London South Bank University are partners in BankEnergi”, said Graeme Maidment, Professor of Air Conditioning and Refrigeration at LSBU. “All too often energy is solely seen in terms of generation and supply, with little attention given to the rising demand for it in heating and cooling. In higher tech offices, commonly found across the South Bank, energy used in air-conditioning often exceeds that for heating, leading to patterns of use that are quite different from those commonly assumed. BankEnergi will help organisations identify and trade on these to lower their costs and environmental impact.”
In its initial phase, BankEnergi will work with selected bodies across the South Bank to analyse energy use and opportunities for peer to peer trading. Benefits for the initial participants may include:
- Better use of existing assets
- Reduced energy bills and lower carbon emissions
- Greater resilience against future supply constraints
- Opportunities for cost-effective investment in renewables and energy storage