The BankEnergi project has been identified by UKRI, the new UK Research & Innovation body, as “going beyond renewable technology” to design a virtual power station that will deliver carbon reductions necessary to meet the UK’s climate targets.
BankEnergi has received £136,107 from UK Research and Innovation’s £102.5 million Prospering from the Energy Revolution challenge, part of the government’s Industrial Strategy.
The project will look at ways to manage energy demand and storage in order to enable local trading in ‘virtual power stations’. A peer-to-peer energy network will allow members to effectively trade energy with each other, creating a local economy and giving users the option to move away from big energy suppliers.
