America leads the way in the demand side response (DSR) market. In the UK the landscape is changing fast too, as businesses quickly come round to the fact that there are major benefits from participating in the sector. Erik Nygard, co-founder of Limejump, explains.
"Limejump's goal is to create the UK's largest virtual power plant, the first step is to be large enough to power the city of Birmingham."
Erik Nygard, co-founder of Limejump.
Limejump helps businesses take control of electricity by managing flexibility in their usage and on-site generation to generate new revenues, drive cost savings and lower CO2 emissions.
Limejump is creating a next generation technology-driven utility – using the power of big data analytics to transform the energy market. We provide a cloud-based online platform to businesses of all shapes and sizes that connects to smart meters and smart control devices across the UK, and uses big data technology to analyse weather forecasts, market prices and market mechanisms to provide insights and give customers control.
This data-driven approach means Limejump can help businesses proactively and precisely manage the electricity they use and generate to optimize and take advantage of market opportunities. Using our own unique technology and predictive analytics, we can show customers where they are paying too much for their energy, how they can shift their energy use to lower their costs, and how they can generate the most revenue from taking part in DSR.
This not only drives cost savings and generates new revenues; it also helps to support a sustainable energy future. And it’s not just about money; it’s about playing a part in supporting a changing and more sustainable grid system, which is becoming more heavily reliant on renewable intermittent generation.
The knowledge is building
Limejump works with organisations across all sectors; from schools to large manufacturing facilities. Individually, most customers use smaller amounts of energy, which in isolation does not have much of an impact on the electricity grid. However, by joining Limejump’s Virtual Power Plant individual customers can come together to make a real impact by helping to balance the electricity grid – competing directly against large power plants.
Limejump’s goal is to create the UK’s largest virtual power plant, the first step is to be large enough to power the city of Birmingham.
Given how new this business model is, Limejump is working closely with energy managers to understand the market opportunities around DSR and what benefits can be delivered. But knowledge is building, and with our unique software platform our customers can see – in real time – the shifts in the energy markets and the potential savings they can make by partnering with Limejump.
The challenges ahead
There’s clearly great potential in the market, but there are barriers too. Grid operators are facing problems: the current infrastructure is not fit-for-purpose considering the changing nature of how electricity is generated on the system. And there needs to be more investment, and more improvements, to meet the increasingly variable supply and demand conditions. DSR is an essential part in solving these challenges. Customer engagement, backed by technology, is also a requirement to ensure DSR will scale.
Developing a vast, distributed network – such as Limejump’s Virtual Power Plant – means customers will be able to deliver DSR and embedded generation and therefore tap into the synergy of big data analytics and cloud computing – enabling customers to react to all pricing opportunities.
These types of energy solutions are developing quickly globally. At Limejump we know customers are demanding more data about their energy consumption and greater pricing transparency. Having this information at their fingertips will only make businesses more committed to demand response.
To visit Limejump’s website click here.