Clean Growth Strategy: Powervault’s Journey to Net Zero
Last week, State Minister for the Department for Business, Energy and Industrial Strategy’s (BEIS), Kwasi Kwarteng, came to Powervault’s manufacturing site in London Bridge. In our labs he explored how storage and flexibility are key for a Net Zero carbon economy and how Powervault’s national market-based solutions can contribute to this.
Powervault is working with energy suppliers and The National Grid to reduce dependency on fossil fuels by shifting energy demand away from peak times. This flexibility helps enable the roll-out of electric vehicles and the shift from fossil fuels, accelerating the U.K.’s transition to a low-carbon, decentralised energy network and ensuring UK wide energy security.
The Minister visited our manufacturing and development site to investigate Powervault’s pioneering trial which uses an aggregate community of Powervault 3 batteries as a “smart network” to help provide local flexibility and reduce electricity demand. Trials have proven that households can reduce their energy demand by an average of 60% during winter evenings and cut their emissions by up to 0.3 tonnes per year by utilizing domestic storage.
Powervault is a national powerhouse with the innovative potential to contribute to the Clean Growth Strategy to achieve net-zero emissions by 2050. Headquartered and manufactured in London Bridge, Powervault units are compatible with all solar systems. The smallest unit of 4.1kWh, when coupled with solar, can reduce year-round electricity demand by 50% for the average UK household, cutting energy bills and carbon emissions.
This visit comes as the Government is investing more than £3bn in low carbon energy innovation as part of its Clean Growth Strategy. The UK has cut emissions by almost 45% since 1990, while growing our economy by more than two-thirds. It is the first major economy in the world to legislate for net zero emissions by 2050 to end the UK’s contribution to climate change entirely. There are now 850,000 solar panels in the UK – providing up to 4% of the UK’s electricity supply.
Kwasi Kwarteng said: “I was keen to see first-hand the cutting-edge technology being made right here in London that will help create a smarter energy infrastructure for the UK, making our energy generation, flow and use far more efficient.”
Alongside BEIS and our customers, we hope Powervault can have a leading role in the United Kingdom leadership in pioneering sustainable energy future.