Electricity network operators across England, Scotland and Wales have pledged to deliver £17 billion of benefits by 2050 after the renovation of the networks. They have made known about a common pledge to establish new markets to empower flexibility services that will compete with traditional investment.
According to the plans, consumers could sell electricity produced by solar panels and turbines or from electric vehicles or directly to neighbours via blockchain technology and be remunerated for that.
Businesses can also control their electricity use when they need it less and use smart energy efficient technology to manage consumption on distance as well as purchase electricity from battery storage. This is part of the Energy Networks Association’s (ENA) ‘Open Networks Project’ to take into consideration the modifications that need to be made in order to form a more flexible energy system. [emp]