LONDON, November 30, 2018 /PRNewswire/ --
Social Energy, a UK-based start-up company working together with Duracell Home Energy Storage, has today launched a ground-breaking new platform run on artificial intelligence (AI). This platform, which can be managed through a simple app, is the first of its kind to have met National Grid standards, meaning consumers can trade home energy with the grid, ultimately generating earnings from their energy.
(Photo: https://mma.prnewswire.com/media/792054/Social_Energy.jpg )
The impact on a household's energy bill is significant, decreasing a household's electricity tariff from 14 to 4.0 pence per kilowatt hour*. For households with solar panels, Social Energy can offer an average of 15% immediate savings, building up to 70%.*
Giving power back to the people
This one-of-a-kind platform smartly combines an energy storage battery, such as the Duracell Energy Bank with an AI powered Social Energy Hub, allowing consumers to take control of their own energy for the very first time. Central to this is the AI software which uses machine learning to predict weather patterns and home energy usage patterns allowing customers to achieve optimal savings, by using own reserves storage in the battery first, before taking from the grid.
Ryan Gill, CEO Social Energy: "The UK no longer needs to rely on traditional energy providers - Social Energy is a new approach to managing energy that puts power directly into people's hands. All of the trading and selling activity is digital and is done for the customers, allowing them to go on with their lives, but what is obvious are the savings. Other people are talking about this, but we're already doing it."
The energy disrupter partners with the world's leading potable power brand
Social Energy uses Duracell Energy Bank developed by BYD and in partnership with the world's most trusted battery brand Duracell, as well as a variety of energy storage systems and the software as part of its platform.
Javier Hernandez, President Duracell Europe & Africa: "Partnering with Social Energy is a very exciting prospect for us. As the #1 manufacturer of high performance alkaline batteries world-wide also offering specialty cells, rechargeables and PowerBanks we exist to provide unstoppable power for people and their devices. Now, with Social Energy, we are able to bring this power also to homes and have an entry point to the energy storage market, where we will continue to deliver unparalleled value for our consumers."
Simon Peat, Chief Technology Officer, Social Energy: "We live in an age of disruption, where innovators are challenging established ways of doing things and we no longer accept the status quo as 'good enough'. Not only we are offering consumers an unprecedented reduction in energy bills, but we are reducing the country's reliance on traditional energy sources. Across Britain our platform delivers 100% clean energy efficiently, reliably and faster than any other form of energy available. We are excited we already have a strong line-up of UK homes waiting to join Social Energy and are confident we can make cleaner and greener smart cities a reality in the years to come."
How it Works - a Social Energy Step by Step
- ASSESMENT: As the first step, one of over 500 accredited energy assessors will conduct a home assessment that looks at a households energy requirements, solar system and combined energy usage.
- INSTALLATION: One our installers will take care of the whole process, installing the Duracell Energy Bank and Social Energy Software within one day. The energy switch to Social Energy utility can take up to 28 days, but once switched, the battery and hub will start trading and swapping, to earn money.
- EARNINGS AND SAVINGS: up to 70% of all of the earnings and savings generated by the Social Energy network's trading are distributed to each customer, via a credit on the bill.
About the Social Energy
Social Energy is vertically integrated company that is revolutionising the energy industry by offering a unique energy storage solution, empowering homes and businesses to take back control of their energy supply.
- Developed over five years by a board of entrepreneurs, who are responsible for over £1 billion of global trade.
- Self-funded through private investment
- The first and only company to have met all National Grid standards for dynamic FFR (firm frequency response)
Social Energy delivers 100% renewable energy making it a smart financial investment for individuals, and an investment in the future of our planet.
The revolution has just begun but demand is already high - stock is sold out until April 2019.
For more information please visit the company's website:
http://www.social.energy/
About Duracell
Duracell is the world's leading manufacturer of high performance alkaline batteries, specialty cells and rechargeables. Since its foundation in the early 1940s, the company has become an iconic personal power brand, trusted for compact and longer-lasting batteries. On average 63 Duracell products are sold every second, and Duracell is the number one brand recommended by the world's largest manufacturers. Duracell has a rich history of innovation with many pioneering and successful products, ranging from the first hearing aid cell button to alkaline AA and AAA batteries through to wireless charging technologies and home energy storage.
Duracell is committed to designing, manufacturing, and distributing batteries in a way that minimizes impact to the environment. Our Quality Assurance exceeds the requirement of the ISO 9000 standards, and specifies the highest quality of raw materials, rigorous testing and inspection of performance and energy usage. Investment in quality innovation means Duracell has removed heavy metals such as mercury, cadmium and lead from our products while a range of products have been developed, including ten year storage and PowerCheck™, to help consumers understand their remaining battery life. Duracell has also introduced a complete, sustainable packaging solution, one of the best PVC alternatives available today and is already committed to responsible battery disposable in line with the EU Battery Directive.
* Supporting evidence for decreases in effective electricity tariff unit rate to 4.0 pence per kilowatt hour*
A report from one of the leading energy consulting firms, Cornwall Insight, values the benefit per household with a 3kW domestic battery at up to £367.92 per year from balancing services alone
Social Energy's platform uniquely optimises between multiple grid trading opportunities to achieve estimated electricity cost saving per year of up to £226 for households with solar PV.
This equates to a 70% reduction in unit rate to approximately 4.0 pence per kilowatt hour based on electricity unit rates published by BEIS in their 2017 Annual Domestic Energy Price Statistics. When multiplied by the number of households in Great Britain with solar panels according to BEIS solar deployment data, the potential nationwide saving from domestic batteries for solar panel users is £205m per annum.
Please see Social Energy's website for a summary of the calculation methodology used to estimate the savings referenced in this press release.
** Building up to as much as 70% within months, once full grid trading takes effect.
