Spotted: The transition to a net-zero economy will require huge changes in our energy infrastructure. Not only will the power grids of the future be cleaner – they will also be more decentralised. In the fossil fuel era, energy infrastructure was owned by a small number of large players. But in the future, the fossil fuel supply chain will be replaced by much smaller assets embedded within the built environment. In the words of Australian startup Gridcognition, the energy transition represents a move away from ‘big dumb machines, to small smart ones’.
This transition represents a huge opportunity for the industry but comes with its own problems. One of the trickiest issues is the complexity of planning and assessing each de-centralised project – something that is beyond the scope of even the most sophisticated traditional spreadsheets. Industry players need to understand the environmental impacts and commercial opportunities of a diverse range of energy assets – such as virtual power plants, microgrids, community energy systems, and electric vehicle charging points. And they must also consider how each project interacts with the wider energy ecosystem and commercial landscape. Much more sophisticated data analysis is needed, and this is where Gridcognition’s software aims to play an important role.
The startup’s software service allows customers to simulate different energy project options based on a wide variety of different parameters – such as technical considerations, geographic location, and tariffs. The simulations crunch all this complex data allowing the user to quickly compare options based on commercial performance measures (such as cashflow) or environmental considerations (such as amount of CO2 emissions saved). The software also allows users to create a ‘digital twin’ of a project that can be updated as the project is deployed.
Gridcognition’s software is designed to be used by a range of different players including energy providers, project developers, solutions providers, large energy users, and property businesses. The startup has already secured a number of high-profile clients and partners, such as Amazon Web Services, and announced in October 2021 that it plans to expand into the UK microgrid market.
Other smart energy innovations spotted by Springwise include
a startup reducing
the impact of electric hot water systems, and devices that bring smart
meter technology to hard-to-reach homes.
Written By: Matthew Hempstead
17th March 2022
Email: hello@gridcognition.com
Website: gridcognition.com