Business Models for Decentralized Energy
62 Pages Posted: 5 Mar 2019
Date Written: March 4, 2019
Achieving greater renewable energy usage, energy efficiency, and energy security are practically universal goals today. Key emerging trends to this effect include the promotion of electric vehicles, deployment of smart grids and smart meters, as well as technology and regulation to encourage storage and demand response mechanisms. Overall, there is a move towards greater flexibility with consumers having more control over their electricity usage and costs. This Article introduces business models to illustrate the roles of multiple actors in a decentralized smart grid system. It identifies interactions between the various players, the tools they will manage, the added value in using the functionalities of such a system, and ways to maximise profits for those involved. The Article also examines the United Kingdom (UK) as a case study. It explores where the UK stands in terms of introducing tools and technologies for decentralization, including electric vehicles, smart grids, and demand response mechanisms. It also examines regulation in the UK to assess how conducive it is for decentralized energy. In addition, the Article identifies specific concerns related to data protection stemming from smart metering and analyses relevant regulation in this regard.
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