A transformational shift in the energy system is necessary to meet the EU 2030 carbon emission targets. In order to move away from costly and carbon-intensive fossil fuels and incorporate an increased proportion of intermittent generation, a shift toward a decentralized energy system with multidirectional power flow and electricity generated locally by distributed generators is needed. This change requires an unprecedented amount of data to be processed from the energy system to unlock hidden capacity and flexibility on the network. Erik Nygard explains why this is only possible with disruptive energy tech and advanced analytics.
The benefits of harnessing energy system data are compelling: inactive customers can become active market players and be compensated for their flexibility, and increased amounts of renewable generation will be able to connect to the network, reducing the carbon output of the energy system. These benefits can only be achieved through technology, namely software, optimization engines, monitoring and automation equipment, and online customer portals. Erik explores how together, these technologies allow for the creation, operation, and scaling of virtual power plants (VPPs)—interconnected networks of distributed generation units and flexible demand that are aggregated and dispatched to alleviate network imbalance and take advantage of market prices.
Erik Nygard is a cofounder at Limejump Ltd., where he is responsible for strategy and business development. Erik has substantial experience in electricity trading, hedging, and optimization.
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