Upside Energy's Cloud platform uses advanced algorithms and AI to manage large numbers of devices that households and business sites already own to deliver flexibility to the energy system.
Upside Energy is an ambitious start-up based in the UK at the forefront of the new energy system whose aim is to transform the electricity industry. They aim to reduce greenhouse gases by enabling people to make smart choices about when to use energy.
Upside was created for the Nesta Dynamic Demand Challenge in London, October 2013. As one of five finalists from a field of more than seventy Hackathon entries, they found a way to reduce energy costs and environmental impacts.
Upside has developed a cloud service that aggregates the energy stored in systems people and businesses already own – uninterruptible power supplies (UPS), solar PV systems (solar panels), electric vehicles (EV), domestic heating systems, etc.
This creates a Virtual Energy Store™ that they can sell to the grid to help it balance supply and demand. They share the revenue generated from these services with device owners and manufacturers.
The end goal is to create an open platform that people can use to coordinate distributed energy storage and use it to reduce the environmental impact of the grid. Analysis by National Grid shows that, that can eliminate 600 tonnes of CO2e for every MW of demand-side capacity we make available.
Their unique IP allows us to scale to 100,000’s of devices. By 2025, the aim is to have 515MW of capacity under management in the UK. That would enable us to eliminate 309,000 tonnes of CO2e per annum. They simply use existing assets to time-shift existing electricity demand, so create no additional costs or inefficiencies to offset this benefit