asset management

UK utility Centrica is set to expand its home energy management offerings to help consumers save more.

Centrica will develop and offer new home energy management services to support grid flexibility.

The services include integrating consumer solar, battery and heat pump technologies.

For instance, integrating domestic battery storage alongside solar installations alone could enable over 4.5GW of flexible power capacity, one and a half times more than a new nuclear plant.  

Efforts by Centrica to expand its home energy management services have pushed the utility into acquiring Europe based solution provider GreenCom Networks and Mixergy, a startup formed by the University of Oxford's Energy and Power Group.

The acquisitions add an internet of energy solution and intelligent smart hot water tank technologies to the utility’s offering.

The technologies will allow customers of Centrica to sell energy generated onsite onto the main grid and to avoid high energy bills by tracking hot water levels required by their homes and only heat just enough water to meet their needs.

Sam Salisbury, director of Centrica Innovations Labs, said: "These investments are an important step forward to a time when IoT-enabled technology in the home will operate as a single unit to ensure that energy is used in the most effective way.

"Our mission is to make people's lives easier, by providing seamless, time-saving services that are easy to use, have a positive environmental impact, and help save them money. Just as we have done for our business customers, home energy management takes this a step further by giving these customers access to new products that will enable them to generate and store their own energy as part of the ultimate 'Intelligent Home'.

"Central to this will be an offer to customers that will deliver a greater variety of choice depending on whether their priority is warmth, price or the environment."

Centrica predicts the home energy management industry will be worth £2billion/year in Europe and North America by 2025.