42 Technology will use part of the grant to partner with the Power Network Demonstration Centre to develop a framework for commercial usage of its technology.
The Cambridge-based energy innovation firm claims its solution provides DNOs with real-time insights on the operation of their substations to result in benefits such as informed infrastructure investments.
The solution reduces operational expenses for DNAs by minimising the risk of asset failures and increasing the life-span of their network assets.
[quote] The solution is believed to have the ability to help the UK monitor in real-time its fleet of substations comprising 4,000 units. In so doing, 42 Technology said the solution will provide DNOs with the opportunity to increase their portfolios of distributed generation resource and Electric Vehicle charging infrastructure.
Jeremy Carey, managing director at 42 Technology, said “… the monitoring system offers a real breakthrough in terms of cost, performance and ease of deployment. The system is being specifically designed with a target price of GBP100 per installation whereas today’s alternative solutions are more than 10 times as expensive, making them too costly for widespread use.”
Grid innovation funding
In late November, the UK government signed an agreement with automaker Jaguar Land Rover to reinforce the nation’s grid and develop infrastructure that will support adoption of EVs.
Following the agreement, the UK Ministry of Finance will provide $484 million in funding to ensure the nation’s grid infrastructure is able to support the growing number of EVs and autonomous vehicles.
The capital will be used to fund clean energy projects to ensure the UK contributes at least 12 to 15GW of electricity to boost grid reliability.
The money will fund development of EV charging stations as well as manufacturing of EVs and autonomous vehicles.
In addition, the UK government agreed to draft and implement policies to support an increased manufacturing of EVs, EV infrastructure development and the adoption of UK manufactured EVs, locally and abroad.
Ralf Speth, CEO of JLR said his firm will take advantage of the support from the UK government to reach its target of manufacturing one million EVs by 2020. [UK to invest billions in infrastructure including smart meters].
The JLR and the UK government partnership is expected to improve the UK economy by creating 10,000 new jobs and help the region meet carbon emission reduction targets.Local utility companies are set to benefit from the funding in optimising their operations and customer services by increasing their clean energy portfolio and providing customers with affordable energy.
Image credit: www.networkmag.com.