Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.
SEAS can manage data from multiple sources, such as smart meters, smart devices, and surveys, and also can detect missing or faulty data.
SEAS can accurately predict electricity consumption of individual users in both short and long-term, helping utilities reduce generation waste and operating costs. Additionally, the forecasted profiles can be paired with rates to more accurately predict monthly bills and gain consumer trust.
SEAS can simulate the effects of offering customised tariff plans, especially using time based rates. The ultimate goal of this is to identify users to incentivise to shift load off peak morning and evening times—where rates jump and extra generation is required—thereby reducing costs and environmental impact.
Impact: What is the impact of the work to date? Also describe the projected future impact for the coming years.
While SEAS will launch officially in 2016, the research behind it has been developed and demonstrated by Cambridge Energy Data Lab over the past two years. For example, the forecasting algorithms are currently used by our Japanese partner Enechange. Enechange attracts customers who are looking to save on their energy bills and, after collecting information about the customer’s household (number of members, appliance types, etc.), predicts the monthly bill for all available energy plans. The accuracy of our forecasting method has been a critical factor for building consumer confidence in Enechange, making it the top energy plan switching website in Japan with 500,000 monthly users.
Beyond 2016, we hope to offer SEAS to the EU and any other countries looking to improve their energy sector through demand-side management, demonstrating the value of smart meter implementation in the process.
Spread Strategies: Moving forward, what are the main strategies for scaling impact?
Over the next year, we are targeting UK utilities and utility service providers. This timing coincides with the “go live” date in April for the UK smart meter rollout, when utilities will begin receiving live data en masse. We hope to be implemented in three customer engagements by the end of the year, bringing in monthly revenues of over £30,000 and gaining a fuller picture of the benefits as they transform the customer’s operations. We hope to use these findings to fuel our research, present on the academic and industrial circuits and offer SEAS to customers in Europe and around the world.