2022 Industry Report Partner RedGrid supports community energy planners and users through the whole lifecycle from energy-sharing planning and scenario testing, to implementation and support. We chatted to Adam Bumpus, Co-founder and CEO, about the future of energy storage.
Why is it important to develop storage as a climate tech solution?
Local and community storage solutions are an essential ingredient for the energy transition. As we move away from centralized to distributed grids they provide a valuable opportunity for soaking up excess solar, dealing with variability, and making productive use of our electricity.
Through technology we can leverage EVs as a tool to support grid stability. It will change the game in terms of the speed and scale with which we can integrate renewables.
What does the future of energy storage look like (alternative storage, micro-grids, community batteries etc)?
There are a huge number of neighborhood/community battery projects looking to provide local resilience and energy independence for communities.
We see this trend accelerating, with community and home batteries becoming a tool for groups to reduce their dependency on the grid.
As this trend continues, electricity will be provided from distributed pockets rather than central facilities. Peer to peer trading and sharing of energy between individuals, communities and neighbors will fast become a reality in this scenario.
Give us a brief overview of Redgrid, and, what is your north star?
The climate crisis will be defined by how companies engage everyday people and enable them to be part of a low-carbon future. Redgrid is a climate-crisis-fighting tech company building the distributed payments engine that underpins our connected grids. Redgrid’s software connects devices that consume, produce, or store energy, and allows them to communicate, recording transactions in real-time.
What is the problem that you saw, and how does Redgrid solve it?
At Redgrid, we saw a massive gap in the market between the customer experience and the revolution happening with distributed energy resources. Redgrid brings together distributed transactions that are scalable, secure and more efficient than existing systems. We are enabling customers to transact in a new energy economy. Energy is ripe for disruption in the payments space. And it has to be truly distributed. People want change in the way they pay. Let’s give them true peer-to-peer.
Learn more about RedGrid here: https://www.redgrid.io/
Cover Photo by Manny Becerra on Unsplash