Otovo, a leader in residential solar solutions, has aligned with British VPP Levelise to introduce an AI-powered 'Hub.' This breakthrough integrates cutting-edge energy management technology with superior solar installations, giving homeowners unprecedented access to energy markets.
Customers can obtain the Levelise Hub for £599 alongside a solar and battery installation. This investment enables households to engage in 24/7 power trading and aggregate storage across multiple homes via Levelise’s VPP, making energy efficiency affordable and accessible.
With AI-driven algorithms, the Hub ensures optimal battery charging during low-cost periods and discharging during peak prices, significantly enhancing energy efficiency and reducing consumer costs. By 2025, Otovo's clients will be able to participate in wholesale power markets.
The VPP operates across 12 revenue streams, including National Grid ESO’s Balancing Mechanism and Demand Flexibility Service. This strategic market involvement is aimed at maximizing financial gains for consumers while contributing to grid stability.
As the UK moves towards a half-hourly settlement of household electricity by 2026, the Levelise Hub will be pivotal in grid stabilization and decarbonization. This smart technology promises substantial financial benefits for homeowners, aiding in environmental sustainability.
A March 2024 ESO report indicated a 40% fall in average annual system inertia over the past decade, increasing the grid's susceptibility to frequency changes. This highlights the critical role of consumer involvement in demand-side flexibility, facilitated by VPPs.
Steve Day, Levelise’s product director, stated that the partnership is designed to enhance environmental sustainability and economic benefits by merging advanced energy management with top-tier solar installations. Jina Kwon, General Manager of Otovo UK, underscored the necessity of offering comprehensive smart home solutions that provide market trading access and battery utilization for peak electricity prices.
Otovo has also teamed up with Elli, a Volkswagen Group subsidiary, to integrate their solar solutions with e-mobility. This collaboration aims to reduce EV ownership costs by up to 40%.
Otovo’s partnership with Levelise signifies a major advancement in residential energy management. By integrating advanced technology with solar power, this collaboration promises significant economic and environmental benefits for homeowners, furthering the push towards sustainable living.
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