Utility renewable spinoff InnoEnergy has announced the launch of Power2U, in partnership with a range of Swedish local energy companies. Power2U is a platform spawning from InnoEnergy’s innovation ecosystems that allows end users and energy companies to integrate renewable energy assets to the grid, while also improving stability.
The partners Öresundkraft, Jämtkraft, Tekniska Verken, Umeå Energi and Jönköping Energi and InnoEnergy invested SEK 60 million (US$6.68 million) for the realization of the project. Sweden is the first country in which the service is available, though when asked by pv magazine, InnoEnergy emphasized that it is looking to bringing the service into other markets through local partnerships.
In a statement, Kenneth Johansson, CEO of InnoEnergy Scandinavia, said: “We expect rapid growth of local storage capacity in the form of electric cars and stationary batteries. Our joint new model is an important puzzle piece in the new energy landscape, and we are aiming for a rapid market launch starting in Sweden. We already have more international inquiries than we can handle.”
When asked by pv magazine InnoEnergy explained that the Power2U platform is a cloud service which includes optimization algorithms that harmonize charging cycles of battery storages with grid needs, reportedly benefitting customers and utilities alike. According to the project developers, the platform ensures that any battery storage unit is operating for maximum value creation for its owner. Through market mechanisms, this ensures load distribution between times of peak and low demand.
The platform has its origins in InnoEnergy’s Market Creator, which set out to find innovations for the energy market, primarily focussing on energy-generating buildings, IoT, EVs and renewable energy generation. It was first conceived in 2015 and has now been put into action.
Kenneth Johansson, CEO of InnoEnergy Scandinavia, said: “We are pleased to welcome our new partners in Power2U, which is now ready for rollout. With the partnership, the solution is fast-tracked to market through each energy company’s strong local presence. And we will ensure continued access to expertise, technology, and resources.”