Smart energy management company Powerverse has launched a new AI-powered home energy management platform that it says could help homeowners save money.
The company, which is supported by global solar firm Lightsource bp, says AI could help millions of UK billpayers to take control of their energy, cut their bills by over £1,000 per year, and “unlock a more sustainable future”.
Adopting new low-carbon technologies such as EV chargers, solar panels, heat pumps, and smart appliances is “time-intensive, confusing, and highly inconvenient,” the firm says, adding that this is hampering the consumer-driven shift to a low-carbon, low-cost energy future.
As new regulations to slash emissions come into force – such as the 2030 ban on new petrol and diesel cars and the ban on gas boilers in new build homes from 2025 – the consumer demand for help to make the right decisions on EV chargers, solar, and heating systems is anticipated to skyrocket.
10 million people are expected to switch to an EV in the next 10 years, over 40% of EV owners install solar panels to cut energy bills, and there is forecast to be 600,000 heat pump installations per year by 2028.
Richard Britton, CEO of Powerverse, said: “AI lets billpayers unthink energy. With sky-high bills, increasingly complex tariffs, and more tech to choose from than ever before, consumers are overwhelmed with choice and complexity.
“Around 13 million energy customers would live more sustainably if it was less complicated – helping this group alone could see £13bn shaved off UK energy bills, and 11 million fewer tonnes of CO2 emitted every year.
“It’s a massive opportunity to use AI as a force for good.
“Powerverse lets billpayers simply select their desired outcome, whether it’s lower bills or cutting CO2, and AI does the rest, bringing consumers a whole new level of control.”
Powerverse says its new platform is the first time all aspects of home energy have been brought together into a single platform using AI technology to guide billpayers on the best solutions for their needs.
Using the platform to install and optimise EV charging and solar can lead to savings of around £1,000 per year, according to the firm.
Powerverse Vesta learns driving patterns and reviews home energy use to automatically charge at the cheapest time using the most cost-efficient tariff.
Powerverse also enables customers to benefit from Demand Side Response (DSR), shifting energy use to off-peak times to take pressure off the grid.
Further, by controlling solar inverters and EV chargers alone, Powerverse says its platform can control up to seven kWh of power per household – which is equivalent to running seven domestic fridges for an entire day.
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