The sharing economy is coming to the energy business – and to a household near you.
Vienna, June 29, 2018 – Austrian energy tech company fifthVOLT has already started the journey of
re-shaping the energy market. “If I’m generating electricity from my roof-top solar PV panels, I should be able to share that energy with my neighbor. I should be able to do this easily and seamlessly.”, proposes CEO Marko Svetina.
For a long time, the energy market was driven by centralist production and distribution schemes. Now, fifthVOLT is proposing a means to achieved shared energy storage to create a greener energy future. “We believe that the shared use of battery storage resources is one of the most important steps of the energy transition”, CEO Marko Svetina states.
For fifthVOLT the end-customer will play a central role in the energy transition – and modern technology is the enabler.
Successful shared ownership of flexibility-providing assets, such as decentralized storage will be demonstrated through the products that are currently under development by fifthVOLT. While flexibility assets, like Demand Response systems and Virtual Power Plants, are becoming common providers of balancing services in some European markets, they are normally owned and operated only by electricity retailers or independent aggregators. However, their business objectives might differ from those of the future providers of grid flexibility, the customer. Hence, to enable higher penetration of clean energies the customer is key – and new business models must reflect the value, also for the
Energy sharing is energy caring
fifthVOLT is working to break down the barriers to shared energy through its advanced platform development and services. The company believes that changing and diversifying of the energy market calls for visionary ideas to engage the end-customer.
“We believe that customers should be free to choose how to consume and share their stored energy resources in order to contribute to the democratization of the electricity market.
The community will become a central figure in local production giving self-sufficient value to local residents.” – Cami Dodge-Lamm, Head of European Public Affairs and Regulation
Still, there is a lot of work to do, but for fifthVOLT there is a clear strategy ahead. The technology for sharing energy is ready, and many countries are willing and ready to support the energy transition with a focus on the end-customer.
“Shared energy storage gives us the power to empower one another. fifthVOLT is ready to enable the next energy transition benefiting the customer, the economy, and the planet. ” – Marko Svetina.