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BACKGROUND OF THE PROBLEM
At this moment, buildings generating excess energy from renewables sometimes suffer from overproduction of energy and are not able to feed that energy back into the grid. This leads to a loss of energy, especially during seasons when the energy needed is much more volatile.
Buildings are looking to sell their energy directly to other consumers at a competitive tariff rate (with capped amount of energy in some cases) compared to energy from the grid. This, however, leads to a number of problems including:
We have not tried solutions to solve this problem before and are open to consider different novel solutions. At the same time, Solarvest recognises this is a big problem to solve and part of the problem is the requirement to have a mature and reliable (smart) grid infrastructure. We therefore do not expect a full end-to-end solution, but are instead looking for solution providers that have smart solutions that can help us move into the direction of a fully developed P2P market.
Solarvest is not interested in the utilisation of storage systems or systems that emphasise on-grid reliance.
TECHNICAL REQUIREMENTS / PERFORMANCE CRITERIA:
Solarvest will be evaluating the solution providers on a case-by-case basis. Generally speaking, we will be looking at the following requirements and criteria:
Specific solutions will be evaluated on a case-by-case basis based on the aforementioned technical and performance criteria. Generally speaking, below are some benchmark cost indicators:
To drive the OPEX/user down to below 5% or more of the energy bills cost, once the solution is scaled up to beyond 10,000 users.
TIMEFRAME FOR DEVELOPMENT
Phase 1: PoC or Pilot (2-4 months)
Phase 2: Further commercial roll-out to be discussed on a case-by-case basis
POTENTIAL MARKET / BUSINESS OPPORTUNITY
Estimated participants in the pilot deployment program should be up to 50, and can be commercially scaled up to 1000 users. It can be deployed across all energy users, with a market potential of millions.
For the solution providers, we would target SME's and start-ups with a track record in programming, AI and software. We expect a TRL level: 7 and/or above with a proposal of a solution that can be deployed at a global scale. In case novel foreground IP is created between Solarvest and the solution provider, IP ownership can be discussed on a case-by-case basis
Contact / source: Enterprise Singapore Sustainability Open Innovation Challenge - Sustainability Open Innovation Challenge 2022 (innovation-challenge.sg)
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