The electricity system of the UK is changing rapidly. More than 50% of electricity is now generated by low carbon sources such as nuclear and wind. Many homes and businesses can generate electricity, particularly from solar panels.
Smart time-of-use tariffs are giving consumers greater control of their energy bills, and the growing use of electric vehicles is placing new demands on the grid.
Effective use of data and better communication is essential to the working of this modern electricity grid.
An analysis by the Carbon Trust estimates that a smart and flexible system could save the UK £40 billion by 2050. It will also help the UK to meet its carbon reduction targets.
However, a lack of common data standards and sharing of data are a barrier to competition and innovation.
Innovate UK, part of UK Research and Innovation, working with the Department for Business, Energy and Industrial Strategy and the Office of Gas and Electricity Markets, has up to £1.9 million to invest in the development of products and services that will modernise data services in the energy sector.