Dynamic Demand Challenge funds development of smart grid ideas into prototypes
The Dynamic Demand Challenge is run by Nesta’s Centre for Challenge Prizes, and supported by the National Physical Laboratory (NPL) Centre for Carbon Measurement, Climate-KIC and the National Grid to develop and ultimately fund the best idea for managing electricity demand and shift electricity usage towards renewable energy at off-peak times.
“Our funding will help applicants to the Dynamic Demand Challenge to test and refine their work," said Mary Ritter, Chief Executive Officer of Climate-KIC, Europe’s largest public-private innovation partnership working to address the challenge of climate change.
"Our goal is to commercialize innovative climate change products and services that have real impact on climate change mitigation and adaptation," she said.
The funding from Climate-KIC, awarded through the Climate Market Accelerator (CMA) programme, will allow applicants with ideas to develop them into close-to-market products. In particular it will provide the funding for shortlisted entrants to test their ideas at the world leading measurement facilities at The Centre for Carbon Measurement at NPL and to receive assistance from experts to build their ideas at Imperial’s Faculty of Engineering, Design Engineering Group and the Imperial College Business School.
Following this, the entries and their business plans will be assessed by the judging panel and a prize of £50,000 (which is separate from the £125,000 Climate-KIC funding) will be awarded to the solution that demonstrates the most significant impact. Nesta’s Centre for Challenge Prizes was launched in April 2012 and brings together the growing expertise and interest in challenge prizes. Challenge prizes, also called ‘inducement’ prizes, offer a reward to whoever can first, or most effectively, meet a defined challenge.
“Climate change and a secure, clean energy supply are two of the biggest challenges of our time," said Jane Burston, head of the Centre for Carbon Measurement at the National Physical Laboratory. "Balancing demand is a critical step in supporting the shift in supply towards renewable generation. This will only be successful with engaging tools and technologies we want to use in our homes and offices. The support from Climate-KIC will help to develop such tools by ensuring that all the ideas submitted to the Challenge are tested and measured in leading facilities by experts. The result will be a range of products and prototypes that are close to market-readiness and of interest to investors and buyers.”
The Dynamic Demand Challenge Prize is looking for new or improved products, technologies or services that can create a demonstrable shift in demand to off peak times and / or towards renewable energy generation and have potential for scale and volume markets.
The challenge is open to entries from anyone across the European Union, but the solution must be applied within a UK context. The deadline for entry is 9 September 2013 and the application is at dynamicdemand.nesta.org.uk.
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