The challenge

The flowering of local energy assets such as solar, electric vehicles and energy storage throughout the UK has raised important questions as to: i) how energy systems and markets can be adjusted to increase the benefits from these new sources of energy; ii) how their attractiveness to investors can be increased to accelerate their deployment without government subsidy; and iii) how property portfolios will benefit.

Services provided

New Resource Partners leads a consortium of technology developers, property investors, universities and grid operators in the design and demonstration of a Local Energy Exchange for Liverpool (LEX), working with Liverpool City Council. LEX will provide the opportunity for local energy asset owners to trade energy services among themselves and with grid operators, reducing their cost of energy, creating new revenues, and stimulating further investment in local energy assets.

Outcomes

The LMEX Project has secured a second round of funding to explore opportunities for demonstration of LEXs in Scotland and England. For more information on the project, visit www.liverpoolenergyexchange.co.uk