AI could empower millions of UK billpayers to take control of their energy, cut their bills by over £1,000 per year[ii], and unlock a more sustainable future, according to Powerverse – a smart energy management company incubated by global solar leader, Lightsource bp – which today launches a new AI-powered home energy management platform.
Consumers are increasingly overwhelmed when trying to balance the cost and carbon impact of their home energy use. At the same time, adopting new low-carbon technologies such as EV chargers, solar panels, heat pumps and smart appliances is time-intensive, confusing, and highly inconvenient, often requiring hours of research and causing “energy anxiety”. This is hampering the consumer-driven shift to a low-carbon, low-cost energy future.
Just under half (47%) of UK energy customers[iii] – equivalent to over 13 million people[iv] – would like to live more sustainably, but see it as too complicated and requiring too much effort. Over half (51%) would switch energy companies if suppliers made the process simpler and easier to understand[v].
The urgency of this challenge is only going to increase. As new regulations to slash emissions come into force – such as the 2030 ban on new petrol and diesel cars and the ban on gas boilers in new build homes from 2025 – the consumer demand for help to make the right decisions on EV chargers, solar and heating systems is anticipated to skyrocket. 10 million people are expected to switch to an EV in the next 10 years[vi], over 40% of EV owners install solar panels to cut energy bills[vii], and there is forecast to be 600,000 heat pump installations per year by 2028[viii].
AI provides a solution, helping to unlock a more sustainable future by alleviating “energy anxiety”. Powerverse, an AI-led energy management platform, automatically finds the best solutions, tailored to individual needs. Plugged into every available energy tariff on the market, weather forecasts, a network of hardware providers and electrical engineers, and thousands of other data points, it has the power to manage everything – from suggesting solar based on your roof’s size and aspect on Google Earth, to arranging installations of hardware and making sure energy tariffs provide the best possible value. Solutions are tailored to individuals, bypassing hours of research and paralysing uncertainty.
This is the first time all aspects of home energy have been brought together into a single platform using real AI technology to guide billpayers on the best solutions for their individual needs. See a short demo of the AI assistant, Powerverse Vesta, here.
Richard Britton, CEO of Powerverse, said: “AI lets billpayers unthink energy. With sky-high bills, increasingly complex tariffs, and more tech to choose from than ever before, consumers are overwhelmed with choice and complexity. Around 13 million energy customers would live more sustainably if it was less complicated – helping this group alone could see £13 billion shaved off UK energy bills, and 11 million fewer tonnes of CO2 emitted every year[ix]; it’s a massive opportunity to use AI as a force for good.
“Powerverse lets billpayers simply select their desired outcome, whether it’s lower bills or cutting CO2, and AI does the rest, bringing consumers a whole new level of control.”
Using the platform to install and optimise EV charging and solar can lead to the highest savings – around £1,000 per year. Powerverse Vesta learns driving patterns and reviews home energy use to automatically charge at the cheapest time using the most cost-efficient tariff.
Powerverse also enables customers to benefit from Demand Side Response (DSR), shifting energy use to off-peak times to take pressure off the grid, maximising the use of renewables and cutting costs for the consumer. Powerverse – by controlling solar inverters and EV chargers alone – can control up to 7kWh of power per household[x], equivalent to running seven domestic fridges for an entire day[xi].
Trained for peak performance: 5 years of real-world and in-lab AI training
Powerverse has undergone a five-year programme of real-world and in-lab AI training, while in development at Lightsource Labs – the in-house energy technology incubator of Lightsource bp. At its research and development hub in central London, Powerverse designed and built a ‘simulated smart home’, capable of mimicking a variety of home energy scenarios to train the AI platform to optimise a number of different appliances – e.g. EV chargers, solar panels, heat pumps etc. Over the same period, Powerverse Vesta has been plugged into hundreds of homes across the UK, optimising their day-to-day home energy needs to train the platform on real-world data.
Industry partners including Barratt Developments, UK Power Networks, EDF Energy and leading solar distributor, Midsummer, also partnered with Powerverse to test the technology, including using it as part of Barratt Developments’ flagship zero-carbon home project in 2021, dubbed the ‘Z House project’.
Marc Cooper, Powerverse customer from Frome, Somerset, said: “The whole experience has been great – from start to getting me up and running. It’s simple to use and the data I get is really interesting, as is the savings from my energy bill. The team are there to offer advice whenever I need it and the app itself makes everything clear and easy. I’m excited to see what comes next!”
The company is building a portfolio of products to enable customers to begin building their at-home Powerverse. This includes the Powerverse hub, giving users access to Powerverse Vesta AI; a smart EV charger; solar; batteries; and heat pumps. From today, customers can purchase the Powerverse EV charger and use Powerverse Vesta with other third-party smart products.
Scaling to meet the challenge
Powerverse plans to have 250,000 customers using its AI platform in the next five years.
With skyrocketing demand for EVs, domestic solar and heat pumps, the auto and residential sectors are at the forefront of the UK’s drive for electrification and decarbonisation. Recognising this, Powerverse is prioritising partnerships in these sectors to supercharge growth and transform the UK’s energy landscape in the shortest possible timeframes. It will also sell direct to customers via its website and app.
Midsummer, one of the UK’s largest distributors of renewable energy systems, has been a partner of the business since 2021, and Powerverse is in discussions with over 20 other major partners to distribute the platform.
Nick Boyle, Global CEO and founder of Lightsource bp, said: “In just over a decade, we scaled Lightsource bp from small-scale start-up to global solar superpower. Now, at a time when the energy transition enters homes across the UK, energy anxiety – the fear of complex unfamiliar technology and overwhelming choice – is the number one barrier to a clean energy future. Powerverse, just like Lightsource bp in 2010, is poised to meet the challenge head-on and scale to become the UK’s leading energy management service.”
The Powerverse board and team have over 100 years of combined experience in energy, technology, and consumer convenience, including:
- Richard Britton (CEO), former Co-Founder and CEO of U.S. SaaS company, CloudSense, which he grew to a $50m company during his tenure;
- Ian McCaig, former CEO of First Utility and lastminute.com;
- Nick Boyle, Founder and Group CEO of Lightsource bp;
Ian McCaig, Non-Executive Chair of Powerverse, said: “I have always believed in technology’s ability to transform customer experiences for the better. We did this at Nokia, lastminute.com and First Utility. We disrupted poorly performing legacy ways of working and old business models that were not on the side of the customer. At Powerverse, I believe that we can do the same. Years of research into simplifying and optimising how devices, domestic appliances and connected assets like vehicles, solar and heating can work together efficiently and effectively means that Powerverse has the potential to make all of this cost and complexity manageable, sustainable and economical for everyone.”
