The energy platform is made of three key components: the energy cloud for the generation, distribution and storage of electricity, the digital platform for industry and customers to jointly manage the energy infrastructure, and the transaction platform for trading and services.
Alongside Sheffield, the project team is made up of researchers from Nottingham and Loughborough universities, as well as Mixergy – the market leader in innovative, grid-connected hot water storage.
New energy storage technology, which could significantly reduce household bills and help the UK achieve net zero, is being trialled by researchers from the University of Sheffield. Revolutionary energy storage technology being trialled by University of Sheffield engineers | News | The University of Sheffield Skip to main content
The Department of Energy (DOE) target for energy storage is less than $0.05 kWh −1, a 3–5 times reduction from today’s state-of-the-art technology . Fig. 4.
These technologies have since been developed and adapted to become modular thermal energy stores that can be slotted into homes alongside the household’s existing energy system – whether that’s as part of a retrofit or within a new build. These prototypes have been installed for the residents living at Nottingham’s test site.
The real cost of energy storage is the life cycle cost (LCC) which is the amount of electricity stored and released divided by the total capital and operation cost. Li-ion batteries have a typical deep cycle life of about 3000 times, which translates into a life cycle cost more than $0.10 kWh −1, much higher the renewable electricity cost.