New Technology Ventures Assignment 1 - 1302 Words

New Technology Ventures – Assignment 1 Angela Ririe Piclo, the eBay for renewable energy “Distributed renewables and smart grid technologies are the future. We’re challenging the energy industry and reinventing how things are done. We’ve built Piclo - an online Peer-to-Peer Energy Marketplace that lets people buy and sell energy directly.” (Openutility.com, 2016) The Idea Piclo, the UK’s first online marketplace for renewable energy has been developed by Open Utility (a London based innovative energy start-up) in collaboration with Good Energy a 100% renewable electricity supplier. At present 7% of the UK’s electricity is produced from renewable sources and this percentage is expected to grow to 30% by 2020 as a result of EU targets.…show more content…Piclo’s granular analytics can help companies shift demand away from peak times and simplify sustainability reporting • For energy generators: At present the only way companies that generate their own power can monetise excess capacity is to sell it back to the grid on a Feed-in Tariff (FiT) basis.