Faraday Grid Ltd are developing an entirely new technology, the Faraday Exchanger, to address short term volatility and frequency, which when deployed across the electricity grid will enable significantly greater integration of renewable energy; increased grid stability and resilience to cyber attack; as well as contributing to reduced cost of energy for consumers.
In late 2017 we will launch our at scale prototype of the Faraday Exchanger.
the Faraday GRID is Not another smart grid
The Faraday Grid is an autonomous, responsive, electrical meta-network, agnostic to generation and consumption, with its own inertia, enabling more productive, resilient and stable electricity transfer.
Put more simply, it is the network effect of the deployment of multiple Faraday Exchangers throughout an electricity network.
the faraday exchanger: more than simply a "smart transformer"
The Faraday Exchanger is a single hardware device designed to address volatility at sub-second level.
It is a managed, high speed, power flow control device that dynamically maintains target voltage, frequency and power factor efficiently over a range of operation.
Watch our video below explaining the concept and role of the Faraday Exchanger:
The Emergent Transactional platform is a system of control that balances supply and demand across the entire energy system, using price as the key operational mechanism. It is built on an integration of software with patented Faraday Grid technology. The Faraday Grid technology underpinning the platform allows greater amounts of renewable generation to be used by removing some of the most significant electrical constraints within the grid.
The concept of the electricity “prosumer” has informed recent energy policies from the United States to the design of the European Union’s electricity markets. Meanwhile, research on smart grids, residential consumers, and their flexibility has asked how people could change their everyday energy use as a result of innovations on this area. This text explores a use case for residential prosumers and how that could inform designs of a transactional power network, with close links to the concept of energy user or “prosumer”.
What is the "Energy Trilemma"? The Energy Trilemma presents three interconnected goals that have proven exceedingly difficult to address individually. Recent history has shown that unilateral actions taken to address one dimension of the trilemma often results in undesirable reactions on the other dimensions. Hence it is currently not practical to simultaneously install new low carbon generation, ensure affordable energy for consumers, and guarantee that there will be security of electricity supply accounting for future demand.
There are multiple technologies - such as simulation studies, forecasting, and storage - for anticipating and mitigating the risks to renewable energy supplies of very rare but consequential weather events. The 21 August total solar eclipse in the United States suggests similarly that while rare, such risks arehas neither been “uncontrollable” nor “unpredictable” to policy makers. However, some of the utilized risk solutions seem to start by assuming a centralized electricity grid, where energy supplies are optimized to meet demands. As such, they overlook new possibilities of risk management in transactional electricity grids.