electricity cost




In every era in the history of humanity, innovation and development has been implemented in all areas to simplify the functioning of operating systems and ultimately, to increase efficiency and boost productivity. The Faraday Exchanger builds on the work of key physicists and mathematicians by going back to fundamental principles.

Innovation in the area of power and energy can be dated back to 600 BC, when Thales of Miletus, a Greek philosopher, first wrote about the concept of static electricity. He observed that if one rubbed fur on various materials, such as amber, they could create an electric spark.

Later in the 16th century, scientists such as William Gilbert, who is described by some as the father of electrical engineering, would carry out extensive research into electricity and magnetism, leading to him correctly and most significantly concluding that the earth behaves like a giant magnet.

With discoveries like these, came further findings such as Coulomb’s Law in the 18th Century. French physicist Charles-Augustin de Coulomb defined the law of electrostatic attraction and repulsion. Later in that century, Italian physicist Alessandro Volta created the first electric battery using chemicals and metals. By doing this, Volta proved that electricity could be generated chemically.

Such initial findings paved the way for Danish physicist and chemist Hans Christian Oersted who was the first person to ascertain the relationship between electricity and magnetism. He discovered this by proving that electric currents affected compass needles and created magnetic fields.

Following this, French physicist André-Marie Ampère found that current carrying wires produce forces on each other. He stated that two parallel portions of a circuit would attract one another if the currents in them flowed in the same direction and vice versa.

At the same time, Michael Faraday, one of the most influential scientists in history, was credited with inventing the first electric motor. Following Oersted’s discovery of electromagnetism, Faraday constructed two devices to produce an electromagnetic rotation. Faraday’s inventions and discoveries of electromagnetic induction and the laws of electrolysis have paved the way for inventions such as the modern electric motor, electric generators and transformers as we know them today.

By summarizing and amalgamating the findings of Coulomb, Oersted, Ampère and Faraday, a scientist named James Clerk Maxwell produced four equations that are used today as the basis of electromagnetic theory. He showed that electricity flows through many metals due to the movement of electrons amongst the atoms of the metal. The movement of these electrons produces a magnetic field, the strength of which depends on the number of moving electrons.

These studies and findings have made possible the design and manufacture of the systems that underpin modern life. However, despite the accelerated global development of the past century, the technology in use based on these findings has not fundamentally changed since the invention of the transformer by William Stanley in 1885.  

This lack of cardinal development means that today’s power systems would not be able to cope with the increasing global energy requirements without further increasing greenhouse gas emissions.

Therefore, based on these fundamentals of physics, theory from several academic streams, and using the principles of Artificial Intelligence and network optimisation, The Faraday Grid was designed to eventually replace existing technology and address the world’s global energy problem.

Introducing the energy system of the future to Washington DC

Introducing the energy system of the future to Washington DC

Our society has great aspirations for the future. As progress accelerates in every area of our lives, so does the energy system – the very underpinning of our economy – transition as well. However, an energy future shaped by evolving innovation cannot be not be realized while relying on a grid that is fundamentally no longer fit-for-purpose. On March 28 we introduced our vision for the energy system of the future to the American people. Watch our videos of the event here.

Encouraging innovation in regulated utilities: consultation - response from Faraday Grid

Encouraging innovation in regulated utilities: consultation - response from Faraday Grid

The HM Treasury’s and Department for Business, Energy & Industrial Strategy (BEIS) initiated a consultation focusing on innovation in utilities, with the aim to “ensure our system of utilities regulation is fit for the future.” As an innovator of technology that will radically transform the market and with a growing global presence, Faraday Grid is keen to engage in the conversation and submitted a response to BEIS, which can be accessed here.

The Energy Trilemma is far from being resolved - Response to Greg Clark

The Energy Trilemma is far from being resolved - Response to Greg Clark

In this response to Greg Clark MP, Founder & Chief Technology Officer Matthew Williams and Chief Economist & Head of Government Affairs Richard Dowling together challenge the idea that the Energy Trilemma is “over” and examine how greater amounts of renewables will affect energy security and energy equity, should there be no change to the current grid.