United Kingdom energy market could save up to £400 million
Open Data has already proven its strengths in various sectors such as real estate or transport. A study conducted by Guru Systems which was supported by the Open Data Institute and the UK Department of Energy and Climate Change has now explored its potential for the energy market. In this study it is revealed how Open Data can help identify hidden inefficiencies in energy generation, distribution and consumption for the UK. Eliminating these inefficiencies could save the UK energy market up to £400 million over the next 10 years. In the same period, this could save the emission of 800,000 tonnes of CO2, creating big environmental benefits.
The study examined how Open Data could be leveraged for heat networks. In these networks heat is generated and distributed from a central place, replacing individual heat production facilities in properties. Because of the economy of scale, these networks are foreseen to realise efficiency gains, lower costs and carbon emissions. Although the potential of these networks is great, the study found that due to hidden inefficiencies many networks are underperforming. With the use of real-time (Open) Data, the study found many inefficiencies otherwise hidden from the operators, enabling them to calculate the potential gains of a network without efficiency gaps.
Following a successful trial, Guru Systems has launched Pinpoint. This real-time data analytics platform allows operators to uncover the same inefficiencies. Want to know more about this system or the study? Find out by following the link below.