10091612Bloom Renewables Rural Energy NetworkClosedCollaborative R&DInnovate UKBloom Renewables ("Bloom"), a solar installer located in the Devon, is seeking to establish a 100% green, virtual power market focussed on energy transactions within the rural economy. It will create a digital marketplace from rooftop solar from local farms, agribusinesses and other local renewable energy generation and match that to local demand within the rural business community. It is an entirely new concept - using existing technology in a novel way to make a horizontal market between peers, reducing the role of the traditional energy supplier to a back-up role. The process will involve software that matches and bills buyers and sellers developed by a UK based retailer using blockchain technology and smart meters. The virtual power network will be managed through other software that monitors and controls real-time supply and demand information from unrelated consumers and generators. Bloom will manage the system in real-time, calling on batteries when needed, buying energy when cheapest, managing dispatchable energy sources and automatically controlling avoidable load during peak hours. This should create a balanced, optimal cost, stable and fully green market. The digital system is able to predict weather data and predicted wholesale pool prices to manage the energy sources days ahead. Once operating, the market should permit better prices for both consumers and generators. It should provide local farmers with secure new sources of revenue as well as stimulate their move to zero carbon sources of energy. It should stimulate the installation of new renewable energy sources in line with Government commitments to Net Zero. The market's aim is to offer consumers the ability to acquire 100% zero carbon energy on a secure basis with minimal changes to their existing infrastructure. It should also help to provide well payable tech-focussed jobs within the rural economy and allow farmers to access net zero- related subsidies set out in the new Environmental Land Management Scheme ("ELMS"). Bloom is trialling of the market with a large agribusiness-based retailer, that both consumes and generates renewable energy, as well as various Devon-based farms and rural consumers. It is seeking innovation funding to prove the concept. Once tested, the VPP could scale significantly, using digital tech to make energy supply greener, cheaper and more efficient. The trial will develop the tools, systems and marketing material to grow the market from concept to scale. It's results and efficacy will be evaluated by a third-party study from Exeter University.