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Homeowners could be given a boost with their energy bills, with Octopus Energy teaming up with manufacturers to develop a new generation of home battery storage options.
Battery storage typically works by allowing units to siphon in power and store it, chemically or by other means, when the cost of energy is low. Later, when usage price increases, that energy can be reintroduced to the home system to avoid using the higher-billed energy.
In theory, as well as lowering bills, it can also reduce strain on the wider grid at key demand times once widely adopted.
The ability to integrate home storage batteries with solar panels, for example, can give a home its own source of low-cost energy beyond just when the panels are functioning – like after dark – and the battery’s management system should be able to maximise the efficiency of the home’s energy use overall.
Octopus already have plans to release the “Nook”: two battery storage options for bigger or smaller amounts, each of which can store between 2 and 10 kWh of energy. The latter is a little over a medium-sized house’s daily energy use, according to Ofgem figures.
Now, through their agreement with zero-carbon new energy technology firm CATL and lithium-ion battery tech firm Ampace, Octopus Energy will look to develop new ranges of cutting-edge options, as they seek to increase the lifecycle of such systems and produce far more affordable home batteries.
At its most efficient, a home battery system should be able to offload power back to the grid too, to help further cut household energy bills.
As well as the Nook battery options, Octopus already offer other green energy solutions including heat pumps and EV chargers.
Jason Zhu, president of energy storage at Ampace said: “The future of energy is not just about generating or storing more power, but about making energy smarter, more connected, and more accessible.”
The advance of battery technology and intelligent energy management could “fundamentally reshape how energy is delivered and consumed,” he added.
Greg Jackson, CEO of Octopus Energy Group, agreed that the partnership “will transform home energy storage.”
“Together, we’re building next-generation batteries where hardware and software work in complete harmony to slash energy bills and speed up the green energy transition,” he added.
Raymond Ye, president of residential energy storage systems at Ampace, added: “Europe’s energy transition is creating growing demand for smarter and more flexible home energy solutions; with this partnership we see great potential to accelerate innovation and deliver greater value to the market.”
