IE-CHP’s prototype fuel cell technology intends to use mains gas to generate electricity and hot water in people’s homes, which energy analysts say could introduce 5GW of new flexible distributed capacity into the energy system.
“Using this technology, the UK could convert millions of homes into mini power stations,” said IE-CHP Technical Director Mark Bugler.
“This would turn consumers into producers of affordable energy, and release energy firms from the need to build and maintain costly new power stations and electricity power lines,” he added.
According to a report from energy analysts at Ecuity a roll-out of five million fuel cell units across the UK by 2030 would be equal to around 14 major new gas power generation units, and could help consumers save around £1,000 per year on energy bills.
“This gives consumers more affordable energy, and adds a new level of flexibility to our country’s generation portfolio. By putting power into the hands of consumers, it is a genuine win-win,” Bugler added.
The developers have raised a total of £800,000 which will be used over the next twelve months for further testing and development.