“We do not inherit the Earth from our ancestors; we borrow it from our children.”
– Native American Proverb
Slovak start-up Fuergy founded by Vladimir Miskovsky aims to turn green energy sharing into a reality for households. One of the latest is a Slovak start-up that is now fashioning itself as a solar energy Airbnb, with the goal of making green energy sharing into a reality for households. Instead of the usual model of feeding it to the grid, home consumers who produce surplus solar or wind power will market it directly to other members of their group using the Fuergy platform.
This way high transaction fees are bypassed by the user, helping them to reap more from their renewables. Meanwhile, the consumers are willing to purchase the pooled electricity at lower prices than purchasing it from the main grid—a classic win-win for both the seller and the consumer.
Obviously, it can be a very difficult decision, and nothing like renting an Airbnb to share anything as volatile as solar and wind power. After all, at any given time of the day, the device should be able to reliably forecast power generation and consumer usage so as to only procure what is required or sell what is surplus to requirements.
This is where Fuergy’s platform for artificial intelligence (AI) joins the equation. By leveraging its ability to communicate with IoT (Internet of Things) products, including a wide selection of home appliances, including heat pumps and washing machines, Fuergy optimizes energy consumption.
FUERGY has developed its own patented, highly scalable hardware system and software called “brAIn” powered by AI. This unique approach helps optimize the consumption of electricity and improve the efficiency of sustainable sources of energy. You will substantially reduce your electricity costs and reach an outstanding 3-year payback period for investment in your renewables by automated energy management. They make powerful & sustainable renewables for all. Their motto is: “Consume less, share smatter.”
Fuergy may also plan energy usage to hours when energy is cheapest, or also store it in the form of heat or ice, by connecting to the IoT. The machine is able to, for example, change heating settings by using a weather monitoring system and user habits research so that no electricity is lost for heating an empty house at the beginning of a sunny day. The AI machine is also able to calculate the amount of energy it can sell or buy to ensure a trouble-free function of the distribution point on the basis of these inputs and parameters. As Branislav Safarik, Fuergy’s COO told the Observer:
“Green energy is highly weather-dependent, and therefore, it is very hard to predict how much energy they will produce throughout the day. So, first of all, we need to get the renewables under control. This can be done with the help of batteries or other kinds of energy storage. We can store green energy and use it when needed. This must be done at the level of energy supplier.”
The transparent, distributed and dynamic energy platform that Fuergy is developing would probably be a quick sell because of one main attraction: dramatically lower energy costs. Fuergy’s corporate pilot project has now achieved 50 percent lower electricity prices.
By Swasti Salecha