Upside Energy is a new UK based start-up, which has created a way to pool together energy stores owned by individuals and businesses that can then be distributed more efficiently according to demand. This is done by selling the energy that is not being used back to the grid and paying people to use less electricity during times of peak need. The environmental benefit comes from temporally distributing the energy, shifting the demand rather than increasing it and thus, decreasing overall greenhouse gas emissions. The company aims to be able to eliminate 309,000 tonnes of CO2 per annum by 2025.
Reducing emissions of CO2 into the atmosphere is imperative in order to slow down global warming and to limit the global rise in temperature to below the recommended 2°C. Innovative ways to cut down emissions through more efficient energy distribution systems such as created by Upside Energy can help with reaching global climate targets. However, are such efficiency savings enough?