AI could save EV drivers over £1,000 on energy costs

AI could empower EV drivers to take control of their home energy to cut their bills by over £1,000 per year, according to Powerverse.

Powerverse, a smart energy management company incubated by global solar leader, Lightsource bp, has just launched its new AI-powered home energy management platform which it says can help solve ‘energy anxiety’.

Consumers are increasingly overwhelmed when trying to balance the cost and carbon impact of their home energy use. At the same time, adopting new low-carbon technologies such as EV chargers, solar panels, heat pumps and smart appliances is time-intensive, confusing, and highly inconvenient, often requiring hours of research and causing “energy anxiety”. This is hampering the consumer-driven shift to a low-carbon, low-cost energy future.

Just under half (47%) of UK energy customers – equivalent to over 13 million people – would like to live more sustainably, but see it as too complicated and requiring too much effort. Over half (51%) would switch energy companies if suppliers made the process simpler and easier to understand.

As new regulations to slash emissions come into force – such as the 2030 ban on new petrol and diesel cars and the ban on gas boilers in new build homes from 2025 – the consumer demand for help to make the right decisions on EV chargers, solar and heating systems is anticipated to skyrocket. 10 million people are expected to switch to an EV in the next 10 years, over 40% of EV owners install solar panels to cut energy bills, and there is forecast to be 600,000 heat pump installations per year by 2028.

AI provides a solution, helping to unlock a more sustainable future by alleviating “energy anxiety”. Powerverse, an AI-led energy management platform, automatically finds the best solutions, tailored to individual needs. Plugged into every available energy tariff on the market, weather forecasts, a network of hardware providers and electrical engineers, and thousands of other data points, it has the power to manage everything – from suggesting solar based on your roof’s size and aspect on Google Earth, to arranging installations of hardware and making sure energy tariffs provide the best possible value. Solutions are tailored to individuals, bypassing hours of research and paralysing uncertainty.

This is the first time all aspects of home energy have been brought together into a single platform using real AI technology to guide billpayers on the best solutions for their individual needs.

Richard Britton, CEO of Powerverse, said: “AI lets billpayers unthink energy. With sky-high bills, increasingly complex tariffs, and more tech to choose from than ever before, consumers are overwhelmed with choice and complexity. Around 13 million energy customers would live more sustainably if it was less complicated – helping this group alone could see £13 billion shaved off UK energy bills, and 11 million fewer tonnes of CO2 emitted every year; it’s a massive opportunity to use AI as a force for good.

“Powerverse lets billpayers simply select their desired outcome, whether it’s lower bills or cutting CO2, and AI does the rest, bringing consumers a whole new level of control.”

Using the platform to install and optimise EV charging and solar can lead to the highest savings – around £1,000 per year. Powerverse Vesta learns driving patterns and reviews home energy use to automatically charge at the cheapest time using the most cost-efficient tariff.

Powerverse also enables customers to benefit from Demand Side Response (DSR), shifting energy use to off-peak times to take pressure off the grid, maximising the use of renewables and cutting costs for the consumer. Powerverse – by controlling solar inverters and EV chargers alone – can control up to 7kWh of power per household, equivalent to running seven domestic fridges for an entire day.