Our model covers the cutting edge of startup-driven innovation in the energy industry. This research is backed by our proprietary data-driven innovation scouting approach in which we analyzed more than 15.000 startups to reach these conclusions.
This article was last updated in July 2024.
Dive into Our Data-driven Manufacturing Innovation Map
In the Energy Innovation Map, we’ve included the six key technologies and startups driving the digital transformation in this sector. As technology further bends the demand/supply curve, companies need to recognize and employ these innovative technologies to adapt their existing business models and meet customers’ needs. Knowing what’s next is essential to stay on top – so let’s get straight to it!
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Blockchain
Blockchain will transform existing transaction models, phasing out the need for intermediaries through the shift from a centralized to a decentralized structure. Ultimately, this facilitates other processes some of which include asset management, emission allowances, renewable energy certificates, or serving as the basis for metering, billing as well as clearing processes.
Microgrid
Today’s energy grid is outdated. The decentralized microgrid serves as an alternative solution as it is open to everyone and leads to more efficient and sustainable energy production. Furthermore, microgrid allows for the generation, purchase and selling of energy thus promoting peer-to-peer (P2P) energy trading.
Big Data
In the energy industry, big data enables the appropriate anticipation of energy demands. Moreover, renewables equipped with big data analytics out power fossil fuels and manage to gather real-time data, transmitting and combining the information with satellite, radar, and weather station data.
Storage
Storage remains one of the challenges in the energy industry. However, technologies such as Concentrated Solar Power (CSP) are aimed at solving this challenge via supplementing PV. The industry will also advance technologies such as air-breathing batteries, lithium-air batteries, thermal storage, lithium-sulfur batteries, and fuel cells.
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Smart Meters
Smart meters are already implemented extensively throughout Europe. This technology allows for the monitoring of household energy appliances and analyzing user behavior with the help of machine learning technologies, ultimately leading to lower energy consumption.
Renewable Energy
Renewable energy builds a bridge to a more sustainable energy economy. While Europe saw a record year of annual wind installations in 2017, solar solutions such as photovoltaic cells, solar-powered water pumps, printable solar panels as well as geothermal solutions will further alter the energy landscape.
Disruptive startups in the energy sector include:
- Turkish startup Blok-Z leverages blockchain to empower individuals as energy market participants. Its platform provides access to affordable, transparent, and traceable green electricity. The startup’s software ensures secure recording of electricity ownership and consumption, streamlining settlement, auditing, and back-office procedures.
- Finnish Nukka Solutions automates data collection from energy meters to IoT and building automation systems and even utility companies.
- Norwegian startup Geniess accelerates distributed energy storage. Its software assists battery storage system developers in identifying suitable customers, right-sizing battery installations, and optimizing overall business cases and system configurations. Further, the startup’s platform visualizes potential revenue from energy storage systems, including peak-shaving, arbitrage, and local backup scenarios.
- Swiss startup Energy Vault specializes in gravity and kinetic energy-based, long-duration energy storage solutions. Its primary product is a gravity battery that stores energy by stacking heavy composite blocks into a structure, capturing potential energy in the elevation gain of these blocks
- Austrian startup igecos creates a platform that reads and optimizes power consumption using smart meters. Its solution includes two modules: my-ecos and my-ecos+ Pro, designed to accommodate various Wi-Fi reception scenarios. These modules connect to smart meters via cable or infrared reading heads, allowing efficient data integration.
- Icelandic Icewind designs and manufactures the vertical axis of wind turbines which are placed on telecom towers, as well as homes, cabins, and farms.
