Europe faces the highest electricity prices globally, with residential rates soaring by 69% between 2021 and 2022 due to escalating fossil fuel costs, largely influenced by the ongoing conflict in Ukraine. Some regions have experienced even steeper increases, with the Netherlands witnessing an unprecedented 953% surge in household electricity prices in the first half of 2023.

Amidst these challenges, renewable energy sources like solar and wind are on the rise, accounting for 22% of the EU's power generation in 2022. The growing reliance on renewables reduces dependence on non-renewable resources like coal and natural gas. However, it also introduces variability in power production, heavily influenced by weather conditions. For instance, solar power is inherently intermittent, with its output fluctuating based on sunlight intensity—often peaking around noon and contributing to power supply volatility, yet becoming unavailable during cloudy or rainy conditions.

To better manage the power system's demand, alleviate grid load, and enhance energy efficiency, utility companies have introduced dynamic pricing. This strategy lowers electricity costs when supply is abundant, encouraging the use of high-power devices during these periods and reducing consumption when prices are high, thereby promoting energy efficiency and reducing peak demand.

Dynamic pricing offers significant benefits for consumers looking to save on their electricity bills. Nevertheless, it also presents challenges, particularly in tracking real-time price changes and adjusting household energy use accordingly, which has become a pain point for users as dynamic pricing becomes more widespread.

Sigenergy's Intelligent Dynamic Pricing Solution

Sigenergy, a leading energy innovator in energy storage systems, has identified this issue and collaborated with utility companies to integrate abundant data with AI-driven energy consumption pattern learning, enabling smart management. How does Sigenergy achieve this?

Sigenergy leverages the latest AI technology to develop the industry-first GPT-4 powered energy application, mySigen. The mySigen App, integrating weather data, aligns with utility providers' fluctuating electricity rates, ensuring users always get the best deals. When rates are low, users can draw energy from the grid or store it in batteries, and during high-rate periods, use stored energy or sell excess back to the grid.

All this can be done without human intervention. AI's adaptive capabilities allow the system to continually monitor and optimize power usage, maximizing savings. The user-friendly interface provides real-time access to comprehensive data, offering insights into energy savings. A local testimonial highlighted a customer who paid only €36 for 600 kWh in one month using SigenStor, benefiting homeowners and businesses alike.

Switch Now for Extra Savings with Home Battery VAT Returns

In the Netherlands, a new incentive encourages investment in renewable energy, allowing customers to reclaim VAT on home batteries, saving 21% on the purchase price and potentially more.

To qualify, customers must purchase a Battery Energy Storage System, like the versatile SigenStor, which integrates solar power, storage, and bi-directional EV charging. The mySigen App facilitates SigenStor management, grid trading, and enhances convenience and intelligence with AI.

Eligibility for VAT refunds on home batteries requires an energy contract with dynamic pricing and trading by charging at low prices and discharging at high prices. Additionally, the energy contract must be in the purchaser's name.

Explore how SigenStor is transforming energy experiences by connecting with our Sales Director for Benelux and France at bruno.vbost@sigenergy.com for further details.