Problem:
An increasing number of organisations and businesses have declared ambitious plans to become carbon neutral, but lack the ability to develop a tangible action plan. This is due to lack of information, and not having an easy way to evaluate various emission-reduction measures efficiently and at scale.
Solution:
Absolar develops computer technologies that use remote sensing and artificial intelligence to capture building characteristics and evaluate their potential to improve energy efficiency and use renewable energy systems.
Its software, Carbon Action Planning Tool (CAPT), is a business-facing application that helps organisations assess individual buildings and identify measures that can be undertaken to reduce greenhouse gas emissions. The software helps users review the feasibility and cost-effectiveness of each project, supporting their decision-making process, and developing long-term action plans.
Absolar’s web-based application, Intelligent Energy Resource Assessment (INTERA), provides users with accurate and independent assessment results of the feasibility of installing solar energy panels on their buildings. It is integrated with latest market information and financial modelling and helps organisations, businesses and households install renewable energy systems to reduce energy costs, decrease their carbon footprint and gain carbon credits.
As of October 2020, over 300 local authorities in the UK have declared a climate emergency. The UK government’s intention to reach net zero is costed at £1 trillion by 2050 (DSIT, 2019) and requires 54 GW of solar capacity to be installed by 2035, equivalent to around £2.2 billion of investment per year. With this in mind, Absolar aims to achieve nationwide coverage and bring its software to all cities in the UK, and reach the overseas market by 2022. Absolar is also hoping to work with partners from the energy industry and local authorities to extend the application of its technologies.
Absolar’s software has been purchased by Portsmouth and Southampton city councils. It has received a European Regional Development Fund R&D grant, through the EMphasis3 CO2 Reduction Project run by the University of Portsmouth, University of Winchester and Greentech South.
Traction:
January 2020 – Awarded a Royal Academy of Engineering Enterprise Fellowship.
June 2020 – Received revenue from software application and established a customer-funded business model.
November 2020 – launch of software application for southeast England (planning).
“With the valuable support from the Enterprise Fellowship, Absolar has been able to comprehensively examine a series of potential business models and identify the most suitable business structure and route to market.”
