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A new service has been launched that will produce and place one unit of renewable energy on the grid for every unit used in participating homes.

Former Bain & Company utilities and alternative energy consultant Hayden Wood launched the service, called Bulb, in April 2015, along with former Barclays gas and electricity trader Amit Gudka, Techworld reported 5 August.

Wood served as Case Team Leader at Bain from 2010 until 2014, focusing on corporate strategy, cost improvement and commercial due diligence. He is a graduate of the London School of Economics.

“Around three quarters of people say they want to switch to renewable, but today only one percent of homes have chosen to be supplied by a hundred percent renewable supplier,” Wood said. “There was a demand for this, especially among younger people.”

Bulb shows customers how much they save on electricity bills by switching to the service.

The future of renewable energy in the UK depends on demand from customers, Wood said. “There’s already sufficient renewable energy to provide the demand today,” Wood said. “In the future, the demand for that needs to come from the consumer, not from subsidies.”

Bulb’s major obstacle to growth is in the low number of people who make the switch to renewables each year. Bulb is working to improve these rates by providing solid customer service, and making the transition free for customers.

Bulb will next roll out smart meters to provide customers with detailed data on their energy usage.

“Every day we’ll receive 48 meter readings from a home, as opposed to, at the moment, we’ll take maybe a reading a month,” Wood said. Bulb plans to hire engineers to automate operations and unlock smart-meter data. Wood said he hopes this data will help customers make smarter choices about their energy use.

bulb wood gudka

Jax Jacobsen for Consultor.news

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