The #SandboxCotec session organised by Fundación Cotec took place this week and it was an honor to be part of it. The current need to create a regulatory sandbox to develop, test and scale innovation and technology, and the need to involve regulators at this early stage not only to favor the demonstration effect within the sandbox, but also to define the upcoming regulations, were some of the topics raised by an outstanding audience from both the public and private sector.
Our CEO Ignacio Madrid Benito shared his vision on how sandboxes can be used as a tool to impulse the energy transition by enabling the integration of innovative solutions related to storage, distributed generation and demand side management. The implementation of these technologies could be the solution to the natural resource dependence and also to the current congestion of the grid which is caused by the increasing electrical demand (to charge EV and new electrical equipment both residential and commercial for instance). Ignacio also explained how these technologies would help to avoid electricity extra-charges derived from an oversized energy system. He also presented a list of 10 sandboxes all around the world (UK, Germany, Canada, Singapore and Belgium, among others) and highlighted Spain’s potential to be involved in the opportunities derived from the ongoing energy transition.
The conclusion is clear: a regulatory energy sandbox is needed to allow new-to-market entrants or tech startups, an opportunity to test their business models and help encourage innovation in the industry.
More information about energy regulatory sandboxes and the acceleration of the energy transition through a dynamic regulation will be published soon. Stay tuned!