"Change is right on our doorstep"

Last week innogy took part in the trade fair E-World in Essen. Inken Braunschmidt, co-founder of the Innovation Hub and innogy's Chief Innovation Officer, talked about the concept of the Hub, why machines are going to be the customers of tomorrow - and what the future of electricity will look like. This is an excerpt of the interview, that was broadcast live on Periscope and Twitter.

Inken, one thesis of the Innovation Hub is: “What if electricity would be available for free in the future?” What do you mean by this? INKEN BRAUNSCHMIDT: Our hypothesis is that electricity won’t cost anything in future. This could happen for example, if the development of technology allowed the production prices to drop drastically. This way we all would be able to afford to buy solar panels very cheaply and to produce the lion’s share of our own electricity. Or if a breakthrough innovation in the battery or storage technology happens. Energy will be abundantly available.

So we shouldn’t conclude any long-term electricity contracts anymore, if this is going to happen so soon? No, it is not all done at one specific point in time. I think this also depends on how open people or customers are for change and new business models. It will take some time until all of our customers get used to new technologies, products or business models. But we also expect to gain customers who like these kinds of digital business models beyond our own customers and markets.

Find out more about this concept and about further new solutions like the Car eWallet by watching the entire video interview with Inken (available in German language only). For further insights from the E-world, the leading energy trade fair in Germany, check innogy's German Twitter handle. Inken Braunschmidt at E-world