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Professor Bunn awarded research grant

Congratulations to Derek Bunn, Professor of Management Science and Operations, who will be part of a Consortium Project funded by the European Commission's Energy-Efficient Buildings Scheme. The Consortium has been awarded €4.7million for a 3 year project to research integrated energy systems for co-ordinating the consumption, production and storage of energy across networks of buildings. LBS is the only business school in the research team, the other members being architects, planners and energy service companies. Work at LBS will focus upon the business and economic models for linking local-level energy operations to the wholesale market. 

Derek has explained the significance of the work as follows: "With over 40% of overall energy consumption in Europe related to the building sector and more than 70% of the building stock built before the 1970s, it is easy to understand why the EU has identified this as a priority area for innovation. Buildings can now be operated as active energy facilities - with advanced monitoring and control as well as renewable technologies, they can produce and store energy as well as consume. With the roll-out of smart meters and European harmonisation of intra day energy trading, the benefits for medium and large scale consumers are potentially substantial. In fact, several of our alumni are already engaged in new companies seeking to be innovative energy service providers in this area".

This competitive award was made under the European Commission's Horizon 2020's Energy-Efficient Buildings Scheme, as part of a wide EU research programme on Industrial Technologies, which emphasises areas of research and innovation with a strong industrial element. The objective is to achieve the EU Industrial policy goals, in order to boost competitiveness, create jobs and support growth in Europe. This is Derek's second major EU Consortium Grant on this theme in the past three years.
 
Derek is a Professor in the Management Science and Operations subject area and has been involved in research related to the energy sector throughout his academic career. More about Derek and his activities can be found on his faculty profile on London.edu.