Careful with your units and figures there Fulk.
a household cannot 'use' 429 watts, in the same way a car does not consume 40 miles/per gallon. They are rates of use, and the total consumption depends on how long that rate is maintained.
I get your gist though.
The point is not to improve generating capacity. The biggest problem we have on the grid at the moment is one of energy storage. The old days of a few nuclear and coal fired power stations (not easy to turn up and down) meeting the base demand, with a few gas powered stations, (easier to modulate) to deal with fluctuations and about 4 pumped storage hydro installations to hit those short lived peaks are now behind us.
We need to find ways of storing the energy when we have excess, and releasing it when we need it, either in times of peak demand, or at times of low wind/solar resource. This is just one option being explored, its relatively low tech, low impact, low maintenance and whilst its never going to be a Dinorwig, if enough smaller locations can be found, it might well provide part of the solution.
Another idea is that once everyone is driving electric cars, at any given moment, you'd have certain percentage of them connected to the grid charging thus creating a huge grid connected battery. 'Smart' metering/chargers could mean that if your car is fully charged, but sat there overnight say (or outside the office during the day), you might be able to 'lend' some electricity back to the grid.