Transactive Grid : The Power Grid of the People, by the People
Transactive Grid empowers and encourages people to produce and share renewable energy, for a cleaner environment and money. The application of Bitcoin technology has gone a long way since its introduction to the world in 2009. Now it has reached a new milestone as it gets implemented in the energy sector. Recently, a New York-based startup, Transactive Grid introduced blockchain enabled microgrid enabling peer to peer transaction of energy. The concept, designed to empower individuals by letting them buy and sell electricity like a commodity. Until now, the energy sector has been dominated....
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Microgrid wants to let neighbors sell excess solar energy over a distributed ledger-based system, and two Brooklyn neighbors completed their very first transaction on the TransActive Grid On April 11, 2016. When dealing with solar energy, there is usually an excess of power than can be sold back to the electricity provider. But some people would much....
Peer-to-peer (P2P) power trading presents a promising use case for blockchain technology and supports transactive energy, according to a report from Navigant Research. Owners of distributed energy resources will be the first stakeholders. Blockchain technology could provide a new model for transactive energy, which refers to the economic and control techniques used to manage the flow or exchange of energy within an existing power system. The report examines the requirements for an energy blockchain, offering case studies, recommendations and implementation challenges for the energy....
Siemens and New York-based startup LO3 Energy have announced that they are partnering up to collaborate in the field of innovative microgrids through the blockchain, according to a joint press release. The microgrid, which is being planned for Brookyln and was initially started as a pilot project of LO3 Energy, is now being developed further with the aid of Siemens Digital Grid in the U.S. For the first time, a microgrid control solution from Siemens is being combined with the peer-to-peer trading platform from LO3 Energy called the TransActive Grid. The combination of a microgrid control....
The Internet has fostered the development of machines that can collect sensor-generated data and sell it in return for passive bitcoin payments, 21 Inc stated on Medium. There are presently two paradigms by which this process works: grid computing and cloud computing. The grid refers to a group of heterogeneous machines in offices and homes that different economic actors manage. The cloud refers to the homogenous servers in data centers that single entities like Google or Amazon manage. Since the launch of Amazon Web Services, the cloud has been the better-known of the two paradigms (cloud....
An historic renewable energy facility in New York has tripled its profits by mining Bitcoin. New York’s Mechanicville hydroelectric plant — one of the oldest hydropower generation facilities in the United States — is now host to Bitcoin mining.The plant is owned by Albany Engineering Corp (AEC), which was asked to restore it by the National Grid in 1986. Jim Besha Sr., AEC’s chief executive, notes that cryptocurrency mining offers triple the profit margins available from selling electricity back to the grid:“We think this is the oldest renewable energy facility in the world that’s still....