An Energy Blockchain for European Prosumers
A Bitcoin-style virtual currency could save Europe’s power grids from reaching breaking point as more and more “prosumers” come on line, the European Commission’s Horizon magazine reports. Prosumers ‒ a buzzword in the emerging sharing economy ‒ are consumers who also put energy back into the network from domestic wind turbines and solar panels. The....
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A peer-to-peer marketplace based on PowerLedger's blockchain technology will enable consumers and prosumers to trade their surplus rooftop solar energy. Tata Power DDL, a leading electricity distribution company that serves over seven million residents in North Delhi, is piloting a solar energy trading project together with Australian blockchain firm PowerLedger and the India Smart Grid Forum, or ISGF.The pilot, which runs until June, aims to enable the development of distributed energy infrastructure and electronic trading resources that will encourage consumers to become prosumers —....
The European Commission (EC) released an update on the energy strategy to be adopted by the European Union in the coming years; this might bring significant changes for Bitcoin miners and crypto miners. The Commission is moving forward with the European Green Deal and intends to improve the region’s energy efficiency by integrating renewable energy […]
The blockchain could serve as the foundation of a system for connecting energy grids, delivering more efficient and environmentally sustainable energy, according to Greentechmedia.com, a news site for the global clean energy market. One company, L03 Energy, is building an “open source cryptographically secure” blockchain to manage transactions across a microgrid. Lawrence Orsini, the founder of L03 Energy, said the blockchain’s impact on energy could be much bigger than bitcoin. L03 Energy has built two nodes collecting generation and consumption data across the microgrid and sending it to....
Beginning in April, the electronics giant and university R&D team will evaluate and tweak the new trading system's performance before commercialization. Mitsubishi Electric has teamed up with researchers from the prestigious Japanese university, Tokyo Tech, to jointly design a blockchain-based trading system that can support more flexible, peer-to-peer energy trading.Announced on Jan. 18, the new system is intended to support the efficient use of surplus electricity that is generated from renewable energy sources. In particular, it is hoped that the trading system can ensure that at any....
The market for Blockchain applications in energy sector is many times larger than it is for financial sector. There’s a new world of energy, and it’s distributed. Recently, a market selling crude oil for Bitcoin has emerged. Also, the rise of solar and wind power inputs from multiple, decentralized sources is breaking the big utilities’ monopoly on energy supply and distribution. According to Lawrence Orsini, founder of Ethereum dapp developer and energy consultancy LO3 Energy, various utilities have approached his company for advice not just on handling the growing volume of renewable....