%201%20(1).png){kind=avatar}
The potential of distributed energy markets
Subscribe to our smart subscription to read this report in full
The integration of blockchain into the distributed electricity market promises a revolution in the way we produce, distribute and consume energy. By offering decentralisation, transparency, efficiency and support for renewable energy, this technology offers tangible benefits.
Brooklyn Microgrid
In the borough of Brooklyn in New York, the Brooklyn Microgrid project has demonstrated the effectiveness of energy decentralisation. Since 2015, hundreds of individuals and businesses have been participating in this local energy market, using blockchain to sell and buy electricity generated by solar panels. This initiative has not only reduced reliance on the traditional electricity grid but has also encouraged the production of renewable energy locally, reducing CO2 emissions significantly.
Power Ledger
In Australia, Power Ledger has implemented its energy trading platform on several projects, connecting hundreds of homes. For example, in a pilot project in West Aus- tralia, Power Ledger facilitated solar energy transactions between more than 100 households. Participants saw a reduction of up to 30% in their electricity bills, demonstrating the potential savings through the effective use of blockchain for peer-to-peer energy trading.
WePower
WePower launched an ambitious pilot project in Estonia, tokenising 26 GWh of energy. This initiative not only facilitated access to finance for renewable energy producers, but also offered consumers the opportunity to buy green energy at advantageous prices. Participants in the pilot project have had access to renewable energy at up to 20% below the market price, promoting the uptake of green energy and demonstrating the economic efficiency of the model.
