The Kansai Electric Power Co. (KEPCO, based in Japan) and Power Ledger (an energy tech firm from Australia) have completed a joint trial of a blockchain-based system for post-FIT (feed-in tariff) surplus power in Osaka. GM of KEPCO, “…Power Ledger’s product presents significant opportunities for prosumers to sell their excessive energy at more advantageous prices and for consumers to buy it at more affordable prices.”
The United States Department of Energy (DOE) has shared that it has granted a $1.05 million to four separate organization (University of Denver, Virginia Tech, BEM controls, & ComEd) blockchain-powered technology to be implemented for commercialized transactive energy platform. The BEM explained, “The BEM Controls software incorporates time-based energy management and control of interior spaces in buildings to achieve greater energy efficiency, reliability, and resiliency.”
A report has been published by the U.S. Congressional Research Service which have elaborated the detailed of the implementation of energy about the cryptocurrency mining activities. The report explained, “Some argue that sustainability concerns due to energy consumption are misplaced, and that the competitiveness of Bitcoin mining means that only miners with the most competitive mining hardware and the lowest electricity costs will persist over time,”
BPX Energy (onshore oil & gas unit) has collaborated with Ondiflo (blockchain firm working in oil & gas industry to finish a Proof of Value (PoV) project. The CEO of Ondiflo, Jean-Pierre Foehn explained, “We are confident that when moving to production with the integration of the various back-office systems involved in the Procure-to-Pay, the impact of automation will be fully realized and will lead the industry to quick adoption.”
The largest and most respected natural gas distributor in China, ENN Energy Holdings Limited has shared that it has started a digital revolution on the VeChainThor blockchain. It has partnered with VeChainThor blockchain with the aim to build state of the art quality control and supply-chain management. They also plan to make use of IoT merged with blockchain to guarantee quality and safety by keeping track of necessary records in an accurate and timely manner.
A major trading company based in Japan, Marubeni Corp has unveils they have issued a loan to another blockchain-based power trading platform, WePower which is located in Lithuania which allows small- and medium-sized enterprises to more easily buy power. The CEO of WePower, Nikolak Martynuik has expressed, “The only discussion point then, through the platform, is the price. That takes a lot of the complexity out.”
The German equipment manufacturing major, Bosch has come up with a plan in creating a refrigerator working on smart contracts. It was revealed by the energy company, Wien Energie which just recently became a partner of Bosch, the blockchain technology allows monitoring the consumption of electricity. Smart contract stores the energy volume in kilowatt-hour, allows user to track its source and also give information about the CO2 emissions.
A clean energy company named Clearway is currently eyeing on utilizing the innovative technology of blockchain for green power credits. The company reported having recently partnered with a tech startup specializing in blockchain technology for tracking and trading of RECs (renewable energy certificates) in the USA, since REC need to pay 3-10% to brokers reducing such cost will boost clean energy.
The Energy Web Chain (EW Chain) has been successfully launched by the Energy Web Foundation (EWF). EWF has claimed that the newly-launched EW CHain is the first public, open-source enterprise-grade blockchain for the energy industry in the world. The list of stakeholders associated with the project which includes major companies were also revealed in the announcement made in their social media account.
ABB (an Inverter manufacturing company headquartered in Switzerland) has announced that it launched its blockchain platform, Prosume with partnership with Italian utility Evolvere and belive that this could boost the role of solar energy in peer-to-peer (P2P) energy trading. Giampiero Frisio, Head of ABB’s Smart Power Business line said, “We are keen to work with like-minded organizations, such as Evolvere, to test the potential of blockchain technology in solar systems, which will give us a powerful platform for future energy sharing solutions,”