Brooklyn Microgrid Gets Approval for Blockchain-based Energy Trading
- Dec 24, 2019 7:25 pm GMT
Brooklyn Microgrid, a blockchain-based peer-to-peer energy trading system, has been approved to conduct a 12-month pilot program for energy trading on its platform, according to Adrienne Smith, executive director of the project. The pilot will begin in the early part of 2020 and forty prosumers and 200 consumers are participating in it, she said. Consumers will be able to bid for excess energy retailed on the market by prosumers using the app. Smith said the marketplace for energy trading on the platform will be an open one and the organization does not intend to set a minimum floor to the trading price. That said, she hopes that prosumers will be able to profitably sell excess energy to other consumers, instead of selling it back to the utility at net metering rates. “This (the pilot project) will help us determine whether it is possible,” she said, alluding to the profitability question for prosumers.
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