Blockchain Technology is Foundation of Brooklyn Microgrid
- Sep 20, 2019 10:37 pm GMT
This item is part of the Special Issue - 2019-09 - Blockchain in Utilities, click here for more
Blockchain may seem like one of those futuristic technologies we might use “someday.” But, for some residents of Brooklyn, N.Y., someday is now. In fact, for users of the Brooklyn Microgrid, someday was in 2016 when the first peer-to-peer paid energy transaction in the U.S. was made.
At the time, LO3 Energy connected about 50 homes and businesses and created the Brooklyn Microgrid, supported by TransActive Grid measurement technology and Exergy, “a permissioned data platform that creates localized energy marketplaces for transacting energy across existing grid infrastructure,” according to Brooklyn Microgrid. The renewable energy being bought and sold is from wind, solar, and battery storage sources. Company CEO Lawrence Orsini states, “This is a necessary evolution to the energy markets. People want more choice in where and who they get energy from.”
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