Decentralizing and Opening Up Solar Energy Trading

Solar energy sharing

 

Solar Magazine interview IOTA Foundation Member David Cohen, a US-based expert in distributed computing and digital energy, to gain insight into the attributes that distinguish IOTA Tangle from its blockchain cousins, and how it could dramatically enhance the sharing of locally produced solar energy, thereby enhancing returns on investment for solar energy producers, lower and substantially reduce energy costs for consumers and yield benefits for society as a whole.

“Peer-to-peer energy sharing using DER  [distributed energy resources]  systems, including ‘solar plus storage,’ is part of a larger trend towards deployment and use of ‘transactive’ energy systems. IOTA provides a unique architecture that facilitates the micro-transactions that enable smart home and smart building nanogrids and microgrids to share and trade energy,” Cohen elaborated.

“Existing blockchain approaches simply do not work. The fees and energy consumption associated with processing distributed energy transactions just doesn’t scale with the transaction fees and amount of energy consumption of the transactions themselves.”

Continuing, Cohen explained that “the main ingredient of IOTA is the ability to create highly scalable P2P energy sharing and trading platforms with zero transaction fees. That’s mandatory when it comes to supporting transactive energy systems.

Read the full article in Solar Magazine

https://solarmagazine.com/blockchain-trading-peer-to-peer-solar-energy-trading/

Author: Andrew Burger

 

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