Monitoring Solar Energy Generation and Usage on Blockchain
The United States Department of Energy is a department of the U.S. federal government that directs and manages energy policies.
Challenge
Because of how the solar energy industry has grown and changed, it’s difficult for utilities to plan when they will receive or need to distribute power. These factors increase the importance of predicting and tracking the flow of solar power to the utility from small systems creating the energy.
Solution
Blockchain technology can help create a system for those producing power to sell it to the utility, and for the utility to better incorporate that energy into it’s overall energy plan. With SIMBA’s system, each users has the ability to keep a cloud-based distributed ledger that can preserves anonymity and verification when needed. That transactive grid supports interactions between users, prosumers, and energy stations and makes distributing power easier and more precise.
Results
SIMBA Chain in conjunction with ITAMCO and the University of Notre Dame has been awarded a grant from the Department of Energy to develop a potential platform for a blockchain solution for the solar energy market. The goal is trying to develop a marketplace to maximize the potential for energy creators and the utilities.
Secure Blockchain will add transparency, efficient processing, and the accurate recording of transactions for utility-sized renewable energy. The development on this project will lead to a potential Phase II award for implementation and prototyping with energy providers and consumers.
Challenge
Because of how the solar energy industry has grown and changed, it’s difficult for utilities to plan when they will receive or need to distribute power. These factors increase the importance of predicting and tracking the flow of solar power to the utility from small systems creating the energy.
Solution
Blockchain technology can help create a system for those producing power to sell it to the utility, and for the utility to better incorporate that energy into it’s overall energy plan. With SIMBA’s system, each users has the ability to keep a cloud-based distributed ledger that can preserves anonymity and verification when needed. That transactive grid supports interactions between users, prosumers, and energy stations and makes distributing power easier and more precise.
Results
SIMBA Chain in conjunction with ITAMCO and the University of Notre Dame has been awarded a grant from the Department of Energy to develop a potential platform for a blockchain solution for the solar energy market. The goal is trying to develop a marketplace to maximize the potential for energy creators and the utilities.
Secure Blockchain will add transparency, efficient processing, and the accurate recording of transactions for utility-sized renewable energy. The development on this project will lead to a potential Phase II award for implementation and prototyping with energy providers and consumers.
Meters connected through blockchain recorded readings every second and can easily and quickly transfer energy to any user needing extra power.
SolarChain
We’ve has built a proof-of-concept app that lets you view accounts, manage consumption, and buy or sell energy all on a blockchain.