Has the day of the smart computer controlled micro-grid arrived? They reduce dependency on power from large centralised utilities whilst at the same time empowering communities to become self sufficient in energy supplies. Disclaimer It is rare for me to write on a topic that Sat solving bitcoin chart do not understand.
It is equally rare for me to spend several hours trying to understand a topic and to be not much wiser after doing so. Some or all of what I have written here may turn out to be nonsense and readers are well advised to take no actions based on my words. Microgrids For a long while, I have read energy articles in the Green Tech Press which I believe are utter rubbish and I have understood the technical reasons why this is so. More recently I have been finding it increasingly hard to understand the jargon particularly with regards to the application of blockchain technology and I decided it was time to try and find out what is going on. But the lasting impact of bitcoin may end up being blockchain, the technology that makes the currency work. Blockchain has the potential to integrate renewable energy into the electricity grid in a way that is clean, easy and meaningful to the average energy consumer. This is all doable because Carros is home to the world’s first smart solar grid: a large scale experiment to integrate renewables into the grid.
GE worked with French grid operator Enedis to install solar panels on residential and commercial rooftops, implement demand response technologies and create battery storage across the grid. Home owners who are gone during the day can sell their electricity to businesses that need more daytime energy. And when they return home they can buy electricity from local batteries, electric vehicles or from businesses that can flexibly respond to changing energy prices. Carros will probably end up being dependent upon for most of the time. Blockchain is described as a ledger where a transaction and transaction history for a block is recorded securely.
A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. An additional feature of the system is that ALL the records are stored on ALL the participating computers. These features are supposed to provide unprecedented levels of security. Bitcoin needs to go as well. It consumes more electricity than almost all countries in Africa other than South Africa.
In the energy world, Blockchain technology is used to facilitate transactions between the supplier of renewable energy, namely solar PV, and consumers. A buyer may contract with a seller directly bypassing all middle men. On one side of the street are five homes that produce some of their own energy through solar power. On the other side are five consumers interested in buying excess energy from their neighbours. Lawrence Orsini, co-founder of Transactive explains that the blockchain makes it easy for anyone to set up and enforce contracts, with the transaction following automatically. 1 MWh and comes into existence when the owner of a PV system decides to sell 1 MWh of power.
Does the solar coin cease to exist when the buyer has used the electricity purchased? One MWh is rather a lot. Philipp Grunewald of the University of Oxford. At this point an alarm bell went off in my head. One thing that is not at all clear to me is if the buying and selling trade has to match in space and time.