Goal: Develop and demonstrate a block-chain based peer to peer energy sharing and trading platform that enables consumers to manage their home or industrial energy needs. This leads to:
Democratization: Take control of their energy sourcing while achieving higher energy security.Participative platform, where all stakeholders have the same information for decision making.
Decarbonisation: Improved energy management leading to increased energy efficiency / reduced energy consumption.Increasing commercial viability for distributed energy generation, mostly coming from renewable energy sources.Increased electrification of transport sector can be made greener by V2G integration.
Decentralisation: Eliminating the middleman, minimizing system costs.Promoting microgrids and developing cellular and local energy communities.Facilitating sector interdependence – heating, transport, electricity and storage.
Digitisation: Automation of energy procurement, billing and settlement processes.Use of AI / ML to extract data driven insights from consumer data.Determining economically beneficial trade-offs between grid expansion and smart solutions for distribution systems.