Brooklyn project will combine Siemens’ microgrid control solution with the peer-to-peer trading platform from LO3 Energy known as TransActive Grid to facilitate energy transaction between producers and consumers in Brooklyn’s Boerum Hill, Park Slope, and Gowanus neighborhoods.
It is being claimed as the first in the world and a starting point in the development of similar technologies around the world.
Siemens’ Energy Management Division CEO Ralf Christian said: “The constant evolution at the grid edge requires advanced control, automation and data analytics technologies enabling secure, stable and reliable integration of decentralised energy systems as well as supporting the establishment of new business models.
“We’re convinced that our microgrid control and automation solutions, in combination with the blockchain technology of our partner LO3 Energy, will provide additional value for our customers whether on the utilities side or on the prosumer side.”
With the new microgrid, customers with photovoltaic systems on the roofs of buildings in Brooklyn can supply the excess electricity back into the existing local grid and receive payments from the purchasers.
In April, the companies have completed the preliminary tests of peer-to-peer transactions between neighbours.
Siemens’ Digital Grid Business Unit CEO Thomas Zimmermann said: “Just as our partner LO3 Energy we are envisioning tremendous opportunities for the application of the blockchain technology, especially in microgrids with distributed and decentralised energy systems.
“Its big benefit is, that it permits transparent, efficient trading between multiple participating systems and various stakeholders while taking grid-specific requirements into account.”
LO3 Energy founder Lawrence Orsini said: “In the world of finance, blockchain technology is rapidly advancing across many sectors, but in the energy market, things are comparatively different.
“With our microgrid solution in Brooklyn, we’ll demonstrate just the beginning of what blockchain can do in the transactive energy world.”
This article is from the CBROnline archive: some formatting and images may not be present.
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