Renewable Energy Trading
Renewable Energy Trading – Decentralized Renewable Energy Trading Driven by German Industry and Demonstrated in New Field Trial 4.0 PONTON Blockchain Solution Enables Regional Renewable Energy Trading
In December 2019, several coordinated field trials were successfully completed as part of NEW 4.0, a large multinational project with stakeholders from all industries and across the energy sector value chain. PONTON contributes to the NEW 4.0 project by developing a blockchain-based solution for fast local intraday markets together with technology partner HAMBURG ENERGIE “Energieplattform”. The energy platform provides a market system to facilitate the synchronization of fluctuating production and consumption.
Renewable Energy Trading
Various innovative use cases have been successfully implemented in real life, including flexible short-term agreements based on individual delivery intervals between large industrial customers such as TRIMET Aluminum SE, ArcelorMittal Hamburg GmbH and Aurubis AG . These manufacturers require huge amounts of energy for their production processes and sometimes offer surplus energy that they can sell in the short term. NEW Energy Trading Platform 4.0 “Energy Platform” allows you to monetize flexibility by selling energy to consumers with unexpected demand for additional energy. This allows for more efficient use of regional flexibilities not used in production processes. Other market scenarios during the field trials involved municipal suppliers: Stadtwerke Norderstedt supplied surplus green electricity produced by wind farms to its retail customers, while Stadtwerke Flensburg demonstrated industrial connectivity by connecting its power plant to the “Energieplattform”.
Can Blockchain Help Us To Address The World’s Energy Issues?
For the first time, actual electricity generation and consumption was automatically adjusted just seconds after a transaction was made on a market platform, a major step forward in ensuring real-time supply in the long term. Electricity trading on traditional intraday markets often closes half an hour before the start of the supply period. It is difficult to predict the unstable production of renewable energy from sources such as wind and solar, as well as the excess energy of industrial processes, which often change at the last minute. As a result of shortening the time gap between trade and delivery, efficiency is increased.
In addition, the origin and sustainability of the electricity generated is transparent on the Energieplattform, which is a special advantage of the underlying blockchain solution. This can be done even if the generated electricity changes hands several times before delivery, even if it is used in different energy sectors (for example, electricity and heat production).
Energieplattform technology is based on different software components: PONTON has developed a decentralized market based on the WRMHL blockchain (https://www.ponton.de/wrmhl/) and HAMBURG ENERGIE has developed a remote control adapter that enables real-time control time. . production and consumption of equipment based on transactions between counterparties. With the open API, Energieplattform provides an interface that facilitates the connection of clients such as automated trading bots. The WRMHL platform, itself based on Tendermint open source blockchain technology (www.tendermint.com), provides very fast block times (1 second) and supports high transaction throughput so that large order volumes can be processed, which occurs when trading is used. robots. The Energieplattform’s special trading logic enables anonymous over-the-counter trading of local energy without the need for an intermediary, which generally results in lower transaction costs.
The German Ministry of Economic Affairs and Energy recognized the field trials as a great success and an important milestone towards the energy system of the future, bringing Northern Germany a step closer to transitioning to 100% renewable energy sources  . The state governments of Hamburg and Schleswig-Holstein as well as the Federal Ministry of Economic Affairs (BMWI) support the NEW 4.0 project as part of the SINTEG program (Smart Energy Showcase).
Renewable Energy Trading: What It Is And How Does It Work?
Learn more about the NEW 4.0 project and discuss other challenges in the energy transition at the upcoming E-World (February 11-13, Essen, Germany). At its stand (Hall 1 / Stand 1-318), PONTON will present the NEW 4.0 project and other innovative solutions for market flexibility management and B2B integration for efficient energy data exchange.
 5.12. NUA 4.0 (in German) Wichtiger Meilenstein auf dem Weg zum Energiesystem der Zukunft Energiewendeprojekt NUA 4.0 führt erfolrichchen Feldtest durch
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You can use the following form to reset your login password. After submitting your application, you will receive an email with a confirmation link. Click the link to reset your password. Gurgaon, Haryana, Apr 5, 2021 () — Uttar Pradesh has taken the lead in implementing South Asia’s first Blockchain-enabled P2P solar trading.
Following the UP government’s initiative to introduce Blockchain Technology (BCT) for its rooftop solar segment to enable Peer2Peer (P2P) energy trading, Delhi is on its way to making P2P solar trading a reality.
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The two blockchain-enabled P2P solar panel trading projects in UP and Delhi are being run by the India Smart Grid Forum (ISGF) in collaboration with Australian blockchain company Power Ledger.
The Union government has set a target of installing 40 gigawatts of rooftop solar power plants across the country by 2022. The Indian Renewable Energy Development Agency (IREDA) shows focus on the SDGs.
A P2P trading platform is a decentralized trading system where two independent parties can come together to buy and sell services without intermediaries between them. The platform will provide search, verification, trading and payment processing services.
IoT smart metering devices register the energy released by the consumer at a certain point in time and also register the energy used by the neighbor for the same time. This verification of production and consumption is done on the Blockchain platform. Smart contracts perform a transaction based on a predetermined rate.
Renewable Energy Markets
P2P platforms help by facilitating trade of renewable energy between consumers. India will decriminalize the electricity distribution business and open up access to retail consumers, allowing them to buy electricity from anyone, anywhere,” said ISGF President Reggie Kumar Pillai. “In this case, a trading blockchain platform will P2P electricity is a perfect starting point for the country’s clean energy revolution.”
The project enables the development of an integrated ecosystem of distributed energy resources connected to the grid, including electric vehicle charging stations and battery energy storage systems (BESS) that can participate directly in the P2P Market.
In order to achieve the goals of digitization in energy generation and distribution records, it is essential to keep an open and unencumbered ledger with cryptography, BCT can help a lot to achieve the goals successfully.
“Blockchain technology, if properly studied, will benefit the energy industry in many ways, among which it is worth mentioning peer-to-peer trading, optimization of system operations, markets, consumers and resulting transactions. In addition to its inherent qualities of decentralization, transparency and non-transferability of registers, blockchain-based solutions will enable consumers and small producers of renewable energy to play a significant role in the market penetration and use of renewable energy sources and they will act as an irresistible force in the market. the energy market,” Blockcube expert.
Graphic Design Of Micro Grid Prosummer And Consummer In Renewable Energy Trading Digital Platform. For Peer To Peer Electical Stock Vector
Due to the benefits of blockchain-based P2P energy trading, countries such as France, Australia, the United States of America, Japan, Malaysia and Thailand are using these decentralized platforms. It is clear that blockchain is being explored worldwide to reduce transaction costs, increase transparency for stakeholders and above all to achieve sustainable goals. There are different use cases for upstream, midstream and downstream BCTs in industry.
The recently released National Blockchain Framework and the implementation of the world’s largest DLT use case in telecommunications recognize the role that blockchain technology will play in digitizing the Indian economy.
Blockcube is one of the leading blockchain research centers providing consultancy and development across a range of industries. Blockcube Technology is a technology partner of India’s Software Technology Park, other government organizations and corporations.
Blockcube Technology Limited [email protected] +91-124-4075082 Blockcube Technology Limited, 201, 2nd Floor Welldone Tech Park, Sector-48, Sohana Road, Gurugram, HaryanaPh: -+91-124-4075082 https://blockcube . What/
Renewable Energy Trading Summit
Tags: Blockcube , Blockchain Technology , BlockchainTradingPlatform , P2P Trading , Energy Trading
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