New Blockchain-Based Renewable Energy Pilot to Power 500,000 Homes

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As the consequences of climate change make their mark across the world, individuals are more attentive to their carbon footprint and are gradually shifting to renewable energy. Swytch, a blockchain based energy platform will work with Energy2market GmbH, a leader in aggregated energy trading, on an aviator program that will enable it to power homes in Germany with renewable energy while rewarding users with tokens. The huge scale aviator program intends to distribute roughly 3.5Gw of solar energy, wind, hydro and bio gas energy capacity, which is sufficient to power over 500, 000 homes. Based in Austin, Texas, Swytch combines intelligent metre and blockchain technology to reward people who generate low carbon emissions.

It does this through an open source Oracle platform that acts as a distributed authority in determining how much carbon is being displaced and how many tokens should be granted. Co founder and managing director of Swytch Evan Caron told Bitcoin Magazine his firm has already started Implementing the first version of the Oracle at assess the assets being handled by e2m. We intend to move toward full scale adoption of the Swytch protocols for complete transparency and traceability of both energy and environmental characteristics and to reward the assets with swytch tokens, he states.e2m is the European leader in total energy trading and also provider of market access solutions.

It specializes in controlling your stresses and optimizing various portfolios of generators, consumers, providers and grid operators. With a virtual power plant and its own 24/7 trading team, e2m has the power to aggregate power from decentralized generation and consumption systems and market them in real time.e2m believes that the partnership will be helpful on both parties as it sees Swytch’s strategy to tokenized incentives to be rather attractive to energy producers and the traders it serves. Andreas Keil, Chief executive officer of Energy2market GmbH said, Government based incentive programs can only do so much, and also a much more lively option is necessary.

In addition, some nations, such as Germany, will start phasing out their incentive programs in the next few decades. We will need to get ready for the future and identify new subsidy instruments and trading mechanism. ,The partnership enables e2m to gain more insight and leverage blockchain technology while empowering businesses and people to be active in their adoption of renewable energy. Energy companies have been testing blockchain technology and how it can benefit them. Ethereum based platform ImpactPPA is seeking to interrupt renewable energy to fund and accelerate global clean energy production. Scanergy was also launched as an energy blockchain for European prosumers. Scanergy makes clever energy trade between potential customers while coping with the dynamism in demand and supply of electricity.

Sources:
bitcoinmagazine.com
Swytch
Energy2market GmbH
ImpactPPA
Scanergy

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