The Japanese company Kyocera, manufacturer of modules that generate electricity through solar energy and storage, has partnered with LO3 Energy, with which it intends to test the virtual power plants (VPP) based on the Blockchain, in order to improve the energy distribution, according to a press release published on February 25.
This test is scheduled for February 28, 2019, and the test will allow both companies to evaluate the viability of the VPP with what they intend to promote a society with low carbon emissions without fuel or carbon emissions based on the network of distributed consensus of equal to equal (P2P).
This development in innovation is supported by Kyocera, which has a net income of 81,790 million yen ($ 736 million), and which will provide for the project a small VPP using its solar photovoltaic (PV) modules and batteries, while LO3 Energy, headquartered in New York, will be responsible for managing the flow of energy, using as a tool its cutting-edge technology based on distributed accounting technology.
This block chain technology of LO3 is based on a distributed consensus network of peer to peer, it will be used in order to verify and record transactions, as well as distribute the energy with its own solar panels through a microgrid, a configuration that would reduce the burden on the wider network, instead of resorting to large power grids.
For its part, the Kyocera company has distinguished itself by specializing in solar energy generation systems and storage batteries, with which it can develop this type of tests, in which the Japanese government assumes a significant leadership, allowing the development of a new experience in distributed energy resources controlled remotely.
The CEO of LO3 Energy, Lawrence Orsini, explained.
“The need to reduce carbon emissions exerts a profound impact on energy suppliers around the world, while the use of blockchain can allow the micro-energy transactions that are necessary for face this challenge.”
He also stated that the combination based on Kyocera’s experience on energy combined with the knowledge of the LO3 Energy block chain, can potentially cement the basis of a new generation of virtual power plants, with the benefit of being able to accelerate the transition from Japan to a low carbon society.
The project includes the installation of several photovoltaic systems and batteries in a test site to simulate multiple generators. These virtual energy prosumers will be able, through the LO3 Energy platform, to carry out transactions autonomously with other prosumers. “The peer-to-peer platform of LO3 Energy helps control power generation and availability among connected users, which facilitates an effective test environment,” Kyocera said in a statement.
The Japanese corporation also commented that the project will benefit from the experience gained by installing several power generation systems and storage batteries for the VPP test projects, led by the Japanese government, and that the company will use the results of the project to Improve your experience in remote controlled distributed power.
In May 2018, the global technology giant IBM partnered with the blockchain firm Veridium Labs to tokenize carbon credits that will allow companies to track their carbon footprint with the Blockchain, which also addresses the problems of global warming.
In November of last year, the scientific journal Nature Sustainability reported that cryptocurrency mining processes consume more energy than mineral mining. According to the study, the extraction of copper, gold and platinum requires less energy to generate a United States dollar than the main cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).