Thursday, August 11, 2016

Block chain technology: solar system owners become digital electricity traders – WirtschaftsWoche

The customers of utilities fledge. They do not only change their electricity or gas supplier, but also generate their own electricity, which makes them independent. From formerly passive consumers are producers that produce their own energy with its photovoltaic system.

But that’s not all: you can now power even even sell directly. This is a pilot project from New York, was first sold in the last April solar electricity directly into the neighborhood and also charged the same.

makes this possible the block chain. With the database transactions are also possible without an additional instance as a municipal utility. “Use the block chain technology consumers of energy suppliers can be emancipated,” says Udo Sieverding, energy expert from the Verbraucherzentrale Nordrhein-Westfalen.

For the consumer advocates reason enough, a study in the energy experts of accounting and consulting firm PwC to commission. “With this study, we are exploring the opportunities the currently much-discussed block chain technology offers consumers”, says Everding.

energy sector before profound change

The study shows that block chain in the energy sector can fundamentally change and a direct transaction between producers and consumers of electricity is possible. “That would make the classic business model of utilities in question,” says Norbert Schwieters, Head of Energy at PwC.

But not only the classic catering, but the entire energy sector would face a radical change, as Schwieters stressed: “The established system of power generators, transmission and distribution system operators to supplier can be simplified radically by producers and consumers are set directly and the network controller is adapted to the changed conditions. “

at block chain, the data in a transaction will be encrypted and stored. The collected information about all transactions are grouped into blocks for all participants and saved on all computers involved. In the energy sector thus continues a trend in the financial sector, where the Internet Currency Bitcoin has long been established. Also it is handled by block chain and makes for transfers, the bank unnecessary.
For consumers, the block chain principle very interesting. Finally, the operators of wind turbines and cogeneration plants could sell electricity on a large scale even. This decline in electricity prices would be possible, because the fees of public utilities, power companies or power exchanges disappear, but also reduces the transaction costs and increasing competition.

Many regulatory issues are open

Block Chain offers numerous options in the energy sector. Not only the direct exchange of energy is possible but also the measurement and billing of electricity would be conceivable. Use the block chain and the authenticity of electricity certificates or the condition of equipment could be checked as smart meters, networks or generation facilities.

So diverse are the ways currently are narrow limits of the block chain yet set. Because many potential energy projects can be currently difficult to implement. “Many regulatory issues are open and yet to be clarified. Therefore it is too early yet to assess whether this transaction platform will prevail in the long term in the energy sector. That depends largely on that security of supply and the protection of data is ensured, “says Schwieters.

A British start-up wants the misnomer an end to – and all goods flows documented in a tamper-proof database

But the train can not be stopped.. New technologies will change the energy sector irretrievably Verbraucherschuetzer Sieverding is convinced: “Whatever systems always prevail: It is certain that the digitization in the energy sector is driving new developments and consumers opens up opportunities.”


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