Meet swiss town using Blockchain Trade solar Energy

0
68

In the Schwemmiweg district of St. Gallen, a crypto-startup community is using Blockchain to trade excess solar energy. The project’s long-term pilot is gaining local support, but regulations must be put in place before the system can be widely adopted. According to the study, households and retirement homes consumed 25 percent of the energy produced by their neighbors. In contrast, less than half of the energy produced by the generators was consumed by the participants. The remaining eighteen percent of the generated power was sent to the utility network.

In the Quartierstrom trial, 37 households in Walenstadt, Switzerland, each with a combined solar capacity of 200 kW and at least 80 kWh of battery storage, were recruited. To create a microgrid, the researchers wanted to engage the participants in the trading of local electricity. They chose blockchain technology and distributed ledger technology. During the trial, participants could set the price limits for local power trading.

The project involved 37 households in Walenstadt, Switzerland, who traded locally produced power for one year. The households used the blockchain to track and manage their electricity supply. In the end, they generated three-thirds of the power they consumed during the trial. This was twice the amount of electricity they had before. With this new method, the residents of Walenstadt can take advantage of the growing interest in renewable energy.