Germany technology firm Siemens has launched a blockchain-based energy trading platform in partnership with Allgaeuer Ueberlandwerk. The energy trading platform allows the trading of energy by small rooftop producers to businesses and households.
Local solar energy producers to sell to businesses
The project dubbed “Pebbles,” a short form of Peer-to-peer energy trading based on blockchain, and announced a virtual demo of the blockchain-based platform for optimized power trading on October 22. The company launched the demo of the Pebbles power platform in Wildpoldsried in Bavarian. It aims at maintaining locally produced electricity within the community. This will help small rooftop solar panel owners to sell energy to other businesses such as bakeries.
The Federal Ministry for Economic Affairs and energy funded the Pebbles project. Grid operator AllgauNetz, regional utility Allgauer Uberlandwekr, and Siemens jointly developed the platform. The University of Applied Sciences at Kempten and Fraunhofer Institute for Applied IT also supported the project.
The platform employs blockchain tech in linking participants through an app that allows local energy producers to sell surplus power. Private energy producers will directly sell their excess power to other consumers without the need for a middleman or grid operator. This project will also provide flexible energy from electric vehicle battery storage. The use of blockchain tech aims at ensuring that information on all transactions is transparent and immutable. Siemens said that power distribution locally represents efficient utilization of the grid.
Germany targeting decarbonization of energy system
The energy industry in Germany is moving towards integration with more renewable plants for decarbonizing energy systems. Considering most generate power intermittently depending on weather conditions, this can put pressure on transport grids. Siemens project leader Michael Metzger said that it is necessary to onboard and integrate small to attain energy transition. Pebblesproject is expected to initially run-up to November 2021.
AUEW will operate the energy platform and is expected to develop a business model for the long term. Besides, Siemens created DLT energy; other players such as BloGPV, ETIBLOGG, and SMECs are also being implemented.