1. Sustainability problem: the contribution of the electric sector to climate change
Climate change is one of the most urgent issues of our time. The electric sector is a key culprit in driving this path as the economic sector contributing more to climate change than any other sector in the U.S. More specifically, the sector accounts for approximately 30% of the U.S. Greenhouse Gas (GHG) emissions. Decarbonizing the electricity sector, while also making the aging power grid more modern, smart, and resilient is a prime challenge and opportunity.
This article discusses a growth company called eMotorWerks, which provides electric vehicle supply equipment (EVSEs) – a.k.a. charging stations — and aggregates these distributed loads into an IoT platform called JuiceNet
The technology not only allows for the chargers to be remotely controlled and charge EVs at the most cost effective times, but it also connects all of the EVSEs into a network of storage capacity that can respond to information from the grid and provide demand response services to utilities
For EV owners, using eMotorWerks’ solution can lower the cost of ownership as participation in demand response can provide them with additional revenue streams
This kind of demand response platform will be increasingly valuable in balancing the grid as more intermittent renewable energy enters the system
The platform also helps create a more resilient and distributed grid and system of resources
This technology has a variety of different stakeholders. Residential EV owners can buy eMotorWerks’ EVSEs for their own homes. Commercial owners of EV fleets and/or charging infrastructure can also buy these EVSEs, use the software, and participate in the platform. Another key stakeholder is the utility, which can take advantage of the demand response services provided by the JuiceNet charging network. Last, other OEMs are stakeholders because eMotorWerks’ technology can be used in white-label deals.
Integrate eMotorWerks’ solution with Enel (utility that just acquired them) to maximize the value of the demand management services
Continue forging relationships with OEMs to grow the size of the network
Build stronger relationships with potential commercial customers to ensure wide public availability of charging infrastructure
5. Comment on other post
I commented on “Clean Meat and the Future of Food”
The clean meat industry has already received quite a bit of attention from established investors. Memphis Meat has raised $22 M from investors including Bill Gates, Richard Branson, Cargill (agriculture firm), DFJ (VC firm), and other VC firms and angel investors. These investments have been attracted by the potential that this technology has to disrupt the trillion-dollar meat industry which will only grow as emerging markets develop and consume more meat.
Unreliable centralized grid management or utility system which keeps track of your consumption.
Lack of decentralisation of energy
Pricing for micro grid energy consumption based on usage
Blockchain allows consumers to produce energy, and to trade it directly with other consumers in a peer-to-peer network.
SolarCoin is a digital currency like bitcoin. The difference with bitcoin is that SolarCoin is not “mined“ by letting a computer work out some computations. It’s mined by producing renewable energy. If your domestic solar panel creates 1 MwH of energy, you receive 1 SolarCoin.
This solarcoin is kept in an online wallet that you can update manually or let it update and earn automatically by, for now, a Smappee energy monitor (soon other energy monitors will follow).
This same wallet can be used for three things:
to store the coins you create with your solar panel,
to receive payments for the energy you sell, and to,
pay for energy you trade with your neighbors.
In fact, you won’t even need to install energy production at your home. It will become perfectly possible to buy a solar panel, install it anywhere and collect SolarCoins.
Another benefit is that the entire transaction remains transparent due to a shared ledger amongst the neighbourhood.
Blockchain currency issuing agencies
Domestic users of renewable energy smart grid
Local public Utilities
Solar system installers and manufacturers
Siemens has set up a pilot project in Brooklyn where a mini and smart grid for 10 homes early last year, which is due to expand and include a school, hospital and park this year and potentially the entire neighbourhood by 2018.
Other companies and entrepreneurs should look at blockchain as a valuable way to share and track utilities.
Policy for enabling such technology to take flight so that it can reach scale quickly
1,613,853.5 SolarCoins have been granted so far, in 41 out of 215 countries
Smart Grid is the Next GEN power infrastructure that incorporates major technology components like smart meters, sensors, wireless communications, software etc. to improve efficiency and optimizes consumption. It also enables the integration of sustainable energy solutions like solar, wind etc. by sending energy back into the grid.
Smart Grids reduces the dependency and use of fossil fuels by enhancing the inefficiencies in energy consumption and leveraging seamless integration and use of sustainable energy solutions like solar and wind. For ex. By using Smart Meters and Sensors, extra energy obtained from solar panels can be sent back to the grid.
Home, Commercial and Industrial users
Electric Power Companies
Develop simple, cost effective and easy to install kits
Incentivize power companies to offer such green solutions
Government tax deductions similar to electric cars