Blockchain Energy Pilot Launched By Inverter Manufacturer ABBbr>
Inverter manufacturer ABB, in partnership with Italian utility Evolvere and blockchain platform Prosume, has launched a pilot to examine how blockchain could boost the role of solar energy in peer-to-peer (P2P) energy trading.
Headquartered in Zurich, Switzerland, ABB manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. It operates in more than 100 countries with about 147,000 employees.
During the blockchain pilot, ABB will be working with Evolvere to deploy a blockchain it jointly developed with Prosume. The platform reportedly allows for transparent and secure peer-to-peer energy transactions. The pilot will explore how blockchain technologies and applications could transform the market for smart grids.
“Using the capability of ABB to deliver digital solutions through ABB Ability and ABB’s inverter portfolio, including UNO-DM-PLUS solar inverters and REACT 2 inverters with storage, the pilot has opened-up a new wave of possibilities for energy markets to explore new and transformative models toward smart grid environments,” ABB said.
According to ABB, blockchain-ready inverters will allow utilities, aggregators and energy companies to cut both Capex and Opex project costs, accelerating business cases for subsidy-free renewables.
“We are keen to work with like-minded organizations, such as Evolvere, to test the potential of blockchain technology in solar systems, which will give us a powerful platform for future energy sharing solutions,” said Giampiero Frisio, Head of ABB’s Smart Power Business line. “The way people consume and harness their energy is changing. Prosumers, who use their own photovoltaic systems, are looking at how they can not only produce and use the energy they create, but also review how they can then share any excess energy between neighbors, communities and the wider grid.”
After the pilot, ABB plans to conduct further research to explore how it can ensure that all of its inverters in the same class are compatible with blockchain technology.
“We are committed to spreading the advantages of distributed energy generation through smart-grid technology to enable homeowners to realize just how close we are to sharing energy with other consumers,” said Franco Giampetruzzi, CEO of Evolvere. “ABB is a high quality and reliable partner that supports our innovations in the blockchain space.”