Balancing the grid is a matter of making sure supply and demand are aligned. Where you as a grid operator or energy company previously only had to make changes in a single power plant to balance your grid, now the number of sources has changed dramatically. Solar panels and other renewable sources of power are not only high in number, but they are also harder to control as you depend on the forces of nature.
Balancing so many elements in your network, you face several challenges:
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Controlling those elements at scale and remotely
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Managing such a large number of signals and the associated overhead
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Reliability and availability of all those different sources, not under your control.
“It is only logical that a decentralised grid, will also be managed by a decentralised tool.”
These challenges happen to be where a number of the most recent digital innovation shine:
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Fully digital assets can be monitored and controlled at scale and remotely.
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A blockchain solution can help reduce the overhead costs of managing so many signals; it excels in the field of microtransactions.
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For the availability, using a market mechanism on a blockchain-inspired platform, assets can get rewarded for being available. They can also get a penalty when they are not available after the assets have indicated it would be available for grid services.
It is only logical that a decentralised grid, will also be managed by a decentralised tool.
Want to explore and evaluate what these digital innovations can do for your energy company?
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