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Blockchain Tech & P2P to Transform the Energy Market in Italy

Feb 12, 2019 at 17:26 // News

Italy, the world’s number 4 as far as the use of blockchain technology is concerned, still needs more blockchain implementation. The epoch of energy, innovation and digitalization is contributing a fundamental transformation.

The industry has experienced a weighty change due to blockchain technology which has new tools and resources to challenge the issue of sustainability. Blockchain possesses the settings to develop a peer-to-peer (P2P) energy network, Blockchain4innovation reports. 

The Role of DLT 

The outlook adds to the good chain of sustainability a supplementary link which can be defined as that of P2P energy, or the potential of applying energetic controlling between ‘peers,’ as a way of exchange or sale of the energy surplus to other topics with the same features. 

For instance, the exchange or sale of energy surplus among neighbors. An outlook that can be apprehended in the time when the subject of energy micro-production and transmission of energy surplus to that of the community is united. 

The starting point is embodied by the community of MySolar Family which is now completely digital. The platform provides energy services to prosumer target, composed of small producers and energy users that are suggested to embrace an actual energy wallet which is based on distributed ledger technology (DLT) platform. 

The wallet is combined with devices which measure the capacity of production and acquaints energy value assets with the assets of economic value. The exchange of energy is in all references an economic content, and the main goal is to enable a sale at any moment and to any user in the community. 

The entire contrivance of smart metering is created with this target in the perspective of being able to handle contracts among ‘peers.’ That is to say, the producer has to bring his own energy into the market and also instruct and manage contracts with users. But, the part of the community and DLT goes beyond that. 

Aggregator of Resources 

The production capacity of these micro-producers, when they collaborate effectively, can bring a significant surplus to the national electricity grid in a Smart Energy system. Although the legislation in
Italy today doesn’t permit the exchange or the sale of domestic energy surplus into the grid, albeit, the conditions are starting to guarantee that the latent of this market and the social welfares of this energy market organization can contribute something to this turn. 

Still, with DLT there are the technological conditions to handle a decentralized production & distribution organization. 

“Not being able to benefit from the exchange of energy between individuals – continues Giampetruzzi – Evolvere, at this stage, aims to use the blockchain to manage the monitoring and to ensure that the consumption data of the meters are certified by a blockchain-based solution. We are also working on the possibility of organizing the community as an aggregator of resources that acts in a coordinated way with the major energy providers, bringing a primary contribution to the balancing of the network, but also a coordinated management of the consumption chain, and a critical analysis precise and certified.”

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