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How blockchain facilities peer to peer energy trading?

How blockchain facilities peer to peer energy trading?

Several households and buildings are now equipped with solar panels and contributing to producing an abundant quantity of renewable energy. The technology led to the emergence of prosumers who are capable of producing and consuming at the same time. This emergence broadened new horizons for energy trading between participants and established a reliable mechanism of blockchain to facilitate trading that is secure, robust, and efficient. The concept behind blockchain technology is to provide an immutable and distributed chain-like data structure to securely store the data that can be verified when needed.   Conventionally, traders need to draft agreements and communicate...

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Peer to peer energy trading in Australia

With the rising trend of solar and battery storage technology gave emergence to the novel concept of Peer-to-peer (P2P) trading. It is a next-generation energy management technology of producing renewable energy through solar photovoltaic panels at an individual level and sharing it with others locally through buying and selling between two or more grid connecting parties. This system economically benefits the consumers who are willing to take advantage from the users who produce energy in surplus and transacting that energy. Often it is done in the form of solar energy through a secure platform to effectively manage their energy resources....

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Australian renewable energy target affecting solar industry

Australia is the sunniest continent on the planet which is one of the reasons it has emerged as a solar powerhouse, and by far the world's largest solar farms are being built across the country. Since 2015-2019 Australia has taken a great stride in switching towards solar energy generation, driven by a combination of factors such as government stimulus, elevated energy prices, and declining cost of solar technology installation. Around 22% of the country's total electricity was generated through renewable sources last year out of which 8% was generated by solar power and the figure is on the rising trend. ...

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State of Australia's renewable energy targets

For the sake of achieving a decarbonized economy, in line with the Paris agreement of climate neutrality goals, the Australian government contributed greatly to encourage energy production through renewable sources.  Australia's renewable energy target policy is devised by the Federal Government to ensure at least 33,000 gigawatt-hours of the total country's electricity to be obtained through renewable sources by 2020. Under the renewable energy policy investors are encouraged and incentivized for the development of renewable energy power stations. Renewable energy target extends mainly two schemes which are Large-scale renewable energy target (LRET) and Small scale renewable energy scheme (SRES). Investment...

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Compliance Update: Multi-Hole Cable Glands

Solar projects are like electric symphonies. An ensemble of installers, engineers, designers, and admins orchestrate complex tasks to create a self-sustaining clean energy powerhouse. Every single detail matters. As with a symphony, if one note is off, the entire project will fall apart. And, unfortunately, we’ve seen a trend of solar projects coming apart due to the wrong cable glands. Cable glands are tiny, yet they hold an enormous impact on solar projects. In the simplest terms, they secure the panel wiring to the inverter. This junction between inverter and cable holds critical importance. Without a solid connection, the inverter...

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