Power grid operators launch blockchain for home and car batteries

(EurActiv, 1 May 2020) European electricity grid operators TenneT, Swissgrid and Terna have launched a cross-border blockchain platform, saying it will help stabilise the grid while allowing households to earn “a few hundred euros per year” from their home and car batteries.

The Equigy Platform, launched on 23 April, is a software that uses blockchain technology to “register and validate” tens of thousands of individual “energy transactions” between batteries and the grid.

This will allow households to be paid for those transactions depending on the time of day, and the price of electricity that applies.

For instance, discharging a car or a home battery would be worth money when too little electricity is being produced to meet demand, while charging would be cheap during times of excess power production.

“This will enable millions of European households and owners of electric vehicles to actively offer the flexible capacity of their cars and house batteries on the energy markets to stabilise the electricity system,” TenneT says in a statement.

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EurActiv, 1 May 2020: Power grid operators launch blockchain for home and car batteries