Energy Trading using bi-directional meters
In today's climate-conscious world, your home solar panels become mini power plants, not just powering your lights but feeding excess energy back to the grid and earning you credits. Selling energy using a bi-directional meter involves a system that can both import electricity from the grid and export excess electricity you generate back to the grid. This vision is now reality thanks to the dynamic duo of bi-directional meters and blockchain technology.
The Bi-Directional Meter: Measuring Both Sides of the Energy Equation
Gone are the days of one-way energy flow. Bi-directional meters, unlike their traditional counterparts, measure both electricity imported from the grid and exported back – a crucial feature for renewable energy producers. This empowers homeowners and businesses with solar panels, wind turbines, or other systems to become prosumers (Homeowners who both consumes and produces electricity.), actively participating in the energy market.
A Transparent Ledger for Energy Transactions
A distributed ledger technology ensuring secure, transparent, and tamper-proof data recording (Green Grid Network). This transparency fosters trust and facilitates peer-to-peer energy transactions, bypassing traditional intermediaries. Each bi-directional meter (plus storage) is associated to a Virtual Power Plants (VPP) supplying a Local Energy Markets (LEM).
How the Bi-Directional Meter connects to the Green Grid Network?
A bi-directional meter with our hardware/software installed is on-boarded into the Green Grid Network creating a decentralized Identifier (DID) unique for that meter.
DID are globally unique identifiers that are used to identify an entity without a centralized authority. This allows the bi-directional meter owner to control over their own identity and data, enabling secure and private digital interactions.
Each bi-directional meter have a node connected to the Green Grid Network where the the bi-directional meter owner is able to login and view the operational dashboard for the bi-directional meter attached to the VPP for that region.
Disclaimer: Always consult with relevant professionals to ensure compliance with local regulations and make informed decisions based on your specific circumstances. Some bi-directional meters lack compliance with crucial communication protocols, data security measures, or grid compatibility specifications. The Green Grid network cannot accommodate devices that do not adhere to established compliance regulations.
For any clarification or further information, please feel free to contact us.
