Virtual power plant company Solo Energy has announced a partnership with blockchain firm SolarCoin.
SolarCoin is a blockchain digital asset that works like air-miles for solar power generation. For every megawatt for solar power generated by either companies or prosumers, they are eligible for one SolarCoin, which can then be traded with those organisations that accept them.
Solo will provide solar PV owners that become part of its virtual power plant network with the chance to adopt SolarCoin.
“We’re excited about the added benefits that SolarCoin can bring to our future members”, said Mark Hamilton, Solo Energy chief executive. “We’re already bringing the benefits of participating in demand side response to homes and businesses, but by supporting our users to access SolarCoin, we’re also helping to secure the future of solar generation.”
Solo Energy is currently raising funds to enable the widespread installation and operation of free domestic energy storage batteries and electric vehicle-to-grid chargers in people’s homes, in partnership with energy suppliers.
Its FlexiGrid cloud platform controls and aggregates energy storage capacity to create a virtual power plant that intelligently supplies stored renewable electricity to the grid at times of low renewable generation or when demand is high.
The energy storage systems will be distributed across thousands of homes and commercial premises – and energy will soon be traded peer-to-peer between members of the VPP using blockchain.
Meet Solo Energy at European Utility Week in Vienna next month. They will be at Stand: B.G41