UK: The first blockchain energy trade has taken place

17/04/2018 16:41 Renewable

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The first blockchain energy trade in the UK has occurred at Hackney’s Banister House Estate, as stated by Verv, the energy trading platform via which the deal was possible.

Verv used a significant grant from Innovate UK to install a chain of PVs, batteries and smart hubs on 13 apartment buildings.


A testing period of the new technology is being performed, aiming to assist residents in benefitting from local renewable energy sources and to reduce their energy bills.  


The smart hubs estimate the energy demand profile of households, identify the solar energy supply in each storage battery and then allot renewable energy to residents according to their needs.


During the first trade 1 kWh has been transmitted from a row of solar panels with abundance of electricity on one of the building’s roofs, to a resident living in another block of flats of the same estate.


A member of the Banister House Community mentioned that up till recently no advantages were seen from electricity generated by solar panels on the roofs as UK electricity market did not have the appropriate structure.

 

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