Siemens and New York-based startup LO3 Energy have announced that they are partnering up to collaborate in the field of innovative microgrids through the blockchain, according to a joint press release.
The microgrid, which is being planned for Brookyln and was initially started as a pilot project of LO3 Energy, is now being developed further with the aid of Siemens Digital Grid in the U.S. For the first time, a microgrid control solution from Siemens is being combined with the peer-to-peer trading platform from LO3 Energy called the TransActive Grid.
The combination of a microgrid control solution and blockchain technology will enable a provider of photovoltaic systems on building roofs in Brooklyn to feed excess electricity back into the local grid and receive payments from those who buy it.
Thomas Zimmermann, CEO of Siemens’ Digital Grid Business Unit, said that Siemens and LO3 Energy are envisioning incredible opportunities for blockchain technology particularly regarding microgrids and energy systems.
Its big benefit is, that it permits transparent, efficient trading between multiple participating systems and various stakeholders