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Peer to Peer (P2P) Energy Trading

We have the vision to totally believe P2P Energy Trading is the future of the Energy market, be it small residential or large scale Solar Farm energy production!

Peer to Peer energy generators

As the uptake of solar incorporated with battery storage greatly increase the Energy Security for the system owners!

More people are talking about Peer-to-Peer (P2P) energy trading. P2P Energy Trading is a new concept currently being tested in Australia, where the Australian company Power Ledger is one of the world leaders in this type of Energy distribution.

P2P Trading allows the sale of private or community owned energy generators & storage sites, to sell there energy directly to consumers, and the people that own/invest in the energy system, that produce more energy than they consume or need, will be able to sell there energy at a rate that can be privately agreed upon.

Obviously, P2P Aggregators can sell their excess energy for profit, where solar energy and other renewable energy will automatically include Battery Storage, and even large commercial 10MW~250MW Thermal energy storage units like 1414°, there is talk of a smaller 100kW 1414° unit being developed in the future.

As the Australian energy sector adjusts to the current National transformations underway, it is a logical development in the new rising economy, which will see smart cards being used to pay for energy in places like Housing/Accommodation like AirBnB, Motorhome/Caravan parks, Car charging stations, and all sorts of Residential & Commercial outlets, with Person to Person dealings, rather than a large commercial enterprise to consumer, as things are currently with the deceptive named energy Retailers.

Current status of P2P Energy Trading

Progress with peer-to-peer trading is slow. A couple of trials in the residential market have been unsuccessful, partially because there was no funding, but mostly due to the current market situation.

On the one hand, regulated network tariffs mean there are little benefits to local energy trading. On the other hand, there are low levels of installed controllable distributed energy resources, which makes it hard for solution providers to provide value to their customers, again Power Ledger is leading the way in Australia.

P2P Supporting Technology is BlockChain

BlockChain is a decentralised ledger technology.  When applied to the energy sector, it will enable people to trade energy among themselves. Where people can generate their own energy from Renewable Energy Sources (RES's) in dwellings, offices and factories, and share it with each other locally.

Tokenising renewable energy allows Solar, Wind and Hydro energy producers to seamlessly connect with investors, who are willing to pay upfront for the right to consume renewable energy.

As P2P energy trading can involve a large number of transactions between Traders and Consumers, it is technology that allows for low-cost authentication, validation and settlement while protecting privacy.  One of the most promising technologies to enable this is 'blockchain', a distributed ledger technology.  Blockchain is mostly known as the technology supporting distributed trading such as Bitcoin, and has strong support in the banking sector.

With blockchain, transactions are stored in virtual blocks, which are connected together in a chain. A complete history of all transactions that have ever occurred within a particular network is retained.  Blockchain technology can offer a cryptographically secure, distributed ledger that can track where electricity was generated, where it can travel to and who used it.

There is no question about where a kWh came from and how it was produced.  The technology is said to be transparent and secure, and does not require a central entity to store and manage shared data and business process.

Blockchain will also make it easier for new and smaller players to be involved, right down to the individual solar household.

There are online Collage courses to train people wanting to get involved it several facets of the Block-chain revolution, we totally believe Block-Chain has the potential to be/do what the internet did 20 years ago!

Blockchain-based P2P Trials

In 2017 Block-chain technology allow households and businesses to trade or share locally generated power with each other was trialled in Melbourne, in an ARENA-backed pilot program being led by AGL Energy.

In 2018, there are a number of trials using blockchain technology that have been or are currently being conducted, examples of which you can see below.

Most other forms of energy trading are heading down the Virtual Power Plant (VPP) pathway like AGL's VPP in South Australia or Origin's VPP in Victoria. However, like the blockchain trials, these solutions are not widespread and involve mostly the residential sector.

...Be aware of there small print, as they predominantly market back-to-grid inverters, as they really want your energy for the $10c kWh feed-in tarrif, then you will be paying there Full retail kWh rate for energy after sunset, instead of consuming your own stored energy!

Advantages of P2P Trading;

  • Energy does not have to be transmitted from distant power plants, reducing electricity transmission costs.
  • Energy generation can be based on renewable clean energy production & storage.
  • Energy can be bought from a known source, which allows you to claim energy from a specific project.
  • Energy costs can be lower for the buyer.
  • No middle man – generators & customers can make direct deals on their own terms.
  • The financial return to generators will be better than any current feed-in rate.
  • There is choice and transparency in dealing with other consumers.
  • Block-chain software is used for payments is very secure.
  • Everyone saves money.

Barriers to P2P trading

Several barriers exist to P2P trading at present, and it is not known at what time these will be overcome, so that consumers can begin to participate and benefit from renewable energy.

Some of the main barriers include;

  • Not yet commercialised.
  • Immature market for solutions.
  • Multiple stakeholders that need to be convinced of the business case. (e.g. retailers)
  • Regulatory barriers.

We still see one of the key Regulatory road blocks to a fairer nation wide energy supply, is the "Supply charge to the Property" charge, that is commonly upwards of $80 quarter ($20 month) for all Residential consumers, not to mention commercial supply.

BitCoin: (The Fake Money)

While Bitcoin's future is still highly speculative, there is a need to differentiate between Bitcoin and Blockchain, Bitchain is the technology that underpins Bitcoin. Blockchain is essentially a distributed database of records or public ledger of all transactions that have been executed and shared among participating parties, the banking institutes commonly use Bitchain as it is apparently a very secure technology.

Beyond all the Froth & Bubble of the emerging P2P technology, with the dramatic drop in cost for Solar modules & Battery storage, DAT solar trackers are the BEST method of harvesting solar energy.

The smallest DAT-4 unit fitted with 500W solar modules (panels) will harvest up to 22kWh/p day, and a DAT-8 unit will harvest up to 44kWh/p per day, and these can Cut the State Grid out of the picture totally!   Simply because DAT units harvest more energy than any other type of Solar Racking, and Battery storage simply eliminates consumers paying for energy between Sunset to Sunrise.

If our politicians & bureaucratic regulators waste more time talking about "Energy Security" than promoting the uptake of P2P energy trading, only those with the vision that invest in "independent Micro Power Grids" will leave the majority of the population behind in the coming years!

 
 
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