Equigy: Europe Blockchain-Based Flexibility Platform for Grid Operations
Europe is one of the regions that actively integrate blockchains in their systems. The use of Blockchain is known in this region for cryptocurrency trades.
Utilizing this technology in this comprehensive trade operations, proves blockchain’s efficiency.
Currently the use of blockchain is seen as an aid for managing data from the pandemic. Most of highly urbanized country are considering this matter. Integrating blockchain in operations and managements doesn’t stop here. For its versatility is now proved even more. Innovations in grid operations in Europe now involves blockchain.
Launching of Equigy for Europe’s grid operations
Integration of blockchain technology is now visibly seen in Europe’s grid operations. Through a collaboration between three European Transmission System (TSO) a blockchain-based flexibility platform was launched. This platform is introduced to the public under the name “Equigy”.
The TSOs behind this platform is known to be Terna, Swissgrid and TenneT. Equigy is planned to be launched on Germany, Switzerland, Italy, and Netherlands. Denmark’s TSO, Energinet is also expressing interest in this platform.
The non-exclusive feature of this platform is what makes it special. Mainly it means that it can work with any other balancing systems. As to TSOs this will provide a feasible collective approach. This will also offer standardization, and opportunity for scalling-up.
One impressive feature of Equigy is it will allow consumers to earn money. This will be possible if consumers will be flexing their interaction with electric grid through an aggregator. This process will aid in allowing a greater integration of intermittent or irregular renewables into the grid. This will possible by the increase in TSOs capability to balance the generation.
Equigy’s utilization in grid operations
Equigy as a blockchain-based will create a distributed, secure and transparent record or ledger of all transactions. This will allow capabilities of small household systems with a couple of kilowatts to be aggregated. In order to carry the services traditionally supplied with fossil fuel.
Programme Director and initiator Rene Kerkmeester, revealed that many countries are still rely on fossil fuels to balance the grid when renewable resources are not available. This is alarming for its not good for the environment and it’s very costly.
This is why Equigy will enter the grid operations. Kerkmeester states that this platform is sustainable. This is also a cost-effective solution to the challenge of balancing the grids when renewable resources are not available.
Utilization of this software technology as of now is free of charge. TSOs behind this explains that they have no interest commercially for the project. They just hope to bring up more renewables into the system of operations.
Equigy is modern platform that encourages sustainability. People behind is hoping that others would consider using this technology.
Utilizing it as to them will bring a lot of difference. Difference in both grid operations and the environment.