A project to test peer-to-peer power sharing through storage, energy monitoring and renewable generation at a housing estate is to be trialled in the UK for the first time early next year by energy trading firm Green Running, it was announced on November 29.
Field-trials of a blockchain-based peer-to-peer energy trading solution will last 12 months at Banister House estate, Hackney, using Green Running’s P2P energy trading technology Verv 2.0, and individual and communal battery storage from Powervault.
The Verv technology, which uses artificial intelligence software, is being installed into 40 flats, and will allow residents to share energy between themselves — marking the first time power is physically traded in the UK through a blockchain-based P2P.
The batteries will store electricity from Banister House Solar, which installed solar panels on 17 flats in 2015, along with energy advocacy group Hackney Energy, and community energy company Repowering London.
The project aims to balance the limitations associated with solar energy such as limited periods of sunshine in winter or the underutilised excess energy produced during the summer.
The project received more than £100,000 ($135,000) from the government to help support Ofgem’s research into blockchain technology. The project will also be supported by UCL Energy Institute’s LoLo CDT in Energy Demand. This follows a £215,00 grant from BEIS’ Energy Entrepreneur’s fund to build a proof of concept earlier this year.