A New TransActive Grid is to be built in South Australia that will be based on the block-chain enabled microgrid recently unveiled in Brooklyn, US.
The SA project, which is being rolled out in partnership with local outfit Yates Electrical Services, will see up to 6 MW of distributed solar generation made available on a local energy marketplace, using LO3’s peer-to-peer trading platform.
The South Australian microgrid will begin with a “discrete” market using Yates Electrical Services’ Small Generation Aggregators License and their associated commercial or industrial customers, who will bid on solar electricity supplied by the firm, according to Renew Economy website.
The concept, made possible by blockchain-based software, involves adding a meter onto a household or business which manages all energy inputs and outputs, giving participants access to cheaper electricity generated by local solar farms.
The solar power will come from six locally built solar PV plants ranging from 200kW to 1MW in size (two have already been constructed) that are being sited on “redundant” farmland in South Australia’s Riverland region – a resource which, like sunshine, is abundant in the area.
The PV plants will be built by Yates Electrical’s renewables offshoot, Redmud Green Energy, with financial backing from Chinese investors. According to the company’s founder and CEO, Mark Yates, each solar plant will, eventually, be coupled with battery storage.