EU project NEMoGrid uses Ethereum for a smart grid system

This post may have affiliate links. That means if you make a purchase I may get a commission (at no extra cost for you). To find out more about read Disclosure page

NEMoGrid is a joint EU science project that is piloting a new peer-to-peer electric grid system that wants to encourage the start of a new business model between producers of renewable energy with energy consumers using the blockchain.

The goal of the project is:

  • To design and evaluate new business models favouring the grid-integration of decentralized energy resources
  • To encourage the active participation of citizens and the assumption of their new role of prosumers
  • To test the models in simulation and validate them in three pilot projects across Europe

“Blockchain is the right decentralised technology to control such a self-balancing system in real time”

“The goal of energy supply must be to generate as much clean energy as possible right where it is being consumed. If households can sell their own power to their neighbours, this influences local electricity prices and the power grid. Ideally, people would trade in energy and at the same time stabilise the local grids, thus avoiding expensive grid interventions whenever possible. Blockchain is the right decentralised technology to control such a self-balancing system in real time”, says Jean-Baptiste Cornefert, Managing Director of sonnen eServices.

The NEMoGrid project has five key research areas:

1. Defining future scenarios
2. The design of market and tariff models
3. The modelling framework
4. The social acceptance of different market models
5. The scalability replicability in the three test sites

Image result for smart energy

Three live demo sites in Switzerland, Sweden and Germany

There are right now three live demo sites up and running to evaluate the scalability and replicability potential in real conditions. They are for example testing how energy tariffs at different parts of the day change with the varied needs and demand. And how this is affecting the stability of the local grid system.

“The advantage of using blockchain technology is that for both households and the distributers to be able to better each kilo-watt hour that is consumed. At the same time the transactions are fully transparent and there are no added costs” says Joachim Lindborg, project manager at Sustainable Innovation that co-runs this project together with VäxEl and KlokEl in Sweden.
Find the full list of partners at NEMoGrid

Popular guides:

  1. The top 9 crypto exchanges in 2019
    A guide to cryptocurrency markets
    HODL, DYOR, REKT the 41 cryptocurrency terms you need to know!
    Crypto tax tools

Written by:

Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that wants to see better and smarter products and services that makes our lives better and easier

Subscribe to our list

Don't worry, we don't spam

We will be happy to hear your thoughts

      Leave a reply

      Enable registration in settings - general