ABB Launches Blockchain Pilot for Solar Energy Sector
International electrical engineering company ABB has rolled out a pilot to explore how the technology could promote the role of solar in peer-to-peer () energy trading, technology-focused media outlet PV Tech on May 16.
To implement the project, ABB collaborated with energy aggregator Evolvere to deploy a blockchain it jointly developed with blockchain-based platform Prosume. The pilot will purportedly enable transparent and secure p2p energy , as well research blockchain’s role in the market.
ABB told PV Tech that the project’s objective is to make blockchain-ready inverters so energy market participants can reduce both capital and operational expenditure costs. Giampiero Frisio, head of ABB’s smart power business, said, “the Evolvere project has allowed us to develop viable and proven solutions for the market in anticipation of new dynamics and regulatory frameworks coming in to place for blockchain technology.”
ABB Group is involved in several “smart” and renewable energy projects, including and . ABB has operations in Europe, North and South America, Asia, Africa and Australia. In 2018, the firm had an of over $28.5 billion.
Blockchain has been gaining traction in the energy sector around the world. Earlier this month, blockchain startup Data Gumbo Corp. $6 million from major energy companies, including the venture wing of national petroleum and natural gas company Saudi Aramco. The investors purportedly expect Data Gumbo’s platform to improve oil and gas supply chains by eliminating disputes and enabling automated payments.
In April, largest energy provider, Wien Energie, a blockchain-driven fridge in partnership with tech giant Bosch. The main goal behind the project is to increase consumer interest in the sustainable consumption of energy. A blockchain solution in this case allows one to choose the source of the energy, be that a solar panel or a wind power plant.