Can The Brooklyn Microgrid Project Revolutionize The Energy Market?

Clean Technica | By: The Beam | February 02, 2018:

A New York-based energy project built on blockchain is currently attempting to create peer-to-peer marketplaces for distributed energy. As the global energy market is still trapped in a previous era and needs an urgent and thorough redesign, the Brooklyn Microgrid could be a game changer.

Prosumers’ Efforts Not Valued By The Current Market:

For years now, citizens around the world have been leading the way by producing renewable energy on their own roofs or organizing renewable energy projects within their local communities.

According to CE Delft’s report The Potential of Energy Cities in the European Union, by 2050 almost half of all EU households could be involved in producing renewable energy, about 37% of which could come through involvement in an energy community. If demand response and energy storage are included, about 83% of households could become active.

The notion of an ‘energy customer’ is no longer all encompassing, now the role of a prosumer is increasing within the global market.

Whether it’s producing or storing energy or being able to use energy in a smart way, prosumers’ work adds an incredible amount of value to our energy system. The problem is that the outdated design of the current energy market doesn’t recognize that value. In simple words, the market still hasn’t caught up with reality.

After years of monopolies dominating the energy market, the 21st century system is in dire need of restructuring to become one that values citizens’ efforts.

A peer-to-peer community energy project in Brooklyn is experimenting with a new local market design, and it could pave the way for a global evolution.

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