Kontrol integrates blockchain into energy management
November 8, 2017
Canadian company Kontrol Technologies is integrating its real-time energy management system, the Kontrol EMS, with blockchain technology.
"The traditional utility model of centralised power plants is changing as consumers demand greater access to sustainable energy including solar energy, combined heat and power, and battery storage," said Paul Ghezzi, CEO of parent company Kontrol Energy. "This is especially true for those North American markets where the retail cost of electricity exceeds 16 cents per kilowatt hour."
The Kontrol EMS will include full IoT functionality, smart learning algorithms and the ability to manage localised distributed energy. Through blockchain technology, Kontrol plans to provide local energy producers and consumers with a peer-to-peer energy market.
"Blockchain technology offers a unique opportunity to facilitate the growing demand for distributed energy across North America," said Ghezzi. "The ability to buy and sell locally produced sustainable energy has great potential for both stabilising existing electricity grids and reducing the cost of energy over time. Blockchain technology also has the potential to eliminate wasted energy and reduce infrastructure costs for governments and utilities."
The Kontrol EMS will be available in the second quarter of 2018 with blockchain technology. For 2018 the company anticipates it will build out up to 2MW of distributed energy in Ontario, Canada. In addition to the Ontario market, the company is also exploring potential opportunities and acquisitions in the distributed energy sector in New York and California.