Technology

ALI Technologies, Kyocera & REXEV Merge to Make a Blockchain-based Model

On September 9, Kyocera Corporation, in partnership with A.L.I. Technologies, Inc. and REXEV Inc. revealed that they have been chosen by METI, Japan (Ministry of Economy, Trade, and Industry) for a microgrid construction project. The project focuses on building a renewable energy sharing model with the help of blockchain.

Creation of Renewable Energy Sharing Model

Apart from these three companies, there are plans of forming a consortium consisting of SEPC (Shonan Electric Power Company), Odawara City, and other organizations, who will be working together on the project.

The project aims to build a sustainable community and work on the project will start in Odawara City this month and continue till February 2022. The goal of Odawara City is to promote the use of renewable energy in collaboration with private and public sectors.

Aim of the Project

The project aims to provide surplus electricity that is generated using solar power systems present in Odawara City homes to EVs and large storage batteries present in the area.

The focus is on the unification of several aspects such as management of demand, power generation, and surplus power through REM (Region Energy Management), which helps in the use of local energy production for localized consumption. Also, the project aims to build a standard model that can be used for sharing renewable energy in the region through the use of blockchain.

Additionally, during any emergency, the project will be able to quickly disconnect from the main energy grid and start operating a microgrid that will be using solar power, storage batteries as well as EVs. These steps will help in strengthening the region’s resilience to power failures.

Use of Distributed Systems

In the last decade, we have seen considerable growth in the renewable energy sector and energy sharing models are shifting from being centralized to be more distributed. Blockchain is a distributed public ledger technology that is experiencing broader adoption in the designing of newer energy sharing models.

This project is undoubtedly a positive step towards greater adoption of distributed systems and blockchain in the renewable energy sector.

Mae Guerra

Mae Guerra joined CapitalBay.News as a journalist and editor covering news and updates on emerging technologies, tech events, and more. She is a sports enthusiast and also loves writing poems.

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