The Transactive Grid – Enabling an End-To-End Market Services Framework Using Blockchain
Smart Grid Demonstration
University of Waterloo
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Alectra Utilities Corporation
This project will demonstrate the ability of blockchain software technology to provide real-time transparency, tracking, and management of Distributed Energy Resources (DER) participation in providing energy services.
Alectra will leverage its existing 20 Power.House customers to participate in an energy marketplace powered by the Linux Foundation’s Hyperledger Fabric. Through a blockchain software platform, Alectra will issue requests for the Power.House systems to provide hypothetical market services. All aspects of market participation will be transacted through and recorded using this blockchain platform. Customers will receive compensation through a virtual currency that will be created to support participation. The currency may be exchanged for goods and services at participating merchants or for other forms of value in a marketplace.
This project will demonstrate an end-to-end market for contracting, settlement, measurement, and verification of energy transactions.
DERs can help to reduce GHG emissions, increase resiliency, improve power quality, and provide bill savings to consumers.
By demonstrating the ability to manage and settle grid services transactions between a distribution utility and residential DERs, this project will lead to consumers who have DERs being appropriately compensated for the value they can provide to the grid and to society, ultimately leading to increased DERs.
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