Brooklyn Microgrid Seeks to Disrupt NYC’s Power Monopoly
Brooklyn Microgrid has been cutting through the red tape of New York City’s electricity system to deliver power generated by solar for residents who live in the neighborhoods of Park Slope and Gowanus.
Ethereum Used for ‘First’ Paid Energy Trade Using Blockchain Tech
The joint effort called TransActive Grid, struck between between LO3 and decentralized applications startup ConsenSys, allowed Brooklyn resident Eric Frumin to sell excess renewable energy generated from his own solar panels directly to Bob Sauchelli, a former program manager at EnergyStar, a government-backed green energy initiative.
Every unit of energy created by Frumin is being counted and logged on the Ethereum blockchain. Programmable smart contracts are then used to make those units of energy available for sale on the open market. Today, 195 credits were purchased for $0.07 each.
“We’ve got five people in Brooklyn that are producing renewable electrons today and putting them on the grid, on a piece of copper that is connected to a house,"