Use of BlockChain for Distributed Generation

Use of BlockChain for Distributed Generation

EDP has recently become the first company in the market to use blockchain technology to measure and record energy consumption and distributed generation resources from consumers in the Company’s concession area. The pioneering solution facilitates the energy management process generated by solar power plants and is used by customers, the so-called prosumers, who produce and consume.

The project, created in partnership with the Austrian startup Riddle & Code, is in the development phase involving different types of users. It is a cryptographic device that is attached to domestic energy meters to measure each user’s consumption, facilitating transactions and calculations for billing and taxation without the need to install a smart meter. Thus, it is possible to safely attribute if there was an excess of energy or if there is a discount on the invoice.