{"id":40746,"date":"2018-04-25T13:52:00","date_gmt":"2018-04-25T12:52:00","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=40746"},"modified":"2022-10-19T15:46:49","modified_gmt":"2022-10-19T14:46:49","slug":"social-housing-estate-achieve-uks-first-blockchain-energy-trade","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/social-housing-estate-achieve-uks-first-blockchain-energy-trade\/40746\/","title":{"rendered":"London social housing estate achieves UK\u2019s first blockchain energy trade"},"content":{"rendered":"

Verv has completed the UK\u2019s first energy trade using blockchain technology as part of regulator Ofgem\u2019s Sandbox initiative to test innovative services and business models not possible under current regulation<\/h2>\n

The energy trade took place at Hackney\u2019s Banister House Estate, where a trial has been underway with Repowering London<\/a> since November 2017 aiming to allow residents to use local renewable energy sources to lower their energy bills on the path to creating \u201ca fully empowered, almost self-sustaining community\u201d.<\/p>\n

It saw 1kWh of energy being sent from an array of solar panels with excess energy atop one of the 13 blocks on the estate \u2013 all with installed solar\u00a0\u2013 to a resident residing in another block.<\/p>\n

This was enabled via Verv\u2019s renewable energy trading platform which uses the company\u2019s artificial intelligence<\/a>-based smart hubs in participating residents\u2019 flats, and Powervault batteries in communal areas, to calculate the energy demand profile of homes<\/a>, determine the solar energy supply in each storage battery and sequentially allocate green power to residents based on their needs.<\/p>\n

A Banister House community member said: \u201cUntil now, we have been unable to take advantage of the solar panels on the roofs to power our homes due to the structure of the UK electricity market.<\/p>\n

\u201cWith the installation of our Verv smart hubs, we are being empowered to generate, store and trade our own community energy and I\u2019m really excited to see how this trial evolves. It\u2019s safe to say energy costs are very high and it\u2019s important, more now than ever, that solutions be sought.\u201d<\/p>\n

Peter Davies, chief executive and founder of Verv<\/a>, added: \u201cWe\u2019re so pleased to be bringing the Verv renewable energy trading platform to life on Hackney\u2019s Banister House Estate, we want to use this technology to empower the residents to innovate and create their own trading community.<\/p>\n

\u201cWe plan to use the results of this trial to roll out more energy trading communities across the UK and in turn globally.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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