LO3 Energy – Brooklyn Microgrid BMG ICO Exergy Energy Trading?
Brooklyn Microgrid is the initiative of a neighborhood coming together to be able to create energy for emergency services or for someone in need. BMG is a living example of how technologies can reform the energy model within a community. The initiative operates by enhancing the traditional energy grid to allow users to tap into community resources to generate, store, buy, and sell energy at the local level.
The BMG model makes clean renewable energy more accessible to and keeps the community resilient to outages in emergencies, among many other economic and environmental benefits. The idea behind BMG is to create more energy than the community can consume and even sell it to the neighbors. This eventually leads to the possibility of an energy-secure future.
BMG is committed to applying industry expertise to the new frontier in energy. The following are tech concepts that BMG model utilizes.
The model utilizes a transactive grid element, a hybrid device that measures energy production and use of a building. It also communicates with the network to manage energy.
Blockchain is a decentralized digital ledger with private computers to verify transactions automatically. Each new transaction is verified and added to the ledger automatically.
BMG application program interface makes it easy to collaborate. It creates an open path that encourages participation and innovation from users across the network.
BMG technology works on the legacy energy grid that is already in place. This makes it easy to establish a community of buildings that create, store, and trade energy at local level.
The New Exergy Crisis
Stemming from the inadequacy of the legacy energy grid, infrastructure is crumbling. Even with the rising production of clean energy, consumer needs are far more beyond the level of energy production. Against this backdrop, Exergy was born as a revolutionary approach to localized energy marketplace.
An Excerpt from the Model’s Whitepaper Puts it Aptly:
“From Brooklyn to Bangladesh, the new energy consumer wants comfort, security, a more engaged relationship, and a promising future for energy production. A democratized energy marketplace is the only way to achieve this promise, and the Exergy project team, part of LO3 Energy, has developed a key piece of this paradigm shift. With Exergy, we are reimagining the customer’s role in, and access to, increasingly open and competitive electricity markets.”
LO3 Energy Final Thoughts
Exergy combines new technologies and innovative methods to get the most out of energy and data. This, in the end, enables it to create a smarter and more efficient solution. Exergy is more than a token, more than just a platform. It seeks to utilize a blockchain-based token system to reduce barriers and to facilitate the optimal coupling of local electricity generation. This will happen by including parties that can evaluate, generate, store, and utilize this generation most efficiently. It is completely a customer-centric model in which customers own and operate the Distributed Energy Resources (DER) assets.
The blockchain technology continues to unveil opportunities across various sectors. The token-driven energy grid is one opportunity that will transform the energy sector.