IEEE PES Webinar Series: An Energy Internet Platform for Transactive Energy Applications (Video)

For over a century, the structure of the electric utility business has been a supplier-driven model with consumers receiving and paying for electricity without any participation in how the electricity is produced, transmitted, or delivered. However, advances in renewable energy technologies (e.g., PV panels), battery storage, smart devices, as well as financing models have given rise to prosumers - electricity consumers - who can produce energy from rooftop PV while also consuming from the grid. These prosumers are interested in monetizing the value of their investment/production whereas regular consumers desire cheaper electricity prices. A software platform, called the “Energy Internet” (EI) platform, has been developed which uses the blockchain technology to securely manage data, communications, and control of devices among different participants on a large scale. This structure allows the development and testing of a functioning energy internet platform for transactive energy applications.