BLOCKCHAIN FOR LOCAL ENERGY
GE Power and German energy agency Deutsche Energie-Agentur, dena, are collaborating on a study looking at how blockchain could make the energy industry more efficient. Blockchain refers to a new way of trading data through a distributed ledger that autonomously and transparently keeps a chronological record of transactions. The most recognizable application so far has been for cryptocurrencies like Bitcoin.
Trading Neighbors: In the renewable energy sector, where small power producers like neighbors with solar panels on their roof can be scattered over a wide area, blockchain’s ability to track a blizzard of transactions could generate dramatic benefits. So-called peer-to-peer energy trading could boost the use of renewable electricity, bring profit to producers and clip the power bill for users. “During the day, you now have some markets where, between wind and solar, you’re getting 40% or more of energy available,” says Steven Martin, chief digital officer for GE Power. The new blockchain study will consider technical and economic viability as well as regulatory barriers which would need to be removed for a successful implementation of the technology. Dena will publish the results next spring.
Read more about the blockchain study here.
A NEW SYSTEM TO MONITOR INDIA’S GRID
Crippling outages have plagued India for years, but the world’s fourth-fastest-growing economy is now taking a step toward making blackouts a thing of the past. The Power Grid Corporation of India, a state-owned grid operator that transmits half the country’s electricity, is installing the world’s largest wide-area monitoring system, WAMS, from GE Power across its network.
Zapping blackouts: The combined suite of hardware and software will act like a heart monitor to keep track of the grid’s health in real time. It will detect dangerous power fluctuations and enable operators to isolate problems in the grid before they spread. The artificial intelligence component of the software will detect dangerous glitches, analyze why the glitches occurred, and continuously learn from its experiences in order to improve over time. The project is rolling out in northern India — the most complex section of the grid — where the 2012 outage originated before spreading across 2,000 miles.
Read a Q&A about the project here.
LESS THAN 1 BILLION LACK ACCESS TO ELECTRICITY
For the first time in history, the total number of people who lack access to electricity has fallen below 1 billion, according to the World Energy Outlook 2018. In 2017 alone, over 120 million people worldwide gained electricity access.
Success stories: Massive progress has been made in Asia over the past year. In 2018, India completed the electrification of all of its villages. Almost 95% of households in Indonesia now have access to electricity, up from 50% in 2000. About 80% of the population in Bangladesh have access to power, up from just 20% in 2000. In Africa, 73% of households in Kenya have access to electricity, up from 8% in 2000. Electricity now reaches 45% of the population in Ethiopia, compared to just 5% in 2000.
Read more about the increased electrification rates worldwide here.
— VIDEO OF THE WEEK —
— QUOTE OF THE DAY —
“Due to the complex nature of India’s power system, changes can happen at lightning speed. If any instability happens – it can happen in milliseconds. So five seconds is a very big deal.”
— Deepak Pandey, software services leader for GE Power’s Grid Solutions business in India
Quote: GE Reports. Image: Getty Images.
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