TenneT, Sonnen launch blockchain project in Germany
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European transmission system operator TenneT on Thursday announced the formal start of a pilot project, described as the first of its kind in Europe, that uses decentralised networked home energy storage systems and blockchain technology to stabilise the power grid.
TenneT is partnering on the initiative with German energy storage company Sonnen, which provides the pool of home energy storage systems. The blockchain technology was developed by IBM (NYSE:IBM) and the batteries are operated by Sonnen e-Services.
The pilot phase is expected to run until the middle of 2018.
Thanks to intelligent management, the fleet of batteries will be able to fast absorb or discharge excess power when and where needed, helping to mitigate transmission bottlenecks in the grid, TenneT explained. The project is part of efforts by the grid operator to improve flexibility.
"The project is the first of its kind using blockchain technology and leads the way to the future integration of renewable energy sources," Urban Keussen, chairman of the board of TenneT TSO GmbH said and added that the innovation helps limit the use of expensive curtailment of wind turbines which is needed to stabilise the grid.