Reduced Energy Costs
Power2Peer will supply energy to microgrid participants at reduced costs compared to grid power. SunDensity PSC panels used in the adaptive microgrid are 10% more efficient than other solar panels. The typical solar panel produced by US, Canadian, and Chinese manufacturers averages 15% to 18% efficiency.
Make the Grid More Resilient
By utilizing local sources of energy, microgrids help residences, businesses, organizations, communities, and businesses recover power more quickly during major weather events, unforeseen circumstances, and other major interruptions in the centralized power supply. Utilities benefit in these situations, as microgrids reduce the volume of outages to be addressed. This leaves utility resources to better address customers that do not have back-up power.
Improved Local Energy Delivery
For traditional utility companies, it is expensive to transmit electricity to remote locations, especially in regions where there is little electrification. The demand for power in rural areas is comparatively less than in urban areas and may not justify investment. Nanogrid and microgrid networks provide these communities with alternate means to generate power, without depending on the infrastructure of utility corporations.
Generate Revenue and Income
Using the adaptive microgrid, communities can sell the surplus energy to neighboring residences, businesses, or organizations to generate revenue. Individual participants can earn income by trading their surplus to other members of the microgrid. The only investment required is installation, on-going maintenance, and operations costs. With renewables such as solar, your energy supply is free!
Stimulate the Local Economy
Local communities participating in microgrids become actively involved in power generation and are “energized” by their participation. Microgrids give a community self-sustainable energy, which in turn brings economic activity to the local area, such as creating employment for locals providing services to the microgrid. Also, investment in the community further stimulates innovation in renewable energy technologies.
According to the US Department of Energy (DOE), the US suffers more power outages than any other nation in the developed world. Adaptive microgrids can help communities prepare for outages by providing a source of backup power when the grid goes down. A microgrid can operate independently of the centralized power grid. Built with smart contracts, smart energy devices (smart switches, sensors and IoT), and using locally generated power, efficiency provides a foundation for reliability.
Help Balance the Grid
Power systems designed using Power2Peer’s adaptive solar microgrid systems would help utility grid operators balance the grid during system capacity constraints or voltage fluctuations. By communities making better use of power generated locally, and managing this power more efficiently through blockchain and smart energy technology, utility companies will ultimately see less strain on their systems, leading to fewer catastrophic malfunctions.
Decreased Carbon Emissions
The microgrid utilizes solar production that may not be used by a home or residence by providing that energy to the microgrid community. Until the return on investment for energy storage is more favorable, there will be times when solar resources are not being utilized. With the microgrid, consumers who are home during the hours when solar panels are producing will be able to purchase solar from their neighbors who are at work and not consuming. With more utilization of unused solar resources, the grid will be less dependent on carbon-intensive centralized generation. The production of 130 GW by PV will reduce approximately 591,792 metric tons of carbon emission which will have significant impact. The use of PSC panels which provide more power per panel will further decrease dependence on carbon emission producing generation.
Increased Energy Independence
Communities, businesses, and remote islands and nations will ultimately become more energy secure by reducing the need to import energy from abroad. Whether due to political instability or severe climate conditions, people will no longer depend on utility companies and their centralized infrastructure to keep the lights on.