This article was first published on IOTA Foundation Blog
Enabling Energy Trading Platforms
A few months ago the European Innovation Radar identified the IOTA Foundation (IF) and the energy trading platform developed under the +CityxChange project respectively as key Innovator and high potential innovation.
Recently, the impact of this same innovation has been recognized by the TM Forum, which also awarded the IOTA Foundation (IF), and a number of other partners, for the business impact of their solutions. The award was part of the TM Forum Catalyst innovation competition set up as part of the Digital Transformation World conference, the Forum flagship event, this year fully hosted online and recently ended on November 12th.
But what is the core innovation that brought IF this accomplishment? We describe this in the following article.
Let’s start from the beginning…
Since 2018, as part of the European project +CityXchange, IF has been collaborating with a number of smart energy partners operating in Trondheim, Norway, and Limerick, Ireland.
After an initial setup phase, which involved use case and architecture discussions, finally during 2020, the project’s development phase kicked off. IF joined efforts with NTNU, ABB, Powel, TronderEnergi and SmartMpower.
Building on the requirements from stakeholders in the lighthouse cities, Limerick and Trondheim, IF tested an MVP of a decentralized Energy Trading Platform. You can watch a summary of this work in this video or keep reading the remainder of this blogpost for more details.
First things first: What does energy trading mean? And why is it important?
Nowadays, global energy use has its two major vectors in (i) buildings, which have approx. 40% of total primary energy demand and in (ii) transportation, which account for approx. 28% of the same energy demand.
Despite the high energy consumption associated with buildings, recent innovations in smart building technology are starting to ...
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