What Is It?
Peer to Peer (P2P) Energy Trading is the ability for households and businesses with solar photovoltaic systems (Prosumers) to trade their excess electricity within their community to those without solar photovoltaic systems (Consumers). P2P markets offer more trading options than the standard one-way consumption traditionally offered by retail suppliers.
Advancements in micro-renewable energy generation and storage technologies have led to the proliferation of energy prosumers typified by businesses and individuals generating their own energy via renewable sources with the prospect of reselling surplus energy.
In order to sell surplus energy across an online marketplace, a platform is required that empowers communities in creating a low-cost, zero carbon energy future. Our Atlantic Power Ecosystem is that platform.
How does it work?
Peer to Peer (P2P) Energy Trading can be explained through the following example:
Step 1: Let’s suppose Sharon’s solar panels generate more energy than her household consumes and she would like to resell the surplus energy to her local community. Sharon contacts AtlanticX and our technician installs an AtlanticX energy metering device at her property.
Step 2: Sharon downloads our AtlanticX mobile app that allows her to join her local microgrid energy community.
Step 3: Sharon configures her new AtlanticX metering device with her energy generating capacity and offers her surplus energy for sale across her local energy marketplace.
Step 4: Sharon’s neighbour Michael downloads our AtlanticX mobile app because he prefers to lower his energy bill by acquiring energy through a local peer-to-peer network. Michael sets his preferred budget for acquiring local energy and pays credits in exchange for his energy consumption.
Step 5: Our Atlantic Power Ecosystem allows an exchange of energy for credit transaction to occur through a secure Blockchain network.
Step 6: Sharon earns credits for selling her surplus energy.
Why consider it?
Energy bills are rising due to increases in wholesale energy costs. In recent years, much of the increase in prices has been attributed to the need to invest in network infrastructure because of previous underinvestment in maintaining the network and increasing capacity.
Our Atlantic Power Ecosystem provides consumers with more options to save on their energy bill.
Traditionally, energy has been generated through power stations using fossil fuels. When energy is transmitted from power stations to households and businesses, roughly 4% - 8% is lost through electricity wires and across voltage conversions and these costs are passed onto consumers.
Our Atlantic Power Ecosystem eliminates inherent inefficiencies by offering a better alternative to the existing model.
While we have observed an acceleration towards renewable sources of power generation, most countries remain heavily reliant on power generation using fossil fuels because the significant up-front capital investment required in building a power plant can only be recovered over an average period of 20 years.
Therefore, a premature retirement of fossil fuel power stations will not occur without a compelling business imperative.
Fortunately, the prices of solar and wind power are becoming increasingly competitive while fossil fuel resources are by their nature limited causing their costs to rise. As more households continue investing in solar photovoltaics and rooftop solar batteries, we reduce our reliance on fossil fuels as
an energy source and accelerate towards environmental rehabilitation.
Our Atlantic Power Ecosystem offers an online marketplace that empowers communities in creating a low-cost, zero carbon energy future.