Green Power Exchange - The Blockchain based P2P Energy Trading Platform
Every day in the world, payment for electricity is constantly increasing, at the expense of non-honest intermediaries, we are forced to pay more and more, how to deal with this and stop the rise in prices. Everything is very simple, there is a simple way out of this problem, the Green Power Exchange project will help to solve this problem.
The utility of blockchain based applications for finance is evident, however, the nature of smart contracts and the ability of the blockchain to provide not only an easy method of accounting, but also device interoperability via the Internet-of-Things (IOT) makes it a viable method for managing a large part of the modern power market.
Additionally, the benefit of having an automated system handling the data management is that electrical grid load balancing becomes a much smaller problem. All power production is based on forecasting and estimates, and any grid load balancing is entirely reactionary. The Green Power Exchange will be able to handle any and all of the load balancing related to its use as a function of the PPAs that are signed within it. Smart meters are required to facilitate this as they will provide real time measurements of power usage, however there are standard APIs that can interact with every smart meter currently in use, so data tracking and management can be automated.
Smart contracts and physical contracts are similar, in that they both contain “If-Then” statements and variables, but smart contracts don’t execute automatically unless all criteria are met.
Blockchain can automate the vast majority of grid balancing functions, and can easily track all transactions across the network. Levelized Cost of Electricity (LCOE) Future Outlook for Renewables and Conventional Sources
The global interest in renewables doesn't arise solely from the promotion of clean energy, there is strong evidence that renewables have superseded fossil fuels as the world's cheapest electricity source.
Whilst the LCOE for renewables continues to fall, forecasts predict an increasing overall cost for the deployment of new oil, gas, nuclear and coal plants.
As discussed above, electricity is mostly generated from fossil fuels, such as coal and gas, and renewable sources, such as solar and wind. There are a number of complex processes and participants involved in converting fuel and delivering electricity to the consumer on a controlled and balanced grid that can be broken down into four key categories as outlined below:
- Generation Electricity production by large-scale energy producers.
- Transmission Moving the generated electricity over long distances using a high
voltage, often from power plants to distributors. - Distribution The movement of electricity from the high-voltage transmission network
to the consumer. Distributors are responsible for managing low-voltage electric lines that connect to households or businesses. - Retail The sale of electricity to consumers, retailers are responsible for
administering and billing consumers.
The difference here between renewables and fossil-based power plants is that solar and wind facilities can be interconnected on a distribution level due to their smaller individual project size. Large coal plants need large power lines. Medium sized solar plants can be near where demand is located and integrated into the local grid. This means generation and transmission costs can be minimized for renewables. minimized for renewables, enabling significant savings.
Price: 1 GPX = $ 0.10
Payment accepted at ETS Soft Cap: $ 6 million
Hard Cap: $ 112 million
Token distribution:
56% - Sales
19% - Team
14% - Future reserve
11% - Community
I think the project is quite promising and in demand, I advise you to look at it and study in more detail.
Website: https://gpx.energy
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