How AI And Blockchain Are Driving The Energy Transition
Many people who have increasingly despaired at the adverse effects of changing climate have probably mused: Why can’t we go completely green? Why are fossil fuels so hard to quit? The answers, as usual, are legion: Renewable energy is too expensive, too unreliable, too undeveloped and fossil fuels lack a suitable substitute. All of these reasons contain a modicum of truth. But our biggest challenge remains lack of political will because lowering our reliance on fossil fuels requires dedicated investments that provide uncertain, long-term benefits.
Indeed, scientists have continued making remarkable progress in ironing out one of the biggest kinks of clean energy: The intermittent and unpredictable nature of renewable energy.
Now, researchers have come up with yet another solution to make renewable energy more dependable: Renewable Energy trading platforms that leverage AI and blockchain technology.
Dutch scientists have successfully developed Distro, a solar and battery storage-based microgrid trading platform underpinned by blockchain distributed ledger technology and AI.
Distro is both good for the goose and the gander: The platform has demonstrated double-digit reductions in energy costs for customers as well as comparable revenue improvement for renewable energy producers.