Japan’s Kyocera and New York-based LO3 Energy will begin a joint project to test the feasibility of a blockchain-managed virtual power plant (VPP), using a peer-to-peer distributed consensus network.
The demonstration VPP will combine companies’ technology and renewable energy products for improved distribution.
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Kyocera R&D Group deputy general manager Hironao Kudo said: “Kyocera is committed to developing low-carbon solutions that maximise renewable energy resources.
“We are excited to be the company in the area of grid management in Japan to collaborate with LO3 Energy, which has consistently proven its blockchain technologies all around the world.”
Both companies will begin the test on 28 February at Kyocera’s Yokohama Nakayama Office in Kanagawa Prefecture, Japan.
For this project, a small VPP will be installed using the company’s solar photovoltaic (PV) modules and batteries. Power will be controlled through LO3’s distributed ledger technology to log and manage energy flow.
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By GlobalDataLO3’s blockchain technology will be used to verify and record transactions, enabling consumer ‘sharing’ of energy they produce with their own solar panels via a microgrid, reducing the load on the larger grid.
LO3 Energy CEO Lawrence Orsini said: “The need to reduce carbon emissions is exerting a profound impact on energy providers worldwide.
“Using distributed ledger technologies, our networks enable the micro energy transactions needed to meet this challenge. We believe the synergies between Kyocera and LO3 Energy will produce a new generation of virtual power plants that can accelerate Japan’s transition to a low-carbon society.”
By combining Kyocera’s capabilities with LO3 Energy’s blockchain technologies, the companies will evaluate VPPs that promote a low-carbon society without fuels or carbon emissions.
