Blockchain applied to the solar energy market

innovation at edp

Blockchain applied to the solar energy market

Brazilian law on the remote consumption of distributed energy provides that consumers may rent a quota from a remote solar farm and secure their own energy supply from a renewable source.

At the end of the month, the electricity distribution company must ensure the settlement of payments between producers and consumers, levy all fees and taxes provided by law, and be paid for the use of the distribution network.

EDP Brasil, in collaboration with EDP Inovação and Austrian startup Riddle&Code, has developed a blockchain-based solution that enables automatic account settlement between all agents involved, in a secure, transparent and scalable manner, by using so-called smart contracts. The design of the blockchain solution aims to ensure the scalability and sustainability of the entire system.

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