The Internet of Energy Things (P2P – IoET)
Team: David Shipworth (UCL)
Partners: Siemens, UKPN
The rapid rise of local and community based renewable energy generation, combined with the rollout of smart meters, breakthroughs in IT, and electricity grid congestion is bringing about radically new collaborative economy business models in energy. In response, people are beginning to trade energy locally. Distributed ledger (blockchain) technologies are used to authenticate and track ownership of energy production, consumption, and demand-side response ensuring each unit of energy is securely and transparently accounted for. This project will lay the ground work for such systems in the UK – analysing the regulatory, security, engineering and societal requirements for their acceptability.
Target Outcomes: TBC