Start-up allows local energy exchange. Image source: Shutterstock (#413918224)
The Brooklyn-based startup LO3 Energy wants to change the way people buy and sell electricity. With their system, anybody with rooftop solar panels can auction surplus energy to their neighbors, thus creating a local market for clean energy. This way, there is no longer one seller (the centralized utility) and many buyers.
With the TransActive Grid meter, people can keep track the impact of their energy consumption and keep it local using a smartphone app. LO3 Energy utilizes blockchain technology for consumers to understand who is selling to whom.
CleanTechnica
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