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What sustainability efforts have we really contributed? In addition to lowering energy consumption, is it a huge move we made to reduce carbon emissions? Solar panels placed on our roofs could be one thing, but as the climate continues to change drastically, there are many more efforts to be made.
Power is, categorically, what makes us live every day. Since processing this energy and transmitting it to the interconnected cable lines between our homes to equipment that needs replenishment produces a lot of carbon, we should reconsider the system now. But today a technological transformation could make energy consumption – blockchain – more ecological.
Blockchain maintains recorded transactions through a ledger, thereby eliminating the need for an intermediary in energy transactions as it allows neighbors to exchange energy and solar and hydropower producers connect with communities to provide renewable choices. This system will make the distribution of energy more cost-effective and promote the mutual energy relationship as excess energy can be resold or returned to the source.
Apart from this, people can now manage their energy smarter, as companies can now implement demand response options. By aligning incentives, this system will push people to take care of their consumption, so companies will be able to provide energy as a service to customers through automation.
Furthermore, blockchain will improve the interconnection of high quality data between houses where they can control their energy consumption through smart devices. In addition, when the network needs to save energy, it is possible to optimize the use of electricity in public places or even in homes, thus avoiding financial downturns due to improper use of energy.
Blockchain technology will enable the economy to share energy and provide more opportunities for communities to exchange energy when needed, reducing the need to rely on non-renewable sources at all times. This could be a step towards a more sustainable future compared to conventional solutions and almost without effect.
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