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10 December 2018 at 22.30
The virtual power plant will be a network of interconnected energy sources controlled by a central information system.
The Government of South Korea plans to invest in the development of a virtual power plant, according to an article dated December 10th from Yonhap News Agency.
The project, which reportedly costs 4 billion won won (about $ 3.5 million dollars) was proposed by the Korean city of Busan – where Korean officials intend to build a blockchain hub to rival Zug in Switzerland. Nuri Telecom, Pusan National University, Busan City Gasand the Korean Industrial Complex Corporation is also involved in the project.
According to the article, the new virtual power plant will be based on blockchain technology – most likely to facilitate the connection of data between different energy sources – and is intended to function as a single power plant using "inactive power from multiple sources of distributed energy. "
When you think of a power plant, you will most likely have visions of vast buzzing compounds with giant turbines, transformers, and miles of cables and wires that work together to give customers the power they need when they need them. In modern times, you can even imagine rows and rows of windmills or solar panels, but may not provide for "tentacular networks of independent batteries, solar panels and low-energy buildings that are connected to each other and controlled remotely by software and data systems, "as a The Yale University blog post on virtual power plants puts it.
In essence, virtual power plants work by connecting different sources of energy – solar, wind and combined heat and power systems – through a central IT control system, which could incorporate blockchain technology (though perhaps not the most decentralized one).
According to an exponent on next-kraftwerke.com, this central system is therefore able to establish the transfer of data between all the power plants participating in the network. Once connected together, the central control system can "monitor, predict and send network units". In turn, this system allows energy traders to use real-time data to better predict and exchange renewable energy.
In theory, the ability to forecast and exchange renewable energies better will reduce consumer energy demands during peak periods and provide more renewable energy to specific distressed areas. Virtual power plants also have the potential to reduce dependence on conventional energy sources and avoid grid interruptions.
The Yonhap News Agency quotes Korean officials saying that with the new virtual power plant "Busan will take the lead in the futuristic power exchange [and the] market of virtual power plant platforms ".
Google Translations.
Nathan Graham is a full-time writer for ETHNews. He lives in Sparks, Nevada, with his wife, Beth, and the dog, Kyia. Nathan has a passion for new technologies, guarantees writing and stories. He spends his time rafting on the American River, playing video games and writing.
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