First of the kind blockchain electricity market pilot project Quartierstrom was successfully trialed in a community in Switzerland, reported Microgrid Knowledge on March 3.

For a period over a year, 37 households in Walenstadt have been using the blockchain system for trading power generated by solar panels within the community.

Blockchain system managed transactions between energy producing households and consumers, taking into account their price preferences in automated energy auction that was happening every 15 minutes, with the surplus bought by local utility company Water and Electricity Works Walenstadt (WEW).

Funded by Swiss Federal Office of Energy project has received very high levels of engagement, shared Verena Tiefenbeck, leader of the Bits to Energy Lab at ETH Zurich, and now the project is planned to be extended with additional features.

As Future Time previously reported, in December international research team from the Australian University of Sydney, National science agency CSIRO, and Spanish University Pablo de Olavide has proposed a breakthrough approach for using Artificial Intelligence for solar power forecasting.

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