How Brooklyn Is Democratizing Energy Consumption
New York's latest installation is an experiment on energy distribution and purchasing
The TransActive Grid, a joint venture between BitCoin developer ConsenSys and Lo3 Energy, is a cutting-edge micro-grid project located along President Street in Brooklyn, New York. The concept revolves around localized energy generation through trading with neighbors, and is therefore less reliant on traditional utility companies to power an individual housing unit.
On one side of the street, five homes equipped with solar panels harvest energy throughout the day, while the homes on the other side buy from them when running low. At center is a blockchain network, which manages and records all the transactions that take place with minimal human contact.