Consumers Can Share Green Energy With Peer-To-Peer Exchange
A new platform proposes flexible financial benefits for consumers who invest in renewable energy at home
Green Power Exchange (GPX) is currently working on an Initial Coin Offering (ICO) that allows consumers to trade energy with one another. This would put more power in the hands of consumers who invest in green energy systems for their homes, allowing major generators to sell extra (and otherwise unused) energy to people who need it without strict contracts.
“Solar and wind power is cheap, so we want people to use more of it,” GPX Founder Christian Wentzel told TechCrunch. “The utility and power company either is a direct or quasi-monopoly, leaving no customer choice,” he also said. “We want to change that and save consumers a ton of money while improving the environment.”
There are currently two coins: the GPX that is used to buy and sell energy, and the GET, which helps manage the energy after purchase. Wentzel and his team are looking to launch these coins in 2019. So far there are already 62 solar sites signed up to try the coins when they roll out.
Lead Image: Home solar power stock photo from Federico Rostagno/Shutterstock