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P2P Energy Protocol (P2PEP): A project aiming to revolutionize the transition towards clean energy
Organisation : P2PEP , Macedonia

P2P Energy Protocol (P2PEP) aims to revolutionize, boost convenience, increase efficiency and lower costs for all parties aspiring to make the transition towards clean energy. Through the P2PEP Platform, clean Energy can de directly traded peer to peer. P2PEP is an advanced solution based on the blockchain technology, PEP is a payment token for energy trading over the network. P2PEP uses a standard electronic Confirmation Matching (eCM) which is the established standard for energy trading. eCM helps to reduce operational risk, cost and delays when processing confirmations.The P2PEP platform is meant to connect, and bring reliability and stability to the market.

Agendas addressed
DecarbonisationBiodiversityGreenfield land and natural space
Climate changePublic spaceSocial inclusion and integration
Local economies and employment
Pathways followed
  • Ensure equal access to municipal services
  • Involve citizens through participatory implementation
  • Encourage local private and civic engagement
  • Promote social innovation supporting inclusion
  • Nurture a sharing economy
  • Capitalise on local economy and production
  • Create and close local value chains
  • Apply innovative financing approaches
  • Implement sustainable procurement principles
  • Pursue a shift towards a circular economy
  • Wisely select and apply smart technologies
  • Accelerate sustainability and innovation through public procurement
  • Guarantee equal access to information & digital services
  • Support open data standards
  • Prepare policies for socio-cultural changes due to innovation
Context

Here is the project concept on paper: https://www.p2pep.com/whitepaper-v2/

In Action

A DApp is an abbreviated form for a decentralized application. PEP is a decentralized peer-to-peer protocol built on top of Ethereum blockchain, allowing anyone to use, exchange and trade renewable energy anywhere. A DApp has its backend code running on a decentralized peer-to-peer network. Contrast this with an app where the backend code is running on centralized servers.

A DApp can have frontend code and user interfaces written in any language (just like an app) that can make calls to its backend. Furthermore, its frontend can be hosted on decentralized storage. Since Ethereum contracts are code that runs on the global Ethereum decentralized peer-to-peer network, if an app = frontend application + server, then: DApp = frontend + contracts.

We plan to use MicroGrids:

A microgrid is a local energy grid with control capability, which means it can disconnect from the traditional grid and operate autonomously.

To understand how a microgrid works, you first have to understand how the grid works.

The grid connects homes, businesses and other buildings to central power sources, which allow us to use appliances, heating/cooling systems and electronics. But this interconnectedness means that when part of the grid needs to be repaired, everyone is affected.

This is where a microgrid can help. A microgrid generally operates while connected to the grid, but importantly, it can break off and operate on its own using local energy generation in times of crisis like storms or power outages, or for other reasons.

A microgrid can be powered by distributed generators, batteries, and/or renewable resources like solar panels. Depending on how it’s fueled and how its requirements are managed, a microgrid might run indefinitely.

Using the P2PEP energy trading platform and buying and selling clean energy is as simple as ordering an Uber drive or an Airbnb apartment. Users download our app in order to start trading renewable energy. For big renewable energy producers, this process is even easier, there are a lot of users on the network, who are craving for someone to sell them green-energy at a decent price and are sick of the environmental-polluting-energy they use today. Companies enlist on the platform, set their price and start selling energy to customers. We will strive to work with more wireless-energy startups to make this process even easier and without the need to transfer energy through cables, like so many people are used to today.

Results

P2PEP is a p2p (peer to peer), b2c (business to consumer) and b2b (business to business) energy protocol, enabling people to exchange PEP for energy from corporations and individuals on the network. For green energy corporations, this allows for easy energy transfer from the company to the customer without the need to comply with unreasonable conditions set by fossil fuel conglomerates. For individuals that produce energy with their own solar panels or wind turbines, PEP gives them the opportunity to sell the over-capacity they often generate to others in a peer-to-peer manner.

Another important mission of P2PEP is to give back. That is why we will engage in projects aimed at bringing clean energy solutions in areas that have poor energy infrastructure but plenty of opportunity to produce clean energy.

Impact

Overall, increased adoption and dependency on renewable energy has overwhelmingly good implications for the world’s environmental situation. The current paradigm involves burning natural gas and coal and results in global warming and pollution.

Furthermore, it has a negative impact on the public health of humans in general. With the shift to renewable energy, these problems will no longer worsen, and slowly the world will be able to recover from the injured state it resides in now.

In what direction is the electricity market headed today and in the future, and why is the "Blockchain" topic now so interesting for the electricity market?

Challenges and lessons learned

The status quo of the energy industry is largely dominated by companies that specialize in the production, utilization and distribution of fossil fuels, since they are the primary source of the world’s energy. This allows for oil companies to secure a strong position in the formation of government policies while those in the renewable energy sector are cast aside due to their significantly smaller market share. The future of energy production, however, indicates a very different picture will exist.

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Contact

ICLEI – Local Governments for Sustainability
European Secretariat

Leopoldring 3
79098 Freiburg
Germany

Tel.: +49 (0) 761 – 368 92 0
Fax: +49 (0) 761 – 368 92 19

E-mail: info@sustainablecities.eu
Website: www.sustainablecities.eu

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