Coal, natural gas and oil supply around 80% of the energy needs today. In the process, the largest consumers like China, USA, EU, India are causing a whopping 36 billion tons of CO2 emissions every year. With major climate change looming as a result, a depleting stock of fossil fuels and developing countries requiring ever more energy, it's imperative to develop alternative sources of energy, especially clean energy, on a massive scale.
Nuclear power requires big infrastructure and the radioactive hazards create a real safety risk. Fukushima power plant disaster is vivid in our memories with a devastating effect on environment and people. Add to this the largely unresolved issue of waste disposal and the huge burdens these places on future generations, and it’s clear that nuclear is not the answer to our energy needs either.
The Duck curve, a graph of PV power production over the course of a day, shows the imbalance between demand and production. In many energy markets, the peak demand occurs after sunset, when solar power is no longer available. In locations where a substantial amount of distributed solar electric capacity has been installed, the Duck Curve is very pronounced. In fact, in some markets such as Germany, on a sunny and windy day, neighboring countries had to be paid to absorb the excess energy to keep the grid stable. This is obviously not desirable for any of the stakeholders.
Two elements are needed to address this: A strong demand response system, that can shape consumption and shift it to when electricity is most cost effective, and the ability to store energy, including battery-based storage.
The grid infrastructure, and here namely the long distance transmission lines cause considerable power losses, in the range of 6% in US to 20% in India.
The world loses US$ 89.3 billion annually to electricity theft. The highest losses were in India ($16.2 billion), followed by Brazil ($10.5 billion) and Russia ($5.1 billion). The president of Northeast Group Ben Gardner stated, "India loses more money to theft than any other country in the world. The state of Maharashtra—which includes Mumbai—alone loses $2.8 billion per year, more than all but eight countries in the world”.
Distributed energy resources like solar, wind, battery storage, etc are facilitated to trade peer to peer.A battery storage selling power to another battery based on market conditions
Blockchain facilitates a high security platform with low trasanction cost.It enables the 6 D’s, Digitalized, Deregulated, Decentralized, Distributed,Democratized and De Carbonisation
A simple to use mobile application giving the customer a real time visualization of energy generated, transacted and saved.It enables customer to place buy and sell orders viewing current market trends.
Producing energy where needed would enable less loss of tramission,it also negates the need for heavy infrastructure needed for tranmission
A consesus mechanism to validate and prevent malpractises.The system could evolve to facilitate a repuatation management solution in future.
The platform changes the way we transact, with the underlying transaction model shifting away from a centralized structure (banks, exchanges, trading platforms, energy companies) towards a decentralized system (end customers, energy consumers). Third party intermediaries, whose services are needed today in most industries, are no longer required given that transactions can be initiated and carried out directly “from peer to peer”. This can cut costs and speed up processes. As a result, the entire system becomes more flexible, as many previously manual work tasks are now carried out automatically through smart contracts.
The platform strengthens the market role of individual consumers and producers. It enables prosumers, i.e. households that not only consume but also produce energy, to buy and sell energy directly, with a high degree of autonomy. The current legal and the regulatory framework for consumers and prosumers in the energy sector is clearly defined and provides protection on many levels to consumers in particular. However, in the medium to long term, this framework will probably have to be adjusted to reflect the requirements of decentralized transaction models
The transaction data can provide the basis for metering, billing and clearing processes. Other possible areas of application are in the documentation of ownership, the state of assets (asset management), guarantees of origin, emission allowances and renewable energy certificates. This has a potential to radically change energy as we know it, by starting with individual sectors first but ultimately transforming the entire energy market.
A forecast of 100 million EV's by 2030 the platform can facilitate an echo system where communities can own EV chargers developing an echo system for empowerment.
The platform facilitates a decentralized ledger to transact peer to peer without a need for a trusted centralized authority. This facilitates an echo system to empower the community. Creating a market place to trade energy locally is the differentiator.
A technocrat with experience in retail,digital security, health and social care within an ability to build and establish business and forge loyalty with clients, business partners and stakeholders.
Shine is a blockchain enthusiast specialises on cryptocurrencies, smart contract security and distributed consensus algorithms.
Martin has got an experience in building and delivering IT solutions within engineering, public, social care and insurance sector. Coming from technical background with ability to lead multiple cross-functional development teams globally.
HP has broad management, business and technical experience acquired in multiple industries globally, and in companies ranging from global leaders to startups. HP founded SunReports Inc., an influential startup in Solar Energy Monitoring.HP worked with Philips where he re-engineered the companies’ global TV business. HP has a degree (Dipl. Ing.) in Electrical Engineering, and has generated over 25 lifetime patents.
Timotej has extensive demand-side experience having led the demand-side analytics team at PG&E. His current focus is on clean energy research and consulting. He holds an MBA from UC Berkeley-Haas and has worked in risk management and financial auditing.
Kin has excellent experience in energy sustainability and diversity along with exposure to high-performance computing. He has deep interests in risk and uncertainty in gaming and is a fan of Poincare, Poisson, and Popper.
We want to be a solution provider wherein we partner with other players on solar panels, smart meters, micro grid, storage devices to bring an uniqueness in this space. Depending on the market we want to facilitate local partnership and that is where we believe we can empower the local community.
Here at Bovlabs, we believe cooperation is a key to any success. Especially, when talking about the technology of tomorrow and creating self-sufficient communities. Let’s get in touch!
Bovlabs is one of the 12 startups selected to a program initiated by thecamp's Accelerator co-produced with Le Village by Crédit Agricole Alpes Provence.
Bovlabs in partnership with ERock a Texas based smart grid developer is developing a pilot soluiton for making a transactive grid. The solution would faciliate a market place to trade energy peer to peer with minimal transaction cost, in a highly secure platform.