INTEGRATION OF BLOCKCHAIN IN SOLAR ENERGY!




Monday, 2 September 2024

INTEGRATION OF BLOCKCHAIN IN SOLAR ENERGY 

Just think you have a big sunny terrace where you want to install solar panels to generate electricity for your own usage. This is extraordinary because it employs daylight to create power. But managing the produced electricity, using it efficiently, and sharing it with other people is a bit messy process, and this is where blockchain technology can be used to make things easier and straightforward. 

WHAT IS A BLOCKCHAIN? 

Before integrating it with the solar panel, we must know what blockchain is and how it can make things easier and transparent. So we'll understand it in a very easy language. Think of blockchain as a special kind of digital notebook that is not kept by just one person, but it is shared across a network of computers. It is responsible for each and every transaction or any type of entry. All the records are recorded and visible to everyone in this network. It's like once something is written, it can't be easily altered or erased. It's more likely a permanent record that every one can trust. 

HOW IT CAN BE USED IN SOLAR PROJECTS ?

Let's discuss some places where it can be used. Solar subsidy, here blockchain can help to track the subsidy issue by Government to install a solar panel to generate electricity. It can be used to keep track of energy production and share or sell the excess energy to others through smart contracts. And the blockchain ensures that all the transactions are accurate and fair, and everyone gets paid correctly without delays. Blockchain can create a decentralized smart grid that responds to demand and supply in real time and then supplies according to the user's requirement. And It can also help small local business owners to sell their excessive solar energy. Blockchain can help enable the sharing of energy resources such as electric vehicle charging infrastructure and storage banks. Now we can also add smart meters so that all our records about electricity consumption are more accurate.

CONCLUSION 

As you know, blockchain technology is continuously advancing, and its applications for the solar energy sector need to be expanded. The combination of both renewable energy and blockchain integration offers a great prospective towards a more sustainable and decentralized energy future.

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