Blockchain-powered P2P energy trading on trial at Britain’s biggest social housing PV installation

Facebook
Twitter
LinkedIn
Reddit
Email
The rooftop solar was installed on the Hackney apartment blocks in 2015. Image: Repowering London.

Verv, an energy monitoring and AI company, has laid claim to launching the UK’s first energy trading community at a housing estate in Hackney, East London.

The machine learning specialist has collaborated with community renewables developer Repowering London to conduct a field trial of its blockchain-based peer-to-peer energy trading solution at Banister House, a housing estate which has previously benefitted from community solar installs.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Verv has said the project will see the first physical trading of energy in the UK, the results of which will be used to help further roll out of such schemes across the UK.

The Verv 2.0 platform is to be installed in 40 participating flats throughout the community, allowing them to share renewably-sourced energy between one another.

It will use electricity sourced from Banister House Solar, the UK’s largest community energy scheme established on social housing, which was launched in 2015. Solar panels were installed on 17 blocks of flats that make up the estate.

Verv said the addition of its platform alongside communal battery storage systems, to be provided by local manufacturer Powervault, would allow energy produced by the solar systems to be stored, shared and traded between flats to reduce wastage.

The project is being supported through a £100,000 (US$132,358.5) grant from the government in support of national industry regulator Ofgem which is currently researching the potential for blockchain and peer-to-peer trading platforms within its so-called 'regulatory sandbox'.

It will start early next year and last for a period of 12 months.

Peter Davies, founder of Verv owner Green Running, said it was his intention to “tackle the energy sector at its very core”.

“We are on a mission to give the consumer control of their energy and the Banister House project is a fantastic opportunity to bring to life just how much this P2P infrastructure can benefit areas such as social housing.

As a company our goal is to eradicate fuel poverty and by partnering with Repowering to put Verv 2.0 into Banister House to enable the sharing of clean energy at affordable prices, we are moving one step closer towards making that happen. The fact that we will be physically trading energy for the first time is a very exciting prospect,” he said.

Internationally, there are various trials underway to assess the potential of energy trading within P2P networks. On a commercial basis, German energy storage provider Sonnen has already launched SonnenCommunity, an energy sharing and trading platform and has separately worked with grid operator TenneT to trial Blockchain-enabled balancing of renewable energy resources across long distances, for instance trading surplus wind generated power in northern Germany for solar generated in the south. 

Read Next

May 22, 2024
Government has a “significant” role in providing routes to market, according to speakers at Solar Media’s Renewable Energy Revenues Summit.
Premium
April 1, 2024
Gareth Simkins examines the winning projects of AR5 and looks ahead to assess how solar is likely to fare in future rounds.
Premium
March 26, 2024
The Renewables Obligation (RO) has incentivised UK clean electricity generation since 2002 through Renewables Obligation Certificates (ROCs).
January 29, 2024
Schroders Greencoat has revealed that it will complete the UK’s “largest-ever solar acquisition”, securing 53 solar farms from Toucan Energy.
Premium
November 20, 2023
PV Tech Power contributor John Lubbock examines the challenges of reforming the UK’s electricity market in the face of the increased rollout of renewables in the country.
November 1, 2023
The UK solar industry is set to add an additional 1.7GWpdc of new PV capacity in 2023, according to the Solar Media Market Research team.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia