- KEPCO, a Korean energy firm has announced that it will integrate blockchain technology in its latest energy project
- This project converts excess energy to hydrogen for storage
- There are also plans to create the first mega-wattage energy-independent Micro Grid
KEPCO, a Korean energy firm, announced in the 18th of November that it is pursing the ‘KEPCO Open MG Project’ which will help develop the Future Micro Grid (MG). This will entail the including of blockchain technology with the firm’s existing Micro-Grid to create the KEPCO Open MG.
The old Micro Grid consisted of photovoltaics, Wind Turbines and energy storage devices. While these were functional, they struggled to supply stable power.
The new system strives to ensure that there is no wastage, even of leftover energy.
Instead, by using P2G, any leftover energy is changed to hydrogen which allows it to be kept aside and then re-converted to electricity when the need arises.
There is a significant environmental benefit to his new Grid as no greenhouse emissions are made and it also has a greater level of energy independence.
There is an expected contribution of this Grid to job creation and it is more forward thinking as it embraces the hydrogen economic society.
It’s international standard technology means that it improves operational efficiency and maintains its relevance by embracing new and innovative technology such as blockchain which ensures better recording of energy generation and conversion figures.
Looking to the future
In the past, each Micro Grid had its own technical standard. However, once interoperability became possible, a uniform expectation was created and a certain stability was achieved.
While KEPCO Open MG is just getting off the ground, there are plans to expand in the future and eventually create the first Mega-Wattage energy-independent Micro Grid.
Testing will begin this year and a number of provinces will be selected for that purpose. For now, KEPCO is in talks with electric power companies.
Should this go well, the use of blockchain in power generation will see a significant boost.
This is because blockchain is heralded as the technology of the future and Kim Jong-Gap, the president of KEPCO has stated that “Through this project, KEPCO will show the speed of new and renewable energy generation and energy efficient projects. We will take a step forward as an energy platform provider to drive energy conversion and digital conversions.”