Power2Peer

Over the past decade, the proliferation of distributed generation has increased substantially as renewable energy has become more affordable. Taken together with centralized generation, there is an abundance of electric supply. But renewable resources are significantly underutilized. In periods of peak demand, power needs are still met with carbon-heavy centralized generation and oversized substations. Despite the threatening realities of climate change, consumers are left with few alternatives and little control over where their energy comes from. At the same time, the rise of the “sharing economy” has ignited interest in the idea of “energy sharing,” where friends, family, and neighbors can provide energy to each other over localized networks known as “microgrids.” Applying new technologies like blockchain and IoT intelligence to the burgeoning potential of clean energy, innovators are now creating opportunities for consumers to take control. 

People today understand the crisis facing our planet; they want to see change. Entrenched power structures and fossil fuel subsidies have made it an uphill battle for renewable energy to take hold. Furthermore, in the current economy, young people are often unable to afford their own home, let alone their own solar panel installation. Microgrids offer a simple way for progressive-minded people to buy in on the future of renewable energy. Just by connecting to the clean energy marketplace, consumers will gain access to cheaper, more resilient energy that comes without the baggage of runaway carbon emissions. For those who are able to generate clean power, the clean energy marketplace enhances returns on investment by providing an outlet for excess power that often cannot be otherwise used or stored.

With Power2Peer’s clean energy marketplace, people will finally be empowered to trade energy in local markets, sourcing and providing clean electricity through a network of microgrids. This means that both primary and backup power is available when needed, even when the utility grid goes down. By making better use of renewable resources, communities will contribute to a cleaner environment, minimizing their carbon footprint. Because locally produced solar power has a low marginal cost, consumers will pay less than they would for grid power. By integrating other alternative forms of energy like wind, hydro, and geothermal along with rapidly improving battery storage capacity, microgrids can drastically reduce the need for carbon-intensive generation.

Power2Peer’s mission is to create a clean energy marketplace by connecting local microgrids powered by solar panels and other renewable resources. No longer will people be dependent on a centralized grid operated by large corporations. With a simple mobile app called P2PConnect, users will buy and sell clean energy kilowatts seamlessly over a blockchain-secured trading platform. P2PConnect will integrate a variety of clean energy sources with a blockchain-secured framework that allows users to buy and sell clean energy locally. Decentralized power grids are more resilient, more efficient, and better for our environment.

We are currently looking toward pilot phase and will begin serving up to 1,000 people in the next year and scaling to 15-20,000 people in the next five years.

Our goal within the next year is to apply and refine our model within a pilot phase, while the next five years we have a goal of integrating into various communities in the US and beyond. 

Our barriers are primarily financial, as well as technical. Financially we need funding to complete a lot of our work on the technical side. We also need to become more closely engaged with various governance institutions who need to give approval for us to run microgrids in their communities. 

We believe Solve can help us get from our current stage to validate us for larger amounts of funding, enabling us to reach our goals.