Eloncity — Local Renewable Energy 24*7 — Whitepaper Review
We cannot think a life without electricity, we need electricity to light a bulb, charge mobiles and for several home appliances. Despite tremendous advancement in technology, our model of distributing electricity is same and this model faces several challenges in providing safe, secure, reliable and affordable energy services.
A non-profit organization based in Singapore who advocates for employing decentralized renewable energy as a possible pathway to address the problematic existing electricity infrastructure. The proposed Eloncity Model integrates advanced technologies, best practices and lessons learned to create a scalable and replicable recipe for unleashing the potential of the community-based renewable microgrid to attain a more vibrant regenerative energy future. The Eloncity Model builds upon the following aspects.
A decentralized renewable energy architecture, which comprises of high-performance blockchain technology platform that provides an open, secured and distributed ledger for efficient recording of high-volume and high-speed energy transactions in the community.
An intelligent networked battery energy storage system (BESS) deployed on the customer premise harmonizes local electricity supply-demand. BESS mitigates the needs for costly capacity and ancillary services. Additionally, BESS also helps to flatten intermittent renewable generations into predictable, reliable and dispatchable renewable resources. The target outcome is to make the energy infrastructure more adaptive, efficient and reliable.
Customer-sited or community-based renewable generation, such as solar PVs coupled with an intelligent networked BESS, would fulfill all or nearly all the local energy demands.
Community DC power network uses the renewable DC power more efficiently by eradicating energy loss from repeated AC-DC-AC conversions as well as eliminating the needs for costly AC power ancillary services.
The key technology building blocks of Eloncity Decentralized Energy Architecture (EDEA), an ecosystem of decentralization technologies and crypto economic tools to enable the shared regenerative energy economy. The modular design facilitates tailored deployment of Eloncity microgrid for diverse communities around the world. An optimal Eloncity configuration would be a direct current (DC) microgrid serving customers within a one-mile radius. This microgrid uses the DCBus Scheduler to manage the power flows in the community. The shared resources in an Eloncity microgrid would be locally generated renewable energy, and the equipment such as BESS, PV arrays, small wind turbines, electric vehicles, DCbus Schedulers and other decentralized renewable energy assets.
Eloncity microgrid resources sharing help to maximize asset utilization rate and accelerate the return-ofinvestment of the assets. The blockchain exchange platform, or the Eloncity Token Protocol (ECTP), functions as the open and secured public accounting ledger. This ledger would track the transactions of community resources sharing and the sources of delivered electricity, renewables or fossil fuel.
The ECTP is an enhanced Ethereum blockchain platform that supports high-volume high-speed transactions. The ECTP smart contract equitably allocates the cost-benefits based on where and when the shared resources are used. To support optimal local energy supply and demand, Eloncity’s artificial intelligence (AI) technology and community network10 provide real-time information on local energy pricing to participating community members to aid in informed decision making. Each community member can set his or her own purchase prices for needed energy, and sales prices for the excess energy. The design’s objective is to optimize localized energy supply and demand in real-time. For microgrids that cannot satisfy their own demand with locally produced renewable energy, they can import energy more cost-effectively given that their energy demand is stable and predictable.
A microgrid that continues to rely on imported power to meet their demand is called transitional microgrid. While a self-sufficient microgrid is a long-term objective, the transitional microgrids can dramatically reduce the operational cost of existing centralized grids in the near-term and help to reduce cost-burden to the ratepayers. Additionally, Eloncity Model includes a crypto utility token, Eloncity Token (ECT), to facilitate local energy exchange and incentivize investment in battery energy storage system (BESS) for storing newly harvested renewable energy, as well as creating an open global marketplace for renewable energy products and services.
The DC appliances are reported to consume 8% lesser power when compared to the AC appliances.
The potential markets for the Eloncity Solution would be areas that are being served by fossil fuel and nuclear powered centralized grid, or those areas that lack electricity services. Eloncity’s market penetration strategy intends on providing full turnkey solutions in areas that lack electricity infrastructure, while simultaneously offering tailored Eloncity solutions to incumbent utilities to address the chronic challenges facing the existing centralized grids in built environments. The Foundation will collaborate with the incumbent utilities to fortify existing grids. The reformation of existing utility regulatory regimes is not prerequisite for the success of Eloncity market transformations.