Insolar was recently shortlisted for the UK Energy Innovation Awards supported by the Energy Industries Council. Insolar is nominated for an award as the Best DSO Enabling Project. Insolar’s innovative project entails the creation of a Transactive Energy System based on the company’s blockchain platform.
The awards have been showcasing the best innovations within energy since 2011, bringing industry leaders and innovators together to celebrate ideas and technologies that benefit customers, the environment, the industry and the supply chain. The DSO-enabling category that Insolar has been nominated for relates to distribution system operators and the creation of more sustainable energy systems that utilize smart energy redistribution.
Companies nominated for the award have created projects that facilitate the transition to distributed smart grids to create a more flexible and efficient energy system. The Insolar Transactive Energy System has been designed to align the economic objectives of distributed energy stakeholders with the overall objective of maintaining grid resiliency. It seamlessly connects all stakeholders within the energy sector to realize smarter, and more sustainable energy systems. The TES seeks to create resilient and sustainable microgrids to serve self-sufficient communities due to the local production and consumption of renewable energy. In addition, these microgrids may trade energy and supply ancillary services to each other, creating a more cohesive and secure grid that is not dependant on a single source of energy and is also price-competitive.
You can read about the system in detail in our informational brochure, which outlines the main aspects of the TES, powered by Insolar Blockchain Platform.
The awards ceremony will take place on September 26, 2019. With twelve different nomination categories. We would like to wish the best of luck to all the nominees!
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