IOEN in the Real World: The RedGrid App
Product and Traction
The Internet of Energy is not starting from scratch; it has been the vision of Australian startup RedGrid since their inception three years ago. Both RedGrid and IOEN are truly mission-driven; to help cool the planet by using more renewable energy and using energy more intelligently.
How Does This Fit with IOEN?
In Australia, RedGrid’s technology in the housing market allows individuals to participate in the new energy economy, and all they need are low-cost $7 smart devices. The RedGrid software provides control at the device level: nuanced microtransaction balancing. Aggregated up, it can change how the national grid balances energy supply and demand.
The technology behind RedGrid’s Powers App is the same engine that is the basis of IOEN: Holochain (please visit https://medium.com/internet-of-energy-network for more information). Points accrual for clean energy behaviour is kept with the device in an immutable, verifiable set of records. This resembles blockchain, but it is local.
IOEN is focussing on coordinating microgrids worldwide: new sources of energy that can assist a national grid, or can operate completely isolated from the grid. These microgrids use a currency local to them, just like the Powers App’s points system, but can be funded through the blockchain-based IOEN token, taking advantage of new DeFi (decentralised finance) instruments.
Enter Mirvac
RedGrid launched a successful crowdfunding campaign in 2019, fitting with its ethos of democratising energy and power for all. Shortly afterwards major Australian property developer Mirvac contributed a minor stake in the company. Mirvac recognised the demand for sustainable housing and has designed The Fabric, a new smart community with seven-star energy rated homes.
RedGrid has run phased smart energy trials with residents in another Mirvac development, testing device automation, analytics and behavioural engagement, culminating with the Powers app (beta). Working with and listening to the residents, the app has become an essential part of their daily routines:
“The new app is great, I can see when to use more renewable energy.” — Lucy, local resident
Changing the World from your Phone
The Powers App connects to agent-equipped devices in your home and tells users the optimum time to use cleaner and cheaper energy. It can automatically power devices based on grid conditions, resulting in a seamless experience for users. This is moving beyond energy monitoring to actual adjustment of usage for households to save money, reduce emissions and get rewarded through market mechanisms like demand management and solar soaking.
“I really love what you guys are doing, I love the technology. RedGrid should be in all new homes.” Steven R.
*Screenshots indicative of existing and upcoming functionality
The app tells you how much carbon has been saved with each action, empowering users and allowing RedGrid to accurately track CO2 and renewable usage at grid, city, and state levels.
RedGrid’s data scientists have created analytics on each device’s carbon footprint. As the dataset grows, it is being fed in for machine learning and predictive usage against others in the locale, city, and state levels. Holochain technology allows this to be done anonymously.
Rewarding Green Behaviour
The Powers App points accrue when residents use energy when their local grid is higher in renewables and lower in fossil fuels. This reduces their household emissions, helps to avoid brownouts or blackouts during extreme weather, and keeps improving renewable energy’s viability.
Retailers have used techniques as simple as text messages asking people to refrain from using appliances at certain times. RedGrid goes further and lets you accumulate points that can be applied elsewhere. Think of a frequent flyer programme, with a catalogue of choices to redeem your points. It may be to get a free coffee at the local café that supports green energy; it may be to further reduce your energy bill.
Being a local part of a much bigger global movement
Frictionless, global funding combined with local incentives is the right mix to invoke lasting change. Being decentralised this can happen everywhere, quickly, and this must happen in this decade. The Powers App is the beginning of a revolution in a grassroots, bottom up energy economy. And IOEN is going to supercharge it.
ABOUT IOEN
IOEN is the underlying fabric that unlocks virtual microgrid capabilities.
Using blockchain and Holochain technology, IOEN enables homes anywhere to function together as an intelligent, cooperative electricity system. By connecting homes in this way, they become a local, virtual energy microgrid. Any energy device, whether generation devices like solar panel systems, storage devices like batteries, or consumption devices like household appliances can be connected within the microgrid network. Together, they coordinate energy effectively, creating a secure, reliable, and scalable microgrid that unlocks the opportunity for more renewable energy within the local network.
Clean energy microgrids are the future of energy everywhere. IOEN’s mission is to create and deliver digital infrastructure through blockchain and Holochain technologies that accelerate this transition for everyone.
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