The U.S. Department of Energy’s (DOE) Office of Science has awarded a $1.05 million grant to energy company ComEd, the University of Denver, Virginia Tech and software specialist BEM Controls to create an “energy Internet” that will enhance building energy management and benefits to occupants.
According to a press release, the award provides funding to commercialise a blockchain-based transactive energy platform developed by BEM Controls with funding from the DOE.
Blockchains use multiple servers that operate like decentralized record-keeping and verification systems. They are seen as a promising solution for energy companies bringing more distributed energy resources (DER) onto their systems and creating marketplaces offering an array of Internet of Things (IoT) devices and innovative energy services.
The BEM Controls software incorporates time-based energy management and control of interior spaces in buildings to achieve greater energy efficiency, reliability and resiliency. ComEd will use its Grid of the Future Lab to demonstrate the functionality of the system, which will be developed over three years.