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Blockchain-enabled local energy marketplace

Latrobe Valley Microgrid Feasibility Study

  • $370k

    ARENA Funding

  • $775k

    Total Project Value

  • Project basics

    ARENA Program

    Advancing renewables

    Lead Organisation

    LO3 Energy

    Start Date

    Mar 2018

    Project Partners

    None

    Location

    Latrobe Valley, Victoria

    Status

    Current

Project Basics

ARENA Program

Advancing renewables

Lead Organisation

LO3 Energy

Start Date

Mar 2018

Project Partners

None

Location

Latrobe Valley, Victoria

Status

Current

Summary

The Latrobe Valley Microgrid Feasibility Study will assess the viability of creating a local energy marketplace for dairy farms, residential participants and commercial/industrial customers in the Latrobe Valley. Participants will sell excess energy generation, demand response capabilities and network support services to improve integration of Distributed Energy Resources, such as rooftop solar. The Project will incorporate PV, storage, demand response and LO3 Energy’s Exergy platform to deliver an optimal distributed energy model in the region.

How the project works

The Latrobe Valley Microgrid will demonstrate how local distributed energy resources and demand response can be incorporated into a local energy marketplace to improve the efficiency, security and resiliency of the electricity grid, and improve economic outcomes for participants. Participants will sell excess energy generation, demand response capabilities and network support services to improve integration of distributed energy resources, such as rooftop solar. The Project will incorporate solar panels, battery storage, demand response and LO3 Energy’s Exergy platform to deliver an optimal distributed energy model in the region.

Area of innovation

LO3 Energy has developed a blockchain-based platform called Exergy. Blockchains are digital ledgers that simultaneously share, update, and distribute information without the need for a central storage facility for data. Types of transactions enabled by Exergy include (1) a user with solar panels selling their excess production to their neighbour (2) a grid operator buys frequency regulation from several small storage systems (3) a user sets their programmable thermostat to reduce energy use when the local price for energy goes above a certain price threshold, (4) users are charged a dynamic grid fee based upon the physical infrastructure required to transact with their counterparty.

Benefit

The Latrobe Valley Microgrid is expected to enable new business models for distribution networks, retailers and other service providers, as well as unlocking additional value for Distributed Energy Resource owners, ultimately reducing overall supply costs to all consumers.

Media

Contact information

Belinda Kinkead

bkinkead@lo3energy.com