Shanghai’s Energo Labs proposes decentralized energy trading in PH

A SHANGHAI- BASED startup is seeking to decentralize energy production and consumption in the Philippines.

In a statement, Energo Labs said its “decentralized solution encourages communities to first use the renewable energy generated in the microgrid, thus decarbonizing the energy sector, and also provides solar PV [ photovoltaic] cell owners a new source

A microgrid is a small- scale power grid of that can operate independently or in conjunction with the main electrical grid of a certain area.

According to Energo Labs, its smart meters gauge the energy produced and consumed by every household in the microgrid, as well as the amount bought and solar between houses.

It will use a digitized public ledger of transactions, called blockchain technology, to carry out the buying and selling of energy through its mobile application, while ensuring all data is secure and transparent.

To ensure energy security, it proposes the creation of decentralized autonomous energy ( DAE) communities so that power supply can be produced anywhere and shared between consumers around the neighborhood.

“Decentralized ecosystems also minimize the prob- lems caused by large infrastructure, while allowing Energo Labs added.

The company said it currently uses microgrids with a storage system, enabling power producers, including those with solar panels, to sell their energy to their neighbors.

“This type of peer- to- peer ( P2P) energy trading, based on infrastructure that will be operated and maintained by the local community, opens up the energy market and allows areas to meet their base Labs explained.

Energo Labs noted about 17 percent of Filipinos today still have no access to electricity. Under the Department of Energy ( DoE)’s household electrification drive, the National Electrification Administration ( NEA) is targeting to energize 2.58 million households in the country, mostly in Mindanao.

It also cited the frequency of natural disasters in the Philippines, the vulnerability of the three major grids to damage, and the fact that generation sites are far from the load centers.

The company said it has projects underway in the country and will also be launching various undertakings in Southeast Asia, the Netherlands, and Korea.