Korea Electric Power Corporation (KEPCO) president and CEO Kim Jong-gap announced that it is pursuing the "KEPCO Open MG Project" to develop a blockchain-based microgrid called the 'Future Micro Grid.' For more information see the IDTechEx report on Distributed Generation: Minigrid Microgrid Zero Emission 2018-2038.
He said the KEPCO Open MG refers to an open energy community that combines the existing micro grid with digital technology such as energy solutions and blockchain. Previously, microgrids consisted mainly of small photovoltaics, wind power and energy storage devices. KEPCO Open MG, the new development, is equipped with a fuel cell as a power source.
By using power-to-gas (P2G) technology, the remaining electricity can be converted into hydrogen and stored, and it can be converted to electric energy through fuel cells when necessary. This will increase the energy independence rate and efficiency more than the existing microgrids, and it is eco-friendly because it does not emit greenhouse gas. It is expected to contribute greatly to the creation of a new business ecosystem and job creation by contributing to the building of the energy infrastructure of the upcoming so-called hydrogen economy.
Using blockchain, electricity can be traded between microgrids which removes the existing system connection bottleneck. Previously, the technical standards were different for each microgrid, but with interoperability becoming possible, the network operators, consumers, and related companies can all benefit according to KEPCO.
Currently KEPCO is carrying out verification and commercialization with electric power group companies, manufacturers and microgrid technology companies and plans to select provinces to take part this year.
President Kim said, "The three major trends in the future of the energy industry are decarbonization, decentralization, and digitalization. Through this project, KEPCO will show the speed of new and renewable energy generation and energy efficiency projects. We will take a step forward as an energy platform provider to drive energy conversion and digital conversion. "
Source: Korea Electric Power Corp
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