Nevada’s Utilities Agency Eyes Blockchain for Energy Credit System

The Public Utilities Commission of Nevada, a authorities company charged with supervising and regulating energy utility companies within the state, is trying to implement blockchain for its power credit score monitoring system.

The fee final month investigated whether or not a blockchain-based answer would assist observe and certify Portfolio Energy Credits (PECs) in a greater approach for assembly the state’s Renewable Portfolio Standard.

Renewable power producers in Nevada earn PECs that may be bought to utilities that then use them to adjust to the Standard. One PEC represents one kilowatt-hour of electrical energy generated.

“The current PEC tracking system, NVTREC, is becoming obsolete”, PUC Commissioner Ann Pongracz stated in a release on Tuesday, including that the “investor-owned NV Energy, the utility company that serves almost all of Nevada, no longer maintains the software and that is putting additional demands on commission staff’s limited time resources.”

There can be another monitoring system, the Western Renewable Energy Generation Information System, which is used within the Western Electricity Coordinating Council. But it has a threshold of 1 MW (megawatt), which, Pongracz stated, makes it “not well suited to providing the value of PECs to smaller generators.”

In an try to deal with a few of these shortfalls, the company’s Commissioner Bruce Breslow and its Chairman Ann Wilkinson have expressed assist for implementing blockchain expertise, however have additionally requested the workers to research various applied sciences as properly.

The Public Utilities Commission of Nevada is just not the primary authorities company to eye the blockchain expertise for higher power operations. In July, a bunch of 4 utilities together with the New York Power Authority teamed as much as research the potential of good contracts for the state’s energy system. The Arizona Corporation Commission has additionally began the investigation for the potential for blockchain expertise in its power sector.

Back in March, IT large Cognizant stated in a report that the utility area is evolving right into a distributed and good energy grid.

The agency additional set out the assorted blockchain-based (for permissioned, non-public ledgers) use circumstances – akin to power credit score administration, the promotion of inexperienced power, asset optimization, funds inside micro-grids, pay as you go good meters and funds to distributed era asset homeowners.

Solar panel picture through Shutterstock

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