Volkswagen partners with Energy Web to leverage blockchain for energy storage

Alliance Blockchain Energy Web has partnered with Volkswagen Group Innovation to explore the integration of electric vehicle (EV) charging points.

Blockchain for environmental sustainability

In an effort to leverage blockchain technology for sustainable solutions in the automotive industry, the Energy Web Distributed Ledger Technology Alliance (DLT) has teamed up with VW Group Innovation.

Through sources Close to the subject, the partnership aims to use electric vehicle batteries for the storage of surplus renewable energy which can then be released into the main network when energy demand exceeds its supply.

Specifically, the announcement states that “end-to-end transparent participation in the electricity market for electric vehicles” is the goal of the partnership. Notably, participants will also include Electrify America.

For the uninitiated, Electrify America is a subsidiary of VW with over 500 charging sites in the United States. It was created by the German car giant as part of its settlement over the infamous VW Diesel scandal. At the time, the company pledged to invest $ 2 billion in zero-emission vehicle charging infrastructure.

While it is common knowledge that electric vehicles reduce emissions, their batteries can also be harnessed for another set of environmental benefits. With an increasing number of Distributed Energy Resources (DERs) such as solar panels and wind farms integrating into the electricity grid, energy sources are naturally becoming less consistent.

This happens because one cannot turn the wind or the sun on and off as one pleases. The key here is having the ability to balance the grid by having additional energy storage and EV batteries to match the bill.

Commenting on the development, Jesse Morris, CCO, Energy Web, noted:

“With this partnership, we want to accelerate electric mobility and deliver even more value to VE customers. “

Add:

“One of the solutions is to make it easy for electric vehicles to participate in energy markets. If we are successful, as soon as an electric vehicle comes out of a dealership’s lot, that car will be fully integrated into the region’s energy system. Customers can then be paid for their electric vehicles to help balance the network in near real time. “

In related news, BTCManager reported on how a major aluminum miner unveiled the launch of a blockchain-based solution dubbed START for sustainable aluminum sourcing.

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