June 29 (Solar) – Energias de Portugal SA (ELI:EDP) announced on Thursday it has become the first to use blockchain technology to measure and record energy consumption and distributed generation (DG) coming from its consumers in Brazil.
EDP's new solution simplifies the process of managing the energy produced and consumed by its clients' solar arrays. The initiative is a partnership with the Austrian Riddle & Code.
The new system is a non-removable cryptographic tag that is attached to domestic energy meters to measure the co-consumption of each user. It facilitates transactions and calculations for charging and taxing, EDP said.
This project follows the introduction of Brazil's legislation on remote consumption of distributed energy, in which consumers can rent a quota from a solar plant that is not allocated on their land, the company noted.