Description
Project Title: Blockchain Technology For Energy Management
Research Paper: https://docs.google.com/document/d/10D-ioMzV-Od2LY3DhF68Wi5j1zNscvx1/edit?usp=sharing&ouid=113262927326420673970&rtpof=true&sd=true
According to statista.com
•In Africa alone produces , as of 2019, the total consumption from petroleum and other liquids in Africa amounted to roughly 4423 million barrels per day.
In Nigeria where we grew up, the Energy Commission of Nigeria says Africa’s largest economy spends up to $22bn annually on fuel for generators, according to Aljazeera news. You can see how much the world has changed, how heavy carbon emissions is destroying our atmosphere, we need innovations, we need economic advancements, we need technology but we cannot continue to drive on fossil energy or else in no distant future there will be no world to advance.
The greatest threat to our climate is pollution from harmful greenhouse gas emission, most notable carbon dioxide is leading the cause for climate change. And this as a result of trying to generate energy. The Energy that powers our homes, our cars, our Industries, Energy that powers our creativity, and we need and will always need Energy.
"School and university students all over the world are planning to take school strikes one step further and occupy our campuses to demand the end of the fossil economy."
This was the guardian press release on the 29th of July 2022 as students from colleges and universities in different states in the world begin a school strike against the strong pressure climate change is bringing to our ever changing world.
INTRODUCTION:
BLOCKCHAIN TECHNOLOGY
Blockchain technology makes the supply and distribution of green energy more efficient, flexible and transparent, which incentivizes the future of clean renewable energy. This technology provides secured and automated records that facilitate transactions between generators and consumers of energy, because of the immutability of the encrypted ledgers(records) this technology is a groundbreaking solution to remote monitoring of power grids and a tamper proof report of the microgrids performance in the advent of any fault. Blockchain provides security for remote performance analytics and other use cases, such as: Peer-to-peer electricity trading: Sell of excess renewable energy to other network participants through automated smart contracts .Blockchain technology for energy management can be a catalyst for business model and process change right across the industry. It could be instrumental to manage the sector's growing complexity, data security, and ownership. It is essential therefore that utility CIOs and business leaders understand the role that blockchain can play to revolutionize this industry.
RENEWABLE ENERGY
A dive into renewable energy focusing on how solar technology works
•Solar radiation is light – also known as electromagnetic radiation – that is emitted by the sun. While every location on Earth receives some sunlight over a year, the amount of solar radiation that reaches any one spot on the Earth’s surface varies. Solar technologies capture this radiation and turn it into useful forms of energy.
•There are two main types of solar energy technologies—photovoltaics (PV) and concentrating solar-thermal power (CSP).
•Photovoltaics Basics
•You're likely most familiar with PV, which is utilized in solar panels. When the sun shines onto a solar panel, energy from the sunlight is absorbed by the PV cells in the panel. This energy creates electrical charges that move in response to an internal electrical field in the cell, causing electricity to flow.
•Concentrating Solar-Thermal Power Basics
•Concentrating solar-thermal power (CSP) systems use mirrors to reflect and concentrate sunlight onto receivers that collect solar energy and convert it to heat, which can then be used to produce electricity or stored for later use. It is used primarily in very large power plants.
•Systems Integration Basics
•Solar energy technology doesn’t end with electricity generation by PV or CSP systems. These solar energy systems must be integrated into homes, businesses, and existing electrical grids with varying mixtures of traditional and other renewable energy sources.
About Us: Climate Hackerz creates blockchain assisted Intelligent Energy Management Solutions that monitors and predicts energy usage to balance the consumption and distribution of renewable energy to ensure the lowest levelised cost of energy (LCOE) possible.
With our work, we want to contribute to the fulfillment of the Sustainable Development Goals described in the UN Agenda 2030. This would also help Commercial and Industrial consumers of energy from variety of Industries to increase cost savings and energy efficiency while reducing their carbon emissions.
Problem Identification 1:
Germany's energy supply is heavily dependent on Russia, particularly with regard to natural gas supplies. This also applies to the industrial energy state of North Rhine-Westphalia.
Solution: There would be need for more citizens to go green by installing solar panels, although most people do not like to modify their houses which is one of the issue to getting them install solar panels, with the natural gas supplies being low, many people would ought for solar panels to aide their energy demands.
We will also Incentivize the use of renewable energies in companies and private households as well as concepts to encourage these actors to install solar panels on buildings and banking on many renewable energy projects while generating money from it through energy trading.
In the end all our solutions would make the energy supply more resilient and also better equipped for future crises.
Problem Identification 2: Nigeria's power grid collapsed twice in March and twice again in April this year, making the power generation on the system to fluctuate due to various concerns such as gas constraint, water management challenges, gas pipeline vandalism, among others.
Many solar energy projects in Africa fail because they lack proper planning and long-term government support and effective operations and management after installation
Solution: Therefore Tomorrow’s Grids have to be Digital
By putting intelligence into power transmission, digitalization offers huge opportunities to optimize today's energy system and make it more compact, efficient, smarter, faster – and profitable
Today, grid planning doesn’t happen without factoring in digitalization, 5G networks, IoT-technology, the ever-increasing number of sensors, cloud and edge computing, advanced analytics, intelligent cybersecurity – all of this gives us tools to build the grids of the future, including new business models.
Opportunity: Micro grid, off-grid installers, communities, farms and Government projects.
Business Model
Case Study 1:
A case study conducted in Germany found that the acceptance of renewable energy technologies in households was prejudiced by the household energy consumption levels,and the spatial issues as socio demographic variables,such as age,education,income,gender,etc.,werediscovered to be unimportant. https://www.mdpi.com/2071-1050/14/14/8370/pdf
Another issue that disencourage these actors to install solar panels and has caused lack of infrastructure for the wide penetration of renewables are household's attitudes and acceptance of renewable microgeneration technologies.
WIth our study we have gained understanding of some of the issues driving acceptance of renewables in households.
We learnt about occupant behavior and lifestyle,the main drivers and barriers for the selection of renewable energy sources,in order to shape the proper strategy for overcoming these barriers and ensuring faster penetration of renewables in households.
As several studies have proved that consumer intentions have a direct impact on the willingness to pay for renewables in households,we have to create solutions and measures targeting “barriers” or conditions that prohibit installation or acceptance of renewable energy systems
Case study 2: Five years ago, the Lagos state Government of Nigeria, launched a solar electrification project at the Onisowo village of Bishop Kodji-the first of its kind in the state.
The project was built to power water pumps, fish driers, and street lamps, giving the tiny fishing and boat-carving community's 5,000 residents easier access to drinking water, securing their sandy streets, and strengthening the oceanic island's fishing economy.
Things didn't go as planned.
"We don't know what's going on," said Azime Anthony, a traditional leader in Bishop Kodji. "It only worked for about three months, then it stopped. All the places where we are supposed to have light are dark and they never came back to try to fix any of it."
The solar system breakdown in Bishop Kodji is just one example of the failures that have typified energy delivery in Nigeria
/Challenges_facing_Solar_energy_projects_in_Nigeria_A_case_study_of_Lagos_State
BUSINESS MODEL
SWOT ANALYSIS
From our survey carried out, the advantage of out solution outweighed the disadvantages therefore, we know we can proceed with business and scale it on the long run.
Our
STRENGTH: Participatory methods promote greater efficiency, effectiveness and sustainability.
It promotes renewable energy engineers awareness and the production of a realistic action plan for micro-grid installers.
Incorporation of our services makes it an objective of the government to improve and protect the all micro-grid, mini-grid and renewable energy projects.
WEAKNESS: Inadequate equipment appears to have little control over the timeframe for our innovation
Financial constraints reduce operational capacity
OPPORTUNITIES: Increasing awareness and growing public pressure are demanding action to stop further environmental hazards
The aims of our organizational movement are to improve information disclosure and engaging various stakeholders in the process of managing micr-grids project and creation of efficient clean energy solutions
And
TREATS: Public disclosure of information and accountability are lacking
To learn more about our project, kindly check the attached documents on 'Assets'