200 University Avenue West
Waterloo, ON N2L 3G1
Speaker: Vikram Singh, Director of Advanced Planning, Alectra Utilities
Distributed Energy Resources (DERs), including solar, energy storage, electric vehicles, and home energy management devices, can contribute to a more efficient, sustainable energy future. However, currently, the tools and processes in place in the industry to securely manage contracts, transactions, and settlements are not positioned to be applied to many small DERs and it would be prohibitively expensive to do so. A mechanism for practically, cost effectively, and securely managing the contracts, transactions, and settlement activities of many DER participants in near-real time is needed in order to enable DERs to contribute to grid services, energy markets, and provide value to consumers.
Vikram will be discussing how Blockchain can be used as the foundation for an end-to-end platform that facilitates contracting, compliance, and settlement of distribution level market services using DERs. He will explore the complexities of integrating the distribution side of the electricity markets with the wholesale transmission side, and how Blockchain can provide transparency and trust to parties managing distributed assets in real time. He will deliver a live demo of the “Spark” platform, a Blockchain enabled mobile app co-developed with IBM that allows customers to leverage their EVs, solar panels or battery storage systems to deliver real time energy services to the market. He will also discuss Alectra’s decision to compensate customers using a token-based value exchange system – effectively allowing for an open, market based exchange to trade energy for goods and services from any merchant throughout Canada.
The University of Waterloo acknowledges that much of our work takes place on the traditional territory of the Neutral, Anishinaabeg and Haudenosaunee peoples. Our main campus is situated on the Haldimand Tract, the land granted to the Six Nations that includes six miles on each side of the Grand River. Our active work toward reconciliation takes place across our campuses through research, learning, teaching, and community building, and is centralized within our Indigenous Initiatives Office.