The TransActive Grid is a new local electricity generation initiative run by Lo3 Energy and Bitcoin developer ConsenSys. The project aims to help more people power their homes by relying on their neighbors rather than traditional utility companies.
The TransActve Grid is a micro-grid project that is currently underway in Brooklyn, New York. To facilitate energy-trading between neighbors, five homes are equipped with solar panels that generate electricity. Neighbors can then purchase this energy when the other homes don't need it. A blockchain network acts as a middleman in order to seamlessly manage the transactions between households.
While the initiative is currently being run on a very small scale, the project demonstrates how blockchain-based micro-grid technology could help communities reduce their dependence on traditional utility companies.