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Press Release21 November 2018Energy Management / Power Generation ServicesErlangen
Siemens joins Energy Web Foundation
Transactive energy applications will be a major force in the transformation of the energy sector towards decentralised, decarbonised and digitised energy systems, where distributed energy resources (DERs) such as solar, wind, stationary storage systems, electric vehicles, heat pumps and others as well as flexible loads are playing an ever increasing role. At the same time, new forms of plant and project financing are needed. Blockchain technology enables transactions in a decentralised network to be validated efficiently and securely. This enables new business models of energy and flexibility trading between consumers, prosumers, producers and network operators, taking into account user preferences and network restrictions. Ultimately, block-chain-based applications and business models could help increase the overall efficiency of future energy networks and enable new forms of asset and project financing.
Siemens is already using blockchain technology to help its customers develop new forms of energy or offers solutions and services for optimized control of energy generation and consumption. By combining microgrid control solutions and blockchain technology, operators of photovoltaic systems can, for example, feed excess electricity into the existing local grid and receive their compensation directly from the customers, i.e. their neighbors. To further develop this technology and the new business models based on it, Siemens is collaborating with New York start-up LO3 Energy in the areas of innovative microgrids and peer-to-peer energy trading platforms and is currently implementing its first project in Brooklyn.
More information on EWF can be found at: https://energyweb.org/
For further information on Division Energy Management, please see www.siemens.com/energy-management, on Division Power Generation Services please see www.siemens.de/power-generation-services
For this press release
@Siemens_Energy
@Siemens_Energy
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2018, which ended on September 30, 2018, Siemens generated revenue of €83.0 billion and net income of €6.1 billion. At the end of September 2018, the company had around 379,000 employees worldwide. Further information is available on the Internet at www.siemens.com.
Contact
Silke Federspieler
Siemens AG
Freyeslebenstr. 1
91058 Erlangen
Germany
91058 Erlangen
Germany
+49 174 1551579