TECHNOLOGY
OVERVIEW
Figure 1 displays the key
technology building blocks of Eloncity Decentralized Energy Architecture
(EDEA), an ecosystem of decentralization technologies and crypto economic tools
to enable the shared regenerative energy economy. The modular design
facilitates tailored deployment of Eloncity microgrid for diverse communities
around the world. An optimal Eloncity configuration would be a direct current
(DC) microgrid serving customers within a one-mile radius. This microgrid uses
the DCBus Scheduler to manage the power flows in the community. The shared
resources in an Eloncity microgrid would be locally generated renewable energy,
and the equipment such as BESS, PV arrays, small wind turbines, electric
vehicles, DCbus Schedulers and other decentralized renewable energy assets.
Eloncity microgrid
resources sharing help to maximize asset utilization rate and accelerate the
return-ofinvestment of the assets. The blockchain exchange platform, or the
Eloncity Token Protocol (ECTP), functions as the open and secured public
accounting ledger. This ledger would track the transactions of community
resources sharing and the sources of delivered electricity, renewables or
fossil fuel. The ECTP is an enhanced Ethereum blockchain platform that supports
high-volume high-speed transactions. The ECTP smart contract equitably
allocates the cost-benefits based on where and when the shared resources are
used. To support optimal local energy supply and demand, Eloncity’s artificial
intelligence (AI) technology and community network10 provide real-time
information on local energy pricing to participating community members to aid
in informed decision making. Each community member can set his or her own
purchase prices for needed energy, and sales prices for the excess energy. The
design’s objective is to optimize localized energy supply and demand in
real-time. For microgrids that cannot satisfy their own demand with locally
produced renewable energy, they can import energy more cost-effectively given
that their energy demand is stable and predictable. A microgrid that continues
to rely on imported power to meet their demand is called transitional
microgrid. While a self-sufficient microgrid is a long-term objective, the
transitional microgrids can dramatically reduce the operational cost of
existing centralized grids in the near-term and help to reduce cost-burden to
the ratepayers. Additionally, Eloncity Model includes a crypto utility token,
Eloncity Token (ECT), to facilitate local energy exchange and incentivize investment
in battery energy storage system (BESS) for storing newly harvested renewable
energy, as well as creating an open global marketplace for renewable energy
products and services.
ELONCITY
TECHNOLOGY BUILDING BLOCKS
CRYPTOECONOMIC FRAMEWORK
In centralized grids, the
utility uses time-of-use (ToU) retail energy rates to influence customer energy
consumption behaviors. However, the existing ToU rates are generally coarse,
lacking real-time locational information of the supply system and customer
demand conditions to effectively optimize energy demand and supply. These
retail ToU rates are rudimentary with simple on-peak and off-peak prices based
largely on central planners’ approximation of future supply and demand. The ToU
rates apply uniform pricing to all customers within each customer class across
the entire service area, regardless of the supply and demand condition at
customer sites. Even the sophisticated energy wholesale markets, such as
California, rely on dayahead data for the system supply and demand planning.
The results of the existing approach to balance energy supply and demand are a
highly inefficient oversized system and costly reserved generation capacities
that stand idle most of the time. On the other hand, Eloncity Model uses a
cryptoeconomics framework to help determine a granular real-time locational
energy price for optimizing the energy supply and demand at an individual
customer level.
The recent innovations in
blockchain technology and cryptoeconomics engineering designs have enabled the
development of Eloncity energy exchange platform that combines high-speed
community network with intelligent hardware, software and crypto utility
tokens. The Eloncity energy exchange platform supports an open and secure
energy exchange network for efficient real-time machine-to-machine energy
exchange. The Eloncity microgrid will be covered with a network of sensors to
detect real-time energy generation and consumption. Additionally, the Eloncity
Model uses AI algorithm to predict the elasticity of local energy supply and
demand, determine fair local energy price, and issue real-time market price
signals to customer-BESS for automatic energy export or import energy based on
customer preferences. The overarching goal is to use the real-time equilibrium
price signals to automate exchanges of local renewable energy amongst customer-owned
energy assets (i.e., dispatchable loads, energy storage, renewable generations,
etc.).
Real-time dynamic pricing
is a highly effective tool to optimize elastic energy supply and demand. Like
many commodities, power producers will export more energy into the network,
through previously stored energy or increased power generation capacity, when
the price is high. At the same time, energy consumers will increase energy
consumption when the price is low. As shown in figure 4 below, there is an energy
price equilibrium that balances power supply and demand at any point in time
and a given grid network.
Eloncity’s proposed
locational real-time energy pricing framework tackles the foremost challenge of
geospatial and temporal mismatches of renewable energy supply and energy demand
throughout the existing grids. The Eloncity Model integrates intelligent
networked BESS, local renewable generations, local power flows management
system with an open and secured exchange network to attain optimally balanced local
renewable supply and customer demand in each microgrid. The Eloncity Model also
incorporates incentive designs for fully automated real-time inter- and
intra-microgrid energy exchange.
DECENTRALIZED
ENERGY STORAGE
Decentralized renewable
resources such as solar PV or windmills produce energy intermittently and thus
cannot be counted on as reliable primary energy supply. However, optimally
coupled local BESS, management of customer energy demand (e.g., not running the
clothes dryer during a period of no renewable energy production or running said
clothes dryer during periods of excess renewable energy production), and the
local renewable generators, intermittent renewable resources can be transformed
into firmed, reliable, dispatchable and valuable power. The DCbus Scheduler
harmonized EDEA’s key building blocks (i.e., cryptoeconomics, blockchain energy
exchange platform, real-time locational energy pricing, highly efficient
bidirectional energy network, BESS, etc.) to maximize asset utilization rate and
create attractive revenue streams for coupled BESS and local renewable
generations. Additionally, customers who purchase ECTP-compliant BESS, such as
the POMCube NetZero, will receive ECTs as the financial incentive for using
their BESS for storing newly harvested renewable energy and help to smooth out
the local energy supply-demand.
These ongoing revenue
opportunities, ECT incentives, together with efficient asset utilization would
transform BESS and renewable generation assets into attractive investments. The
Foundation believes energy storage can become investment grade assets as their
return on investment outperforms the fixed income investments.
On an Eloncity microgrid,
the BESS helps smooth the local energy exchange by providing the critically needed
ingress and egress buffer on the customer premise. The BESS energy demands, and
thus contributes to local grid stability and mitigates the needs for costly
standby capacity services of the typical centralized grid system. For
transitional microgrid (i.e., microgrid that does not have sufficient local
energy generations to meet local demands), the BESS also enables these
microgrids to import energy at predictable and stable levels. During peak
demand periods when the imported energy is not adequate to fulfill the local
demands, the BESS will discharge to fulfill the deficit capacity thus allows
the microgrid to maintain energy imports at a constant rate. The predictable
and stable energy import levels would be important for the microgrid operator
to negotiate for more competitive power purchase price. Similarly, during
periods of low demand, BESS goes into charging mode to absorb excess local
renewable energy production. BESS power absorption helps to prevent
intermittent power injection into the local grid and minimize grid disturbance.
In summary, BESS plays the critical role on an Eloncity microgrid as an energy
buffer to facilitate more stable and optimal energy supply-demand ecosystem.
The current EDEA employs
two different BESS - one runs at 358.4Vdc to 428.8Vdc and the second system
operates in the range of 1200Vdc. The lower voltage BESS are primarily deployed
on customer sites, while the high voltage BESS is designed specifically for
Baseload Service Providers (BLSPs). The higher voltage BESS allows the BLSPs to
transport electricity around the Eloncity microgrid with minimal losses, while
the lower voltage BESS is more suitable for customer electronic appliance and
equipment that typically operates at voltage levels below 400 Vdc. The
overarching design strategy for both BESS is to minimize the required
conversion circuitry on the power control system (PCS). EDEA adopts the single
stage DC/DC or DC/AC converter whenever possible so that each BESS would
achieve at least 95% conversion efficiency. The DC/DC converter, between DCbus
and BESS, will reach 99% conversion efficiency because the DCbus-BESS interface
voltages are maintained at the same level.
To maximize battery cell
life, all BESS are protected by Battery Management System (BMS) that prevents
the battery cells from overcharging, over-discharging or overcurrent (short
circuit). Because of high voltage design, the discharging current is usually significantly
lower than the battery cell’s design limits. Therefore, the Eloncity BESS
design has significantly longer product useful life cycle compared to the
typical battery system that uses low-voltage design.
ELONCITY’S
TARGET MARKETS
The potential markets for
the Eloncity Solution would be areas that are being served by fossil fuel and
nuclear powered centralized grid, or areas that lack electricity services.
Eloncity’s market penetration strategy intends on providing full turnkey
solutions in areas that lack electricity infrastructure, while simultaneously
offering tailored Eloncity solutions to incumbent utilities to address the
chronic challenges facing the existing centralized grids. The restructuring of
existing utility regulatory regimes is not prerequisite for the success of
Eloncity market transformations.
During the initial market
development phase, the Foundation will focus on disaster-prone and rural areas
because these areas: (a) either have no electricity services or most vulnerable
to electricity service disruptions, which would benefit the most from the
Eloncity Model; (b) typically lack the local capacity to plan and create the
safe, secure and sustainable energy future; and (c) are hard-to-reach and
underserved communities. With a more reliable, secured, affordable decentralized
renewable energy system, Eloncity microgrids aid underserved communities in
rural areas to join the mainstream economy.
Concurrently, the
Foundation will collaborate with utilities in dense urban areas to provide the
Eloncity Model to address pockets of constrained service areas on the
centralized grids. During periods of high energy demands, the congested areas
do not have the adequate T&D capacity to import needed electricity to meet
the customer’s energy needs reliably. The traditional solution would be costly
grid infrastructure upgrades and re-commission fossil fuel or nuclear power
plants. On the other hand, Eloncity Model produces renewable energy locally for
local consumption thus negating the need for costly upgrades of the centralized
grid infrastructure.
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