Hive Power provides anyone with the possibility to create and manage energy communities on the Ethereum blockchain
The goal of Hive Power is to create energy sharing communities where all participants are guaranteed to benefit from the participation, reaching at the same time a technical and financial optimum for the whole community. This is achieved by devising a (mathematically sound) market mechanism that incentives the participants to collaborate with each other, coordinating their production and consumption. In contrast to other energy exchange market schemes, the Hive Power platform takes also in account technical aspects, such as cables power rating and voltage limits in order to reach a multi-objective optimal solution. Hive Power is tailored to the current grid transition, enabling a safe and cost effective operation of the electrical grid by ensuring a fair and resilient energy market for all actors involved.
Hive Power develops a turnkey solution for the creation and management of local energy communities on the blockchain, providing an economic optimization for their participants by lowering their bills and valorizing their assets. In collaboration with meter producers, Hive Power is building a blockchain ready energy meter, which allows to safely tokenize energy. Differently from its competitors, in addition to the blockchain platform Hive Power also provides an efficient energy trading mechanism perfectly tailored to the use case of energy communities. The HONEY algorithm exploits customers’ flexibility to optimally match production and consumption, such that the community’s welfare is maximized and grid technical constraints are satisfied.
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