Brooklyn residents campaign for Local Energy Microgrid 'sandbox'

NEW YORK, Oct. 21, 2019 /PRNewswire-PRWeb/ -- Brooklyn residents have launched a campaign via Change.org to turn the Brooklyn Microgrid into a fully functioning Local Energy Marketplace, in a bid to help progress New York City's Reforming the Energy Vision (REV).

The Brooklyn Microgrid (BMG), which has been run by LO3 Energy as a test project since 2016, was the first network to transact energy using blockchain technology and demonstrated the feasibility of sharing energy from distributed energy resources (DERs) such as solar panels.

Regulations that enforce constraints on energy production have so far prevented individuals and small businesses from actually buying or selling energy between each other but a regulatory 'sandbox' could make that possible.

Adrienne Smith, the BMG's new Executive Director, said: "The Brooklyn Microgrid and its participants are huge supporters of Governor Andrew Cuomo's Reforming the Energy Vision (REV) for New York to generate 50% of its electricity from renewable resources by 2030.

"We believe that this goal is both imperative and achievable, and that the Brooklyn Microgrid is a tangible and scalable solution for attaining Cuomo's goal."

LO3 Energy recently released a report, following a year-long analysis of energy trading on the Latrobe Microgrid in Australia. That test project demonstrated how local energy marketplaces can financially benefit both consumers and prosumers (solar panel owners).

The results of the project showed users saved 6-12% on their energy bills, while prosumers who bought energy but also generated and sold it with their own private solar panels, could generate 18-37% more revenue from their energy sales.

Smith's first order of business is launching a Change.org campaign to get permission for a regulatory 'sandbox' which will allow the BMG to operate as a commercial entity in the Borough Hall, Bay Ridge, and Park Slope areas of Brooklyn, NY.

If given the go-ahead, the fully functioning Local Energy Network will demonstrate how New Yorkers could solve future energy demands by allowing residents to buy/sell locally generated, renewable energy from/to their neighbors.

"Local energy networks provide a wide range of benefits. They can help grid operators balance supply and demand for electricity, they can provide consumers with greater choice and cheaper energy, and they can prevent blackouts from extreme heat or snow storms," added Smith.

"To make this happen, and to show how New York's energy could be sourced in the future, all we need is Governor Cuomo to say 'Yes' to our campaign request and the network is already installed and ready to go.

"We encourage all New Yorkers to support local energy networks by signing our Change.org campaign. As a unified community, we can lower consumer energy costs, meet the state's REV goals, and positively affect our environment in one fell swoop."

More information about Brooklyn Microgrid's Change.org campaign can be found at: http://chng.it/4KBL4NNTsf

About Brooklyn Microgrid
Brooklyn Microgrid (BMG) is a benefit corporation, started in 2015 by LO3 Energy. BMG's purpose is to implement marketplaces for locally generated, renewable energy that are powered by Exergy, a blockchain platform specifically developed for energy transactions. For more information about Brooklyn Microgrid, visit http://www.brooklynmicrogrid.com.

About LO3 Energy Inc.
LO3 Energy Inc., a Brooklyn, NY based company, is building a blockchain-based platform to enable decentralized business models and innovative technologies related to energy, cleantech and utility systems. The LO3 team has deep expertise in design, architecture, development, prototyping, and testing of cutting-edge distributed energy, computing and peer-to-peer distributed consensus networks. The company builds blockchain-based tools and projects to support and accelerate the proliferation of distributed energy, utilities and computation sharing economy of the future. For more information about LO3 Energy, visit http://www.LO3energy.com.

About Change.org
Founded in 2007 by Ben Rattray, Change.org is the world's largest platform for social change. With more than 200 million users in 196 countries, people use Change.org's tools every day to transform their communities - locally, nationally, and globally.. For more information about Change.org, visit http://www.change.org.

SOURCE Brooklyn Microgrid