What is the problem you are trying to solve?
Energy storage systems in houses are different from those in electric vehicles (EVs), with few bridges between the two types of batteries. Excess energy produced by a solar panel is usually sold to the grid through net-metering or feed-in tariff schemes, while EVs still rely on grid-connected charging stations. In effect, there is no simple way to get locally produced excess clean energy to electric vehicles that can use it.
How does your idea help solve the problem?
We are creating a decentralized energy exchange to facilitate transactions between small-scale energy producers (i.e. homeowners with solar panels) and electric vehicle drivers. Using blockchain technology, the platform enables EVs to identify renewables-powered charging stations while also tracking energy distribution and transactions. This solution allows for secure and transparent transactions without the need for an intermediary. As the price of electricity in most Asia Pacific countries is cheaper than the cost of fuel, such a solution can help encourage electric vehicle adoption. Allowing homeowners to sell excess electricity can incentivize solar panel take-up and energy saving measures.
What inspired you to do this?
Asia’s role in reducing the world’s carbon footprint will be imperative in years to come. What is most fascinating about Asia is the diverse socioeconomic standards across the region. Some cities are already en route to becoming “smart” while others are just electrifying and building infrastructure. Bringing our ambition to Asian cities will be a revolutionary for urban life, but also for societies and economies as well.
Bio
Lathika Chandra Mouli is an electrical engineer who is passionate about the intersection of technology, sustainability and urbanization. She was part of the inaugural class of NYU Shanghai, the first American college to receive independent registration status from China’s Ministry of Education. Lathika currently serves as a Project Specialist at Energo Labs, where she leads the acquisition and management of projects focusing on decentralized autonomous energy exchanges such as peer-to-peer, machine-to-machine, vehicle-to-microgrid , and virtual net metering.
