NY Customers Bypassing ESCOs, REC Marketers In Favor of "Blockchained" Green Energy Swaps
July 05,2016
Move over ESCOs and REC marketers. Brooklyn, New York customers are purchasing green energy through "blockchained" transactions, NPR reports
Originally developed for crypto-currencies like Bitcoin, a blockchain is a "digital ledger" of transactions -- in this case green energy "tokens" that residents buy, sell and trade similar to RECs. The blockchain trading avoids the need to switch to a retail supplier, or even use third-party RECs aggregators, for customers to purchase "green" energy, as customers can purchase directly from local residents with excess credits on an online marketplace
What do you think of this practice? Is this the "Uber" (or moreso Airbnb) of the electric industry that "thought leaders" keep expecting? Let us know in the comments below