Greeneum Solution to Energy Challenges
Introduction
The energy industry, despite its
transformational growth in recent years, still faces several challenges that limit optimized and efficient production of green energy. The principal issues in the energy market include:
Unreliable and Wrong Predictions
We can trace the primary challenge in the energy industry to the inaccurate forecasts and predictions of renewable energy production. When there are unrealistic or excess projections for energy experts and professionals on the probable consumption of generated energy over a period against the actual consumption of energy by users, there tend to be huge losses incurred by the production companies, energy grid operators, and energy grid firms. Resources put into generating the assumed needed demand of energy predicted by forecasts tend to go to waste. These unreliable predictions cause most energy producers to incur excess losses and limit their efficiency.
Insufficient Energy Production
This is another notable challenge in the energy system. Existing producers of renewable energy experience certain challenges that cause their energy production to be below par. Several reasons could cause manufacturers not to deliver on the required amount of power that meets the customers’ consumption level. Some of these challenges may include lack of required infrastructure, inadequate production funds, lack of efficient equipment, government policies, and others. Unreliable forecasts can also be a cause of producing below maximum capacity, as companies are working to avoid manufacturing excess energy that will incur more costs and lead to losses.
Exorbitant Consumer Costs
Consumers are often the burden bearers of the inefficiencies in the energy production processes. The manufacturing companies that experience losses during the production of energy often increase the billings charged to customers. These companies factor all the incurred costs and losses when calculating the energy billings for the consumers and most times the latter is unaware of the exorbitant bills they receive. There is no method of traceability and efficient management using a value chain to measure the accurate energy billings. With these happenings, customers have difficulties paying for such excess bills for little consumed energy.
Existing Poor Infrastructure
Another significant issue in the energy industry is the unavailability of proper infrastructure to enable adequate production of energy. The existing infrastructures and equipment in most energy-producing companies are in debilitating states; such that they do not efficiently generate the required amount of electricity. Most of this equipment leads to loss of energy in its excesses and makes it difficult to control or eliminate the energy waste.
Lack of Intelligent Systems
There is an existing issue in the optimization of the production and distribution of green energy. The current centralized system of operation in most companies does not deliver a smooth and efficient system in manufacturing and delivering the generated energy to consumers.
Greeneum Solutions
The main existing problems in the energy marketplace hinges on the distribution and optimization of generated energy and Greeneum is offering two features that will resolve the issues – decentralization and improved value chain. Using a decentralized system, powered by blockchain technology, Greeneum offers smart contracts to eliminate the losses incurred in distributing energy and optimize the energy networks. The value chain creates a platform that connects all stakeholders within the energy market and makes the flow seamless and efficient.
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AUTHOR'S DETAILS
Bitcointalk Username :Borderescape
Bitcointalk profile link:https://bitcointalk.org/index.php?action=profile;u=2768312