TORONTO — Ontario’s Alectra Inc. has announced the launch of a new energy platform, GridExchange, through its Green Energy & Technology Centre.
GridExchange is a blockchain-based software platform that enables customers with distributed energy resources such as solar panels, battery storage and electric vehicles to participate in an energy marketplace with Alectra. The project is funded by Natural Resources Canada in partnership with Sunverge, Savage Data and FLO, an Aug. 19 release explained.
The three-month pilot program will involve 21 Ontario households across Vaughan, Markham, Barrie, Richmond Hill and Hamilton.
GridExchange customers who participate in various clean energy transactions will be compensated in cash and GxRewards, which are rewards that are redeemable at local merchants. Merchants enrolled in the three-month pilot include Pizzaville, Grand Tour Autospa, Chuck’s Roadhouse Bar & Grill, Marcolino Bakery and TruBliss Wellness & Beauty Spa.
“The GridExchange pilot project plays a pivotal role in supporting consumers by offering them greater control over their energy usage,” said Brian Bentz, president and CEO of Alectra. “In alignment with Alectra’s commitment to be net-zero by 2050, the launch of GridExchange will help us continue to lower emissions and create value for customers and the Ontario power grid.”
Alectra serves one million homes and businesses in Ontario’s Greater Golden Horseshoe area; Alectra Utilities is the largest municipally owned electric utility in Canada.