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A prosumer is a generator and a consumer of energy. If you have a solar panel on your roof or a battery pack, you are a “prosumer”.
Blockchain is a specific type of distributed ledger. A distributed ledger is a database that exists across several locations or among multiple participants. By contrast, most companies currently use a centralised database that lives in a fixed location. A centralised database essentially has a single point of failure. However, a distributed ledger is decentralized to eliminate the need for a central authority or intermediary to process, validate or authenticate transactions.
There will be no difference in the flow of electrons, Sitigrid will merely mimic the flow of electrons with data.
If both of your energy suppliers connect you to the Sitigrid platform, this will enable you to buy energy from your neighbour, or from your family down the street, or anyone else who is selling it within the constraints that you set.
Greenwashing is where companies provide a fabricated or exaggerated statement about their environmental credentials. Consumers are often misled into believing a company’s products or services are doing more to protect the environment than they really are. Within the energy market, some suppliers buy cheap renewable energy certificates, and claim to be 100% green, when the reality is that they’re purchasing fossil fuels, which is effectively ‘brown’ electricity. This is greenwashing.
The Feed-in Tariffs (FIT) scheme was a government programme designed to promote the uptake of renewable and low-carbon electricity generation technologies.