Sitigrid is a peer-to-peer trading platform that facilitates local energy markets. Enabling ‘prosumers’ to optimise the sale of excess renewable energy, creating efficiencies in the energy distribution system and allowing energy consumers to buy locally produced renewable energy at reduced prices.
Sitigrid will focus on the deployment of our distributed ledger solution to log and monetise every kWh of energy generated or consumed, creating an immutable ledger of generation and usage, enabling improved monitoring and settlement of real zero-emission energy.
Currently, individuals and companies are dissuaded from installing renewable energy generation due to high upfront costs and the limited benefits of selling excess electricity back to the grid. Sitigrid enables 'prosumers’ to optimise the monetisation of excess energy production, increasing the benefits of micro-generation, leading to increased adoption, and viability of local energy networks.
The UK electricity market has always favoured large national energy suppliers and large generators, which Sitigrid want to challenge. We believe that this can be done by establishing equitable local electricity markets using our distributed ledger digital platform.
Throughout the energy industry, strategy is centred around Decarbonisation, Digitisation and Decentralisation. Sitigrid have developed a centralised digital marketplace which will help to facilitate decentralization, and decarbonisation.
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