Tech

Solar Energy Trading Platform Being Developed by Singapore Start-Up Company

By Jerome V. , Aug 06, 2020 05:20 AM EDT
(Photo : Pexels)

A centralized power grid has become more expensive as days pass. Government agencies around the world find it challenging to install power stations in rural areas. This situation is the main reason why electricity is still a privilege and not a service that everyone enjoys today.

Things can change if a company from Singapore succeeds in its project to start a solar energy trading platform. Many are looking forward to this ground-breaking vision. It will give a more affordable source of electricity for many communities.

Sell excess solar energy

According to Singaporean energy firm Electrify, they are working on a project called Synergy. The project highlights a peer-to-peer (P2P) energy trading platform. It will allow owners of solar panels to trade or sell extra energy.

Many consumers and business people see this innovation as a good deal. Solar panel owners will decide on the rate. However, the company will assure that they are still fair and reasonable. Sellers should also comply with the standards set by the national grid of Singapore.

The platform also has advanced features. It includes a smart meter, which monitors real-time energy generation and usage. Traders can easily find their potential clients through the system according to their preferred rates.

Solar energy to energize the world

Singapore wants to light up 350,000 homes by 2030. The trading platform is one of the significant steps welcomed. It can spark a change for businesses to appreciate renewable sources of power.

In a statement, the National University of Singapore's Solar Energy Research Institute Head Tan Congyi said that this could lure many developers to go solar. If this happens, many can see the advantages of this energy source.

Moreover, Electrify Chief Executive Officer Martin Lim emphasized that Synergy is a development for all. It can also be the answer to some problems regarding renewable sources of energy.

"If you live on the sixth floor of an apartment HDB, you can't get solar power... then you forget about it, you move on. But now you don't have to forget about it because now it enters into the vernacular, enters into the conversation," the CEO said.

Likewise, the move to switch to solar is part of the progress of the energy field. The selling of electricity will be for everyone and not just for business people.

"This is significant, as it underscores the important role that solar energy will play in Singapore's long-term energy plans," Lim added.

Read more: Engineers Have Just Invented a Type of Hydrogel Material that Can Turn Overheating Gadgets' Heat into Electricity


The project is a partnership between Electrify, Seneko Energy, and ENGIE Factory. The project started its one-year pilot run as of writing. They will move forward with their next step if the first phase becomes successful.

Electrify aims to supply energy for more households and businesses until they meet their target number. They also hope to bring this technological advancement to various parts of the world. 

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