Changing how the energy market works is quite a challenge to take on. But it’s a challenge we might see happening sooner rather than later, with companies like Enosi leading the way.
For this instalment of Women in Crypto, we sit down with Enosi’s Fleur Edwards to discover why she left her academic career to join the global blockchain energy revolution.
Solar panel usage is on the rise in Australia, as the sun-soaked country finally moves away from non-renewable energy sources. And it’s not slowing down. A recent report has estimated six solar panels are installed every single minute. Amazing right?
But now, as Australia reaches 2 million solar panels installed nationally, homeowners are looking to take a step further. They are now looking to gain an alternate source of income, by selling excess solar power directly to their neighbours.
From Academia to Disrupting the Energy Market
So how exactly will Australians sell their solar power without going through energy companies, providers or the infamous GRID? That’s where companies like Enosi come in, who are creating a peer to peer network for everyday Australians. We spoke to Enosi’s Director of Marketing Fleur Edwards to find out how.
We want to give communities a choice on where they buy their green electricity or where they sell it.
“It’s removing the old monopolistic power of energy,” Fleur explains. “Energy companies are creaming all this profit from Australian consumers.” And Fleur is part of a team who are trying to stop this.
Leaving what she describes as a secure job at one of Australia’s top universities, Fleur took the plunge and has since immersed herself in the blockchain revolution. And it certainly has paid off. Fleur describes her work as “invigorating” and beams with pride as she speaks about her role with Enosi. This has led to a “fascination” with blockchain technology, as Fleur is incredibly excited about how her work will impact everyday Australians.
“The energy market is so complex – it’s mind-blowing,” Fleur explains. “There are so many inefficient middlemen and profit seekers.”
The Nuts and Bolts: How Enosi Will Energise Australia
Using blockchain technology, smart contracts and what will be known as “smart metres”, Enosi is working to reverse traditional energy consumption. Instead of relying on energy companies, Enosi hopes to empower communities to purchase sustainable energy from each other, at whatever price they decide.
The energy market is so complex. There are so many inefficient middlemen and profit seekers.
“We want to give communities a choice on where they buy their green electricity or where they sell it,” Fleur says. “It’s a no-brainer.”
Enosi Announces Australia’s first #STO with bonus #UtilityTokens ahead of its November 2018 #MVP #energy trading platform release: https://t.co/zrQqxuo5Xo #STO #ICO #VentureCapital #investing #cryptocurrency #finance #crypto #blockchain #cleantech #RenewableEnergy pic.twitter.com/xUcpmjM9XP
— Enosi.io (@Enosi_io) October 15, 2018
Perhaps the most exciting aspect of Enosi is the opportunity it can provide for schools, local businesses or community centres alike. With these spaces not typically using power after 3:30pm or 4pm, solar energy can be sold back to the community as an alternate source of income.
This will be powered by blockchain; a technology offering price transparency, transaction history and accountability that no energy company to date can compete with.
The Energy Revolution and Enosi’s JOUL Token
Still not convinced? Projects like Enosi are already receiving a significant amount of attention from the Australian public. And with an estimated two million solar panels now installed in Australia, the popularity of services like Enosi is only growing.
“In the first week we started, there were 22,000 trades happening,” Fleur tells us. “It’s been amazing”. With similar projects already popular in places like Brooklyn and Perth, it seems peer to peer energy is going to be a big part of our future. And a very exciting part to say the least, as consumers will be empowered like never before.
Now, with the Western Australian government on board, this energy revolution is truly taking off. “There are 600 million houses in deregulated energy markets worldwide,” Fleur says. “So that’s the potential. It’s beyond Australia.”
Now, things are only going to heat up for Fleur and the Enosi team as they work to release their ERC20 token this year. This is a token on the Ethereum network, which users will need to access the Enosi platform. From there, everyday people can buy, sell and trade green energy on their own terms.
The JOUL token will be released later this year, and we’re excited about the promise of sustainable energy it holds. With someone as energetic and passionate as Fleur behind the scenes, we can’t wait for the energy revolution to boom.
It’s amazing what blockchain can do. To discover more real-life applications of this technology, check out how one phone company made the first blockchain phone call earlier this year.