As I noted in a number of posts over the last few months, decentralization is a movement that is taking place in many different arenas. Being involved in cryptocurrency we can get caught up in what is going on with the financial arena. However, this is just a small portion of the many areas where this is taking place.
One enormous market is the energy market. This is a $4 trillion market and is only growing as people become thirsty for more energy. With the expected electrification of society, this market is only going to keep expanding.
Renewable energy is opening up a world of opportunities. This is enabling anyone with a rooftop, especially in a sunny climate, to become an energy producer. There is a drawback to this in that it opens up a one way distribution. The power creator sends the excess energy to the grid.
Battery advancement is now altering this paradigm. Now, instead of sending the power to the utility company, one can store the excess energy. This allows for use at a later time or, perhaps, in lieu of the grid when rates are higher.
This independent type system enables one to be "off the grid" while still be on it. At the same time, there is no need to be in the middle of the jungle to achieve this.
Another benefit, when this technology is coupled with blockchain, it is possible to set up a grid among a community of people. Thus, instead of the power coming from the utility company, individuals would transfer power among themselves. A cryptocurrency could allow for payments back and forth between the different households.
When it comes to this type of energy storage, one obvious company is Tesla (TSLA). This entity envisions having a complete system of solar roof, battery power, and electric vehicle. With a well known CEO, this is obviously a name to watch.
Another is a recent entrant into this field is Generac (GNRC). This company invested over $100 million buying up companies that will allow it to compete as a energy storage provider.
The quest for decentralized power is starting. Many utilities are looking at setting up microgrids in different communities so they can stay relevant. We are also seeing some traditional utilities turning to solar as a means of generating electricity. For example, Florida Power & Light is doing a 30 by 2030. This project is to install 30 million solar panels by 2030. It was an endeavor that was started a couple years ago.
With solar panels dropping by 90% over the past decade, we are seeing the cost of the "hardware" getting very inexpensive. There is no reason why this trend is not going to continue.
As more projects come online, it will further demonetize things across the board. When energy production drops, it allows for advancements in other areas since more power can be utilized.
This is just one way that exponential progress is going to be made by humanity.
None of this is financial advice
If you found this article informative, please give an upvote and resteem.
Posted via Steemleo