The main goal of Eloncity is to solve a universal problem that affects everyone. Eloncity's project focuses on replacing traditional energy systems with the power grid infrastructure made up of millions of self-supplying micro-grids, and thus makes renewable energy widely available. at all hours of the day. This will address the imbalance in supply and demand for renewable energy, a hot topic in recent years.
But does Eloncity also generate renewable energy or do they only facilitate the transport? As of today there isn't enough renewable energy to serve everyone as far as I know and I think that still a lot of innovation is required to make it possible to live on renewable energy only in this world.
First of all, energy storage systems can store electricity generated during the daytime, and then users can use or sell it at night to avoid energy waste.
Secondly, ELONCITY wants to build a community DC microgrid using blockchain, with a community radius of about 1 mile (1.6 kilometers). The hope is to reduce the middleman in electricity sales and allow direct energy trading between families.
Thirdly, the community microgrid transaction network will be built on blockchain. With an artificial smart dynamic price adjustment system that can set prices according to supply and demand, the market mechanism would naturally guide users to choose off-peak hours for power consumption. The network medium of exchange is the Token ECT released by ELONCITY. Every community microgrid is like a side-chain network, and cross-community transactions need to go through the main chain.
That's a sophisticated approach but regarding renewable energy, is the long term goal that that is what is mostly traded on the Eloncity grid system?