ENERGY COST IN EUROPE
Over the past few years, there has been an increase in the cost of energy in Europe.
As we can see from the two graphs shown below, apart from Hungary, Malta, Holland, Cyprus and Italy, where there has been a cost reduction, all other states have had a substantial increase in electricity costs.
Generally speaking, the price of electricity is characterized by the following costs:
– Expenditure on energy;
– Retail marketing;
– Energy transport costs;
– Expense system charges;
As can be seen from the graph, the cost of energy has an incidence of 50%, most of the costs are extra costs.
The Vectorium project aims to reduce the electricity bill’s cost by up to 50%.
HOW WILL VECTORIUM REDUCE THE COST OF YOUR ELECTRICITY BILL?
Although there is a trend, constantly increasing, moving towards renewable energies, photovoltaic panels, wind turbines have some rather obvious limits due to the non-continuity of energy production. In the absence of such elements, the systems stop and do not produce energy.
This is why it’s essential to manage and distribute energy efficiently following production rates. At this point, Vectorium cames in to safeguard the environment by integrating various sources of information coming from energy producers and end-users.
In Europe and more generally worldwide, the electricity network works as follows: electricity, produced by power plants and renewable sources, is distributed through pylons, control units, cables and meters to cities, industries and homes throughout the national territory.
The current distribution system is designed to work in one direction only; the energy flows move exclusively from the plants to the various peripheral nodes.
The distribution to consumers is continuous, and the flow of energy is always the same regardless of the quantity actually needed and consequently consumed.
If, in summer months, the energy produced by photovoltaic systems is much higher than what is actually consumed, than there is a waste of energy and often costs associated with the disposal of the latter.
The electricity grid that Vectorium aspires to be is “smart” and can connect producers and consumers. This is achieved by integrating the functions of an information network into the distribution network. In other words, the information will be taken in real-time from meters, measuring devices and other products and tools available to end-users (i.e. mining graphic cards etc.), to then rationalize and distribute the energy efficiently, avoiding overloads and voltage variations. (This could sound like a utopia).
Moreover, this smart network’s operation makes it possible to avoid electricity interruptions and reduce the load.
The first objective of Vectorium is to create small electricity production/sales consortia.
To facilitate the rapid exchange of energy, smart meters and blockchains will be used. The use of Vectorium flash (coin generated by the blockchain) will be used for energy exchange and significantly reduce energy price.
Vectorium flash production will always and only occur through a process called “mining”, where a fixed number of coins will be generated every day.
As part of a Vectorium Consortium, in addition to optimizing the production and sale of electricity, you will be able to benefit by using your own energy while mining Vectorium Flash using graphics cards and/or new FPGA devices.
More info at https://www.vectorium.co/