Japan's Mitsubishi Electric Corporation and the Tokyo Institute of Technology are teaming up to develop a blockchain platform to facilitate peer-to-peer (P2P) energy trading.
In 2012, Japan introduced feed-in tariffs (FIT) to boost renewable energy investment by allowing producers of solar and other renewable electricity to sell electricity to utility companies at a fixed price.
Mitsubishi Electric's system aims to enable P2P energy trading, allowing consumers (energy suppliers) to easily trade their surplus solar energy.
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