Honda and GM are planning to explore using electric car batteries for smoothing power in smart grids using blockchain, according to the
Nikkei Asian Review. The study is part of the Mobility Open Blockchain Initiative (MOBI) standards body, where both auto companies are members.
Smart grids use power generated by renewable sources such as solar and wind power. Plus they often involve storing power from the grid during off peak periods for later use. The aim is to price electricity based on demand so off peak power should be cheaper.
However, the batteries to store the off peak power are expensive. Hence, using a car battery is cost efficient. Additionally, if the power is stored off peak and released back to the grid during times of peak demand the battery could become a revenue earner.
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