Electricity Trading System with Digital Power Dollar Conversion
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Solution Overview
Problem
Small entities, such as homes and businesses, are unable to trade excess green energy or sell it back to the industry, limiting the proliferation of green energy production facilities and hindering greenhouse gas reduction efforts due to constraints in electricity trading.
Innovation Solution
A physical power dollar trading system comprising a trading management host, trading point devices, and portable energy storage devices that enable electricity trading through wired or wireless connections, allowing conversion, management, and transfer of electricity into a digital currency equivalent to cash, facilitating trading among small entities and dealers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If small entities build green energy production facilities, then green energy production increases, but they cannot trade or sell excess electricity due to lack of trading mechanisms
Solution Approach 1:
The patent introduces a trading management host and trading point devices as intermediary components that enable electricity trading between small entities and the power grid. These intermediaries facilitate the conversion of physical electricity into digital power dollars and enable seamless trading operations, resolving the contradiction by providing the missing trading mechanism infrastructure.
Solution Approach 2:
The patent creates a digital representation (power dollar) of physical electricity that can be traded independently. This copying mechanism allows small entities to trade the value of their generated electricity without requiring complex physical electricity transmission infrastructure, enabling trading capability while maintaining green energy production.
2Reliability
If large enterprises monopolize the green energy industry, then industry stability is maintained, but small entities cannot participate and investment costs remain high
Solution Approach 1:
The patent segments the green energy industry into independent trading units (small entities) that can operate autonomously and trade individually through the trading management system. This segmentation allows small entities to participate without requiring massive centralized investments, reducing both investment costs and risks while maintaining industry stability through standardized trading protocols.
Solution Approach 2:
The patent changes the fundamental parameter of energy trading from physical electricity transmission to digital power dollar exchange. This parameter change dramatically reduces the complexity and cost of participation for small entities, as they no longer need to build complex transmission infrastructure, thereby lowering investment barriers while maintaining market stability.
3Adaptability or versatility
If regular homes and small businesses are constrained by electricity trading limitations, then green energy industry proliferation is hindered, but enabling trading requires complex infrastructure
Solution Approach 1:
The trading management host serves multiple functions: it manages power dollar conversion, facilitates trading operations, records transactions, and interfaces with the power grid. This multi-functional design consolidates what would otherwise require multiple separate complex systems into a single unified platform, enabling widespread participation while controlling infrastructure complexity.
Solution Approach 2:
The patent replaces the mechanical/physical system of direct electricity transmission and trading with a digital information-based system using power dollars. This substitution eliminates the need for complex physical trading infrastructure at the consumer level, as all trading operations occur through digital information exchange managed by the trading management host, thereby enabling accessibility while minimizing infrastructure complexity.
Data Source
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AI summary
Trading with power dollar in combination with portable electricity is provided. A system includes a trading management host (10) of an electricity bank platform, a trading point device (20) of at least one dealer, and a portable energy storage device (30) of at least one entity member. Connection established among the trading management host (10), the trading point device (20), and the portable energy storage device (30) allows for trading data to be transmitted therebetween, so that an entity member may conduct trading by using the portable energy storage device (30) and the trading point device (20) to purchase or sell electricity or to convert electricity into usable power dollar in a digital form for trading with other merchandise products, to thereby vitalize the green energy industry, allowing for effective utilization of green energy by all people to thus create sharing economic of the electricity market.