According to the lead rates and regulatory strategy analyst at Duke Energy Corporation, the second-largest U.S. energy corporation is currently studying bitcoin mining. Lead analyst Justin Orkney said that a bitcoin demand response (DR) study was being worked on and the energy firm is partnered with bitcoin miners that are enrolled in Duke’s DR programs.
The Second Largest U.S. Energy Corporation Is Researching Bitcoin Mining
The latest “Bitcoin, Energy and the Environment” podcast with Troy Cross, called “Duke Energy is studying bitcoin,” features Justin Orkney, the lead rates and regulatory strategy analyst at the energy corporation. In the episode, Orkney and the podcast host discuss “bitcoin’s utility” and “really interesting opportunities” that pertain to energy demand response programs.
Basically, DR gives energy consumers the ability to operate the grid more efficiently by reducing or shifting loads. For instance, with bitcoin mining, by being able to “strategically locate miners on the system — There’s an opportunity to partner with these types of customers,” Orkney said. While a majority of the conversation details Orkney’s background in Solar and pilot studies on demand response, the analyst notes how bitcoin mining could be a powerful technology when it comes to DR components.
During the interview, Orkney stressed that some of Duke Energy’s (NYSE: DUK) customers were bitcoin miners. “We do have existing customers on our system,” Orkney explained to the show’s host. “They are voluntarily enrolled in our demand response programs. Those consist of basically agreeing to curtail usage at particular hours of the year when we call events.”
‘Bitcoin Mining Appears to Be That Really Powerful Demand Response Technology’
In the U.S., most of the infrastructure such as transformers and transmission lines are more than two decades old. DR programs can allow grid customers, some of which can be bitcoin miners, to help the utilities manage peak demand. Insufficient transmission capacity can be managed more effectively in order to make old…
Click Here to Read the Full Original Article at Bitcoin News…
