Grid+ has now made it possible for residents of Texas to pay for their bill with either Ether or DAI, with more cryptocurrency availability in the future. Check out their beta program and what's to come in the near future in the above link.
This is really cool. Their vision of charging current wholesale + a markup is brilliant. When that goes live this is a significant use case for house owners (because big electricity bills). It is enough of a use case that I think there’s going to enough of a market to support an installation service with people coming out to you and help you get set up.
So homeowners don’t have to do anything other than learn how to refill their crypto wallets every once in a while and then save $50 a month (or whatever) from then on.
It will make sense even to people that have zero interest in crypto.
I checked the karma of every commenter on this thread, and two accounts ([**u/CryptonalysisBro**](https://www.reddit.com/user/CryptonalysisBro/) **and** [**u/bambamlabam**](https://www.reddit.com/user/bambamlabam/)) have Karma under 500. Every other account has super high karma. Most accounts have 10s of thousands of comment karma.
It's well know that grid plus have an army of shill , we are only 200 on our subreddit (community driven) ......
Dev don't even allow us too talk about token price on their official Telegram and don't seek Token listing as they refuse almost most of proposition that they have (for now ) .....
I didn't check the karma or the age of the account of precedent post but if their was an "Army" of shill as a token holder i would be glad ahaha but i don't think there is ... sry bud ... and sry Grid holder ... :(
Lets say you're an average person and have little knowledge of crypto. Just figuring out how to get a wallet and move money to it is hard enough. The easy way is using a credit card(at least last time I bought), most people pay power bills with a credit card already so you just added a fuckton of complicated steps. By the time the customer goes to pay with his crypto, the price has fluctuated enough that he must again add funds to his wallet. Total nightmare for a newbie.
Ok so say you're a long time holder. You tend to acquire more crypto over time, not spend it. You have little incentive to get rid of any and if its a significant amount, you fear security risks. I'm generalizing, but the majority of holders aren't super knowledgeable and most trying to use this as a mellinal version of stocks.
So that leaves the small party of crypto users that actually care about it and actively buy with crypto to support and grow adoption. This is a very small number of people local to Texas. Just saying.
The person that stands to win here is a day trader from Texas, he's pretty much getting power for free. If this idea was nation wide then I would be impressed but everything has to start somewhere I guess. I wish it luck but the state of things I see this being under utilized as hell
> The easy way is using a credit card(at least last time I bought), most people pay power bills with a credit card already so you just added a fuckton of complicated steps
There's limit to what Credit Cards can do - crypto lays groundwork for state chanels, which can enable real time payments, and later full acces to real time market with prices adjusted dynamically depending on production and demand
> You tend to acquire more crypto over time, not spend it.
This is kinda moot argument since we have dollar pegged stable coins like DAI and USDC - they offer both technological advancements, and stability of regular cash
> This is a very small number of people local to Texas
We can expect availability to improve - Texas is just first deployment
> most people pay power bills with a credit card already so you just added a fuckton of complicated steps
It's why power bills payement with credit card is here too , the post creator don't showcase "crypto guys" like us that we can pay with our Visa or Mastercard .. just read the article god dammit .
First paragraphe of the Article " We are going live with competitive rates and will accept both **ether** and **DAI** **(as well as ACH and credit cards) for payments**. "
I know that Midnight have kindly respond to you , but i will not , do your own research about grid plus and why they use blockchain .
I'm not here to "shill" the project to you nor than explaining it .
But when i see ppl wich are not even reading the article and commenting(shitposting) about i'm pissed off .
The project isn't just about accepting crypto for payments, that could be done with a central portal that converts and pays bills. I linked to a really brief intro the project I wrote up above [here](https://www.reddit.com/r/GridPlus/comments/ad5yyz/welcome_to_rgridplus_introduction_overview_links/) but [their main site](https://gridplus.io/) is probably the best jumping off point.
So, why crypto? Most of the reason is what's going on under the hood which consumers don't have to understand or care about - it lets them circumvent expensive legacy payment systems. Short time interval payments via payment channel means the company isn't accruing liabilities for customer debts and chasing bad debt expense which is a costly part of running a traditional utility. The Lattice1 is linked to customers' smart meters via Zigbee and is actively searching for and selecting the best wholesale rates and applying a fixed markup, which is far cheaper for consumers than traditional fixed rate plans which typically build in as much as 100% markup to cover admin costs and cover their profit margin in case of wholesale rate fluctuations.
So the value proposition is straight forward: what they're doing behind the scenes saves money and that's all a consumer has to care about. A regular customer just needs to plug in the box, link up their phone's payment app, and they're good to go.
And yes, they will be selling cheap traditional plans to customers that don't have internet access, because if they're already a licensed retail electricity provider, why not get that additional revenue if they can beat incumbent firms on pricing?
In terms of energy, The Lattice1 will do a lot more than just pass through cheap wholesale rates - optimizing home power consumption via connected devices and creating passive income streams if the household or business has solar and/or a home battery.
To facilitate all this they built the first next gen hardware wallet from the ground up. Among many other things, it facilitates things like subscriptions and permissioned payments, so, coupled with all of its connectivity the platform will enable crypto based micropayments with all kinds of connected devices.
Grid+ is also a trojan horse for real world crypto usage. Electricity customers who have never heard of Bitcoin or Ethereum will end up with these in their homes just because it saves them money, but crypto nerds end up with a hardware wallet that does far more than an old fashioned devices like a Nano X or Trezor and get a tamper-resistant crypto vault that does out of the box hardware multi-sig and more.
The closed alpha stage had around twenty live customers and the next step was supposed to be a closed beta stage with 300 customers beginning this month but instead they did a surprise early public launch today. There was a waiting list for the beta, but beyond that pool it's now a matter of seeing what the demand is.
There will still be a separate round of testing for the Lattice1 hardware before they begin shipping in Q2.
Yeah, that will be dependent on the hardware rollout in Q2 - I think that's when it starts getting really interesting, but this is still a milestone. This is a bridge to get to that point and allows them to test out all their backend systems integration with a broad base of live customers instead of just the twenty-something early alpha participants.
They will also continue to offer some fixed plans for like this as an alternative to those who won't use a Lattice1. On [their Telegram](https://gridplus.io/telegram) I asked what kind of customer wouldn't want a Lattice1 if it was bundled in for new customers and they pointed out that there are plenty of electricity customers out there who don't even have wifi who might choose Grid+ just because their traditional plans are the cheapest option.
GRID gives you the wholesale rate on electricity when you redeem it. it was essentially a discount to wholesale electricity sold at 80 or 90% off. Now, like the rest of the crypto market, it's way down in fiat terms. So the market is currently pricing the discount as pennies on the dollar.
Edit: i should've said that i think this is more like a standard retail product. the wholesale rate with GRID is coming soon. this is more like an alpha release.
disclosure: Grid is a spinout of ConsenSys, and I'm part of ConsenSys. i also own some GRID tokens bc i bought them in the sale. I'm friends with the founders and think they are doing cool things. don't shoot me if i got the details wrong, but i think everything above is mostly correct.
GRID is still in place as intended, as a utility token that can be redeemed for the privilege to purchase up to 500kw/h of electricity at wholesale cost. Based on that the current market price of the token is vastly lower than its value in electricity.
The redemption of GRID has begun but I would say it's not yet clear how new customers will go out and seek GRID for their own. It only trades on a DEX and most people probably won't want to mess around with a DEX unless they're already into crypto.
The team has been careful (rightfully so) to ensure the token is only a utility token and not used for speculative or securities type activities.
Just to add to this, GRID is not required to be a Grid+ customer, but it makes the service far cheaper - it provides 500kWh of energy passed through directly at wholesale cost without markup. Customers can pay their bills with DAI, ETH, eventually BTC, or traditional methods like credit card or automatic bank withdrawal via ACH. Right now that and GRID redemption happens through the payment portal at [GridPlusEnergy.com](https://gridplusenergy.com/). You can see how many tokens customers have redeemed and burned so far [here.](https://gridplus.io/grid-token)
In the first phase of this rollout customers are billed via the portal via monthly plan options. Next quarter the Lattice1 hardware wallet will ship. At that point customers can handle everything right from there with payment and crypto management via the hardware wallet or the mobile app on your linked phone. The mobile app should have a widget to buy GRID directly with crypto.
I put together [a overview of the project here](https://www.reddit.com/r/GridPlus/comments/ad5yyz/welcome_to_rgridplus_introduction_overview_links/) along with some links for further detail.
>How hard will it be to move into new markets?
In August the team published [an in-depth 93 page market expansion report](https://gridplus.io/assets/market_expansion.pdf) that assessed potential additional U.S. markets. Regulatory issues vary widely from state to state and there are additional considerations like smart meter market penetration.
As an external observer watching the PUCT licensing process it appeared to be long, complicated, and expensive but they got there so my impression is that it's no small undertaking to launch in new states but it's something they have the expertise and resources to accomplish. However, the Oncor and Centerpoint regions of Texas have a a potential customer base of millions so it's the perfect proving ground for the technology and they want to focus on being a success there before considering expansion.
The other potential outcome is that, should Texas prove to be a success, other domestic or international firms will license the hardware and software stack and implement it themselves. The team has stated that if this happens there will be a requirement to accept GRID for discounts.
>Any chance of future partnerships with large Solar companies?
>People put solar and batteries on vacation homes
The Lattice1 passes through the best wholesale rates, but I don't think it's actively choosing power by generation type. It might be possible but how all that works on the back end is beyond the scope of my understanding. What it can do is manage power generated by homes and businesses via solar or wind; when coupled with a battery the Lattice1 will automatically sell the power back to the grid at the optimal time so the owner earns as much as possible and this also serves to make the existing grid more efficient by smoothing out demand response.
Eventually they plan to implement automatic energy arbitrage to create a passive income stream for home battery owners that have a Lattice1 - the system would buy and store power when when rates are low and sell it back during peak times for a profit.
There are four levels of service involved in getting your energy to you:
1. Generation: large scale production of electricity
2. Transmission: high voltage network that moves electricity over long distance to distributors
3. Distribution: movement of high voltage power to low voltage lines connected to consumers
4. Retail: buys from distributors and sells directly to consumers
Grid+ Texas is a licensed a retail electricity provider (REP) and in the CenterPoint and Oncor regions those companies handle the transmission and distribution. What Grid+ does is get consumers access to wholesale rates from these firms. Once the Lattice1 ships that unit will automatically scan for the best rate available and always pass that along to the consumer.
I know Texas has a lot of wind power priced very competitively with dirtier energy. Are there going to be options for Grid+ customers to selectively choose the cheapest renewable energy rates even on occasions where it might be a bit more expensive than non-renewable sources?
Electricity customers in Texas can sign up now at GridPlusEnergy.com and pay their bills in ETH or DAI (or via traditional methods if you're into that sort of thing.)
In the first stage of the roll out customers will have access to fixed rates plans and can redeem GRID for an additional discount. In Q2 the Lattice1 hardware will ship which will allow access to short time interval wholesale rates plus a fixed markup.
In the following part of the year integration with smart home devices like Nest thermostats and smart plugs for pool pumps begins so that the Lattice1 can optimize energy consumption in response to real time electricity rate fluctuations.