Daylight’s testnet will allow users to plug in distributed energy devices such as smart thermostats, solar inverters, batteries, electric vehicles and chargers and energy monitors.
Daylight Protocol has secured $9 million in a funding round led by a16z Crypto, with participation from Framework Ventures. The funds will support the platform’s development for distributed energy devices.
The protocol wants to tackle the growing demand for electricity with decentralized energy generation. According to the International Energy Agency (IEA), global electricity demand will increase by 3.4% from 2024 through 2026, influenced by the rising adoption of electric vehicles and heat pumps and the expansion of data centers.
“The IEA estimates we need $600 billion of annual new grid investments to support net zero and energy security targets,” Daylight co-founder and CEO Jason Badeaux told Cointelegraph. According to him, distributed energy resources could free up critical energy capacity on existing grids without trillions of dollars of new infrastructure.
