Power Ledger launches blockchain-powered solar energy trading in Australia

Blockchain startup Power Ledger is rolling out a solar energy trading platform powered by blockchain technology in Western Australia. The firm has partnered with local developers in Perth and will roll out its platform in over 100 apartments over the next three years. It will allow the residents to sell their surplus solar energy to others seamlessly, incentivizing them to invest in green energy.

Power Ledger signed the three year deal with Nicheliving, the largest medium-density residential developer in the Perth Metropolitan region. The deal will see the company develop its platform for residents in Nicheliving’s SkyHomes apartments in Inglewood in the first phase. According to the press release by the two companies, SkyHomes has 62 apartments. It will then move on to roll out its platform in some other 40 apartments in East Cannington.

Power Ledger’s platform tracks energy consumption for the residents and enables them to sell the surplus solar energy to other residents. Using blockchain technology, the platform creates a localized renewable energy market.

Jemma Green, the co-founder and chairman of Power Ledger believes that her company is incentivizing homeowners to invest in renewable energy. She remarked, “We’re seeing an emerging trend of project developers considering more low cost and low carbon energy supplies during the design phase of their projects. Power Ledger’s platform incentivizes homeowners to invest in solar energy infrastructure.”

Nicheliving’s managing director Ronnie Michel-Elhaj reiterated Green’s comments, adding that Power Ledger “enables homeowners to lower their daily energy costs and unlock a new revenue stream by monetizing excess solar energy and reducing their reliance on fossil-fuel sourced power.”

Power Ledger has continued to expand, striking partnerships with multiple companies in Europe and Asia. In early April, it partnered with French green energy retail company ekWateur to provide green energy to 250,000 residents. EkWateur boasts of having a network of over 220,000 electricity meters in France, all which moved to Power Ledger’s blockchain platform. The two companies now give their users the ability to tap blockchain to certify the source of their electricity.

The company partnered with the largest state in India last year to launch a blockchain-powered peer-to-peer solar energy trading platform. The users who’ve installed solar panels in their properties get to track the energy trading, set the prices and settle transactions using smart contracts.