• Days
  • Hours
  • Mins
  • Secs
  • Tue, 17 Sep 2019, 09:07 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

Blockchain energy startup Power Ledger extends energy trading trial in Fremantle

Fri, 23 Aug 2019, 05:04 am UTC

Australian blockchain energy startup Power Ledger has announced its energy trading trial in Fremantle, Western Australia is heading into the second phase.

The trial, which was launched in November 2018, involved using Power Ledger’s blockchain technology for tracking rooftop solar energy trading transactions between 18 households in the city. So far, the platform has processed almost 50,000 transactions per month and tracked over 4 megawatt hours of peer-to-peer (p2p) renewable energy trades.

“Power Ledger’s platform has created a renewable energy marketplace, enabling Fremantle residents to set their own prices and trade solar energy generated from their rooftops with neighbours that don’t have solar,” said Power Ledger executive chairman Dr. Jemma Green.

Dr. Green said p2p energy trading has the potential to deliver several benefits to the energy marketplace including more choices for customers on how they manage their power use and access to local, low-cost and low carbon energy, among others.

The trial is a collaborative initiative which also involves participation from Curtin University, Synergy, Western Power, and energyOS. It can be recalled that the Australian government announced A$8 million grant to a project to explore the use of blockchain technology and data analytics to integrate distributed energy and water systems in 2017.

Power Ledger said that by using Western Power’s existing network with Synergy’s customers, its platform enabled households to buy and sell excess rooftop solar energy in real-time. The platform also allowed residents to view electricity usage in 30-minute intervals, instead of the 30-60 day billing cycle.

“Western Power’s smart meter data was fed into Power Ledger’s blockchain trading platform and then exported to Synergy’s billing system, to ensure a secure and accurate recording of the energy trading,” it added.

The trial was slated to be completed in June 2019. The second phase, which will run until the end of the year, will aim to gain a deeper insight into consumer preferences and to test additional pricing models. The key focus will be on exploring how to overcome the challenges to support mass adoption of peer-to-peer tariff structures in Western Australia.

Power Ledger’s SaaS energy trading platform is currently deployed in several places across Western Australia as well as in Thailand, Japan, the United States, and Europe. Just recently, it completed a 5-month trial with Kansai Electric Power Co. (KEPCO), the second-largest utility in Japan, demonstrating the benefits of their P2P system for post- FIT (feed-in tariff) surplus power in Osaka.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $10,222.40 (-1.34%)
  • Ethereum (ETH) $198.74 (+2.19%)
  • XRP (XRP) $0.265600 (+1.10%)
  • Bitcoin Cash (BCH) $308.65 (+0.27%)
  • Litecoin (LTC) $72.98 (+2.28%)
  • Bitcoin (BTC) $10,222.40 (-1.34%)
Sep 17, 2019 (Tuesday)
Crypto Technicals: Ethereum pauses shy of $200 mark, set to extend bullish momentum
Harbor tokenizes iCap Equity’s $100M real estate funds using ethereum blockchain
Crypto Technicals: BCH/USD fails to extends weakness below 200-DMA, retrace above will see upside resumption
Women in Leadership: Publicis Sapient hires Merril Lynch veteran Priya Bajoria as SVP Financial Services
Crypto Technicals: IOT /USD forms successive Dojis at cloud resistance, dents scope for upside continuation
Crypto payment services BitPay to roll out Ethereum support in the coming weeks
Blockchain food provenance platform OpenSC secures $4M in seed funding
Australia's REIQ partners with Igloo to develop blockchain-based tenancy agreements
Crypto exchange OKEx Korea to remove all privacy coins, including monero, dash, zcash, over FATF's 'travel rule'
Aventus unveils new ticketing protocol Aventus Classic and $15K prize for blockchain developers
C4IR UAE, World Economic Forum introduce blockchain accelerator program at Dubai's Area 2071
Sep 16, 2019 (Monday)
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
HTC’s blockchain smartphone Exodus 1 adds support for Bitcoin Cash
Crypto Technicals: DASH/USD capped below 50-DMA, 'Bullish Divergence' keeps scope for upside
Crypto Technicals: LTC/USD breaks above 21-EMA, scope for further gains
ConsenSys enters decentralized finance ecosystem with new product suite ‘Codefi’
Kaleido Blockchain integrates QEDIT Zero-Knowledge Proof Enterprise Privacy Solution
Crypto Technicals: ETH/USD extends 21-EMA breakout, pauses shy of 55-EMA, bias bullish
Canada-based Bull Bitcoin latest to join Blockstream’s Liquid Network
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.