Copy link
Increase text size
Decrease text size
Link copied

Blockchain-based energy trading platform Power Ledger to launch pilot program in New Delhi

One of the leading companies in blockchain-based energy trading is bringing its expertise to New Delhi and will launch a pilot program allowing communities to harvest and sell power via peer-to-peer.

Image: Unsplash

Wed, 27 Nov 2019, 07:25 am UTC

The blockchain-based energy trading platform Power Ledger is currently on the path of building its foundation in India, specifically in New Delhi. The company is collaborating with BSES Rajdhani Power Limited (BRPL) to push the initiative forward and introduce a peer-to-peer power trading system that will accelerate the adoption of renewable energy, an announcement read.

New Delhi has been chosen as the subject of the pilot program due to its encompassing solar power policy. A suburb will be used as a subject for the pilot program that already has solar panels installed. This project will initially cover 5-6 megawatts worth of solar power.

Previously, gated communities that have solar panels installed on their rooftops would sell their excess energy to the main grid through net metering. With Power Ledger in the picture, however, these surplus supply of power could be sold to other communities that are willing to buy them.

An incentive to be green

Through this system, households that are participating in this micro-grid setup can actually make money if they are producing energy more than they’re consuming. This encourages people to be more in control of their energy consumption as there’s a financial incentive involved. In turn, the power demand from the power grid is decreased and it’s able to handle the peak hours through the aid of these power-harvesting communities.

Power Ledger is one of the pioneers in this new way of harvesting, consuming, and trading power, with their expertise covering blockchain and clean energy technology. BRPL means to expand its partnership with Power Ledger if the pilot program proves successful.

Power Ledger taking root

“Realizing the importance of distributed generation, we have already built an extensive renewables infrastructure, and this trial with Power Ledger will help us fully utilize that energy. Basis the outcome, BRPL, and Power Ledger will expand the trial to include Blockchain-enabled solutions for Group Net Metering, Virtual Net Metering, EV Charging and Virtual Power Plant applications in the near future,” said Amal Sinha, CEO of BRPL.

In the U.K. and the U.S., the same power evolution is happening where communities are also being used to harvest and trade energy at a competitive rate. These micro-grids can even sell their harvested renewable energy to companies at a competitive rate.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,434.21 (+0.99%)
  • Ethereum (ETH) $163.26 (+1.65%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $322.59 (+3.21%)
  • Bitcoin SV (BSV) $269.91 (+1.92%)
  • Bitcoin (BTC) $8,434.21 (+0.99%)
Jan 24, 2020 (Friday)
12:24
Ripple CEO Brad Garlinghouse hints at the possibility of IPO
11:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:50
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:37
Japan ruling party lawmakers to propose digital yen in February: Report
11:00
Hackers becoming more sophisticated as crypto exchanges bolster security measures: Chainalysis
10:24
Crypto Technicals: XRP/USD slips below 21-EMA, more weakness to follow
10:23
Tether launches new stablecoin backed by physical gold
09:49
Crypto exchange ErisX partners with Etale to offer new trading features
09:23
World Economic Forum launches blockchain-based supply chain traceability platform
08:17
Crypto Technicals: LTC/USD holds above 51 mark, finds strong support at daily cloud
07:36
Liechtenstein's Financial Market Authority approves ethereum-based real estate tokenized fund
06:57
Greece to extradite alleged BTC-e operator Alexander Vinnik to France after supreme court ruling
05:26
Agribusiness blockchain initiative Covantis selects ConsenSys as technology partner
04:44
Crypto exchange Binance invests in blockchain startup Numbers
04:24
Crypto Technicals: ETH/USD holds above 21-EMA and cloud support, further weakness on charts
04:23
Indian IT firm Mphasis to develop blockchain privacy-enhancing tech solutions with QEDIT
04:04
Crypto Technicals: BTC/USD extends weakness, eyes next major support at 110-EMA (8134)
Jan 23, 2020 (Thursday)
13:26
Amun lists inverse bitcoin ETP on SIX Swiss Exchange
12:32
World Economic Forum creates framework to help central banks design and deploy CBDC
11:52
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft