1 December 2016
The power to trade electricity will soon be in the hands of every roof-top solar panel owner.
Australia’s first blockchain powered residential electricity trading market is to be launched in Perth today.
Perth-based global leader in peer-to-peer power trading, Power Ledger, has installed its world-leading energy-trading platform at White Gum Valley’s Gen Y home creating Australia’s first residential electricity trading market.
Residents in this development can now trade the electricity generated on their rooftop, and stored on batteries in their garage without the need for an energy retailer, said Jemma Green, co-founder and Chair of Power Ledger. Perth is leading the way in transforming the global renewable energy market, she said.
The residents of the multi-unit development, constructed as part of a Curtin University-led research project, will now benefit from the installation of rooftop photovoltaics (PV) and battery storage even when they’re not home to use it.
Power Ledger is all about people power: everyday people harnessing the energy of the sun on their rooftops, and effortlessly trading it with their neighbours via our world-leading technology, said Ms Green.
Power Ledger’s trading platform enables residents and building owners to benefit from their investment in rooftop photovoltaics, even when they’re not home. When someone is not using their share of electricity produced they can sell their share of the energy produced to their neighbours maximising the value of their investment, she said.
Power Ledger has successfully trialled its technology in Busselton, is working on a 500-site trial in Auckland with New Zealand’s largest electricity distributor, and has signed a number of other exciting projects it will unveil in the New Year, including a large-scale project expected to have many thousands of participants.
More about Power Ledger
The Power Ledger system uses blockchain technology to allow residents to trade electricity amongst themselves at a price greater than available feed-in tariffs but lower than residential retail tariffs, providing an incentive for more developers to install rooftop PV on strata-titled developments.
The peer-to-peer trading system allows property owners and residents to access the benefits of rooftop photovoltaics in a clear and transparent way, generating significant savings for electricity customers, and maximising the value of investments in sustainable energy infrastructure.
It’s our hope, that through adopting the Power Ledger system, consumers and businesses will be able to participate in the roof-top solar revolution, drive down resident power bills and contribute to the reduction in greenhouse gas emissions, she said.
Media Contact: David Martin, Power Ledger managing director, +61 (0)427 981 415
Power Ledger Pty Ltd is a Western Australian company and a global leader in blockchain-based peer-to-peer energy technology.
More information about WGV and Gen Y by LandCorp can be found here:
Peer to peer energy trading to be trialled in NZ
New Zealand energy and technology company Vector, and Australian blockchain energy company Power Ledger signed an MOU to deploy Power Ledger’s energy trading platform, allowing people to buy and sell power without using an electricity retailer.
Vector Chief Executive Simon Mackenzie says the trading platform allows consumers to trade surplus energy from solar panels and batteries directly with each other.
This arrangement empowers consumers to better manage and profit from their energy supply and demand.
Power Ledger co-founder and chair, Jemma Green believes that this kind of commercial deployment heralds the beginning of a new paradigm for energy markets globally.
Power Ledger is simply about using technology to enable the safe, sustainable and sensible trading of energy between producers and consumers. We are excited to be working with Vector to put the power of energy trading in the hands of every day New Zealanders.
The trial is planned to get underway in December 2016 across up to 500 sites across Auckland, including schools, community groups and households.
This is a natural extension of our exploration of new technologies with the emergence of a new electricity network that offers consumers greater choice and control over the sources of energy they use, he says.
Under the trading platform people can negotiate directly with each other depending on their supply and demand.
Even people without solar panels could buy power from their neighbours, Mr Mackenzie says.
This exclusive transaction is another milestone for Power Ledger, Vector is a perfect large scale partner for us in the sunny Oceania region Ms Green added.
Power Ledger are the global market leader in peer-to-peer energy trading, using encryption and Blockchain technology to allowing residential and commercial users to better manage their demand and supply needs by making the most of solar panels, batteries, peak loads and other factors such as weather forecasts.
Media contact for Vector
Acting External Communications Manager
+64 21 518 459
About Vector: (www.vector.co.nz) Vector is New Zealand’s leading multi-network infrastructure company which delivers energy and communication services to more than one million homes and businesses across the country. Vector is listed on the New Zealand Stock exchange with ticker symbol VCT. Our majority shareholder, with voting rights of 75.4%, is Entrust (formerly Auckland Energy Consumer Trust). For further information, visit www.vector.co.nz
Power Ledger to Launch on EcoChain
When Power Ledger launches later this month it will be the first application to store its energy readings on Ecochain, the world’s first low energy, eco-friendly blockchain.
Powered predominately by solar energy, Ecochain uses the latest Proof-of-Stake mining which by design uses a fraction of the energy consumed by other proof-of-work blockchains.
With it’s fast block-time Ecochain was purpose built for high-volume transaction applications. Further security and data integrity is provided by leveraging off the BTC blockchain using tangle technology developed locally by Ledger Assets.
A simpler form of Smart Contracts which protects against coding errors is also available.
Perth Company to put power in the pockets of electricity consumers
People in Perth and the south west may soon have the power to buy, sell or swap excess solar energy with anyone connected to the Western Power network, if trials commencing today prove successful for Perth company Power Ledger.
We’re all electricity consumers, and many of us are now electricity producers with roof-top solar panels, said Power Ledger Chair Jemma Green
Power Ledger will enable producers and consumers to trade their energy directly saving money, hassle and maximising the use of clean, green, solar energy.
Power Ledger is tapping into the massive disruption of energy markets happening all across the world, but particularly here in Perth. The dynamics of electricity production, distribution and trading are changing: Power Ledger will enable consumers to play a more direct role in these processes, and have more control over their electricity production and consumption than ever before.
For many consumers, the decision to put solar panels on their roofs wasn’t just about saving money or saving the environment; it was an investment decision. The ability to now sell their excess energy to other customers represents the return on their investment, she said.
Just as Airbnb and Uber have up-ended the hospitality and transport markets, Power Ledger has the potential to change forever the way we buy and sell energy to power our homes said Ms Green
Power Ledger uses blockchain-based technology to identify the ownership of energy as it is generated and then to manage multiple trading agreements between consumers who buy excess solar direct from the original owner/producer all without the addition of market costs and commercial margins.
The owners of excess energy can sell their surplus to their neighbours for less than the uniform tariff but more than they would get from selling it to their retailer, Green said. “Effectively, we’re cutting out the middle-man to save consumers, and to maximise returns for producers.
It’s a win for the people who have been able to afford to invest in roof-top solar, but also a win for customers who haven’t: they will be able to access clean, renewable energy at effectively a wholesale rate. Everyone wins, said Ms Green.
The benefits of distributed renewable energy will flow on to those who, at the moment, can least afford to participate; we think that’s pretty special, she said.
Power Ledger has signed an agreement with National Lifestyle Villages to trial the technology at their Busselton site where there is a good mix of consumers with and without solar panels.
National Lifestyle Villages is excited to work with Power Ledger in the trial of their energy trading software at our Busselton Lifestyle Village. NLV is proud of our commitment to the environment and to providing affordable and sustainable lifestyles for over 45’s. Our Busselton Lifestyle Village is home to a very passionate, progressive, and environmentally aware community that is known for taking the initiative and being innovative in order to achieve positive environmental outcomes. The Power Ledger trial will help to demonstrate the value opportunity created through solar energy, and we look forward to better understanding how solar, battery storage, and smart energy technology can deliver positive outcomes for NLV, our clients, and the environment. Says Steve McGill, sustainability manager from National Lifestyle Villages.
The pilot project with Natonal Lifestyle Villages will help demonstrate the capability of the technology with plans for a second trial currently in development for a site in the Perth metropolitan area, scheduled for the first half of 2017.
Synergy and LandCorp are all supportively involved in discussions on the subsequent trial.
More information about NLV can bee found here: http://www.nlv.com.au/
+61 (0) 427 981 415
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