Energy trading software company Power Ledger has launched the first trial of its blockchain-enabled peer-to-peer (P2P) technology outside of a metropolitan area, with participants including local shires and farmers in Western Australia. If you aren't asleep yet, what that means (and why it is so important to you) is that Power Ledger are a company who literally help you buy or sell electricity directly to your neighbour. The company software manages the trading of power among households and businesses without having to buy through the energy retailer.
Just supposing you have solar panels on your roof that generate more electricity than you need. This might be every day or just some days. If you have the option of feeding your excess power into the grid, you might choose to sell it to the energy company for whatever they are prepared to pay you. Across Australia, where the option exists to sell power to the grid, you will receive around 0 - 8 cents for every kWh of power you 'sell'. For perspective, you buy power from your energy company anywhere between 15 - 35 cents per kWh. The power you use could be generated in a number of places across Australia, using green or brown power. Now, you can choose to sell your excess energy directly to your neighbour.Obviously you can't just pack up your power or your battery and pass it across the fence to your neighbour. Your power gets next door via the grid. Using the Power Ledger system, you still feed your power into the grid, but instead of selling it to the energy company, you choose to sell it directly to your neighbour.
If you choose to sell to your neighbour, you both agree on a price and you manage usage through the Power Ledger platform. Through the platform, you can literally trade excess power with your neighbour in real time and monitor your usage in 30 minute intervals.
Power Ledger is conducting a number of trials in Western Australian and around the world. They recently announced a regional Australian trial sharing power among the Wongan Visitor Centre, Shire Offices, Council Swimming Pool, Medical Centre and other commercial premises.
"SUSTAINABILITY AND ENERGY EFFICIENCY IS VITALLY IMPORTANT IN RURAL AREAS WHERE COMMUNITIES TRULY UNDERSTAND THE NEED TO BE SELF-SUFFICIENT. THIS ALLOWS US TO USE THE GRID MORE EFFICIENTLY AND REDUCE THE COST OF ENERGY FOR EVERYONE – THIS IS A MAJOR UPSIDE TO OUR RESIDENTS,” ACCORDING TO SHIRE CEO.
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.