How Power Ledger Is Paving The Way For Solar Power On The Blockchain
In an interview with Dr Jemma Green we got all the inside goss on peer-to-peer energy trading and how Power Ledger is paving the way for solar power on the blockchain.
We’ve all heard the stories of friends and family selling their solar power back to the power companies for a slight reduction in the power bill. The power companies then on sell this privately generated solar power to another customer for their own gain. Often the energy generated has to travel quite a distance before it reaches its final destination. The result is a lose/lose situation where the energy company loses energy and the seller either loses money or makes little to no profit.
Power Ledger removes the power companies who act as middleman and allows solar panel owners to sell their energy to their neighbours and community.
Thus the energy has a very small distance to travel. Using peer to peer energy trading, by using your solar panels and the power ledger platform, you can sell your excess energy and get paid as soon as your neighbour receives the energy.
While completing her PHD, Dr. Jemma Green found that apartments in Australia had no access to renewable energy. Dr Jemma then decided to embark on the journey of solving this problem. One of the first things she did was develop the hardware which was a battery system so people in apartments could trade energy between themselves. The second step was the software, which is where blockchain technology stepped in allowing the peer to peer trading.
Power Ledger’s technology is now being trialled in the City of Fremantle after a government grant of $2.5 million.