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Blockchain-Powered Power Ledger To Trial Solar Energy Trading In Fremantle

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Australian blockchain-powered energy trading company Power Ledger will conduct a trial for letting households in Fremantle, Western Australia to set their own electricity prices to be traded with neighbours who do not have solar.

The renewable energy marketplace, created by Power Ledger's platform, will enable Fremantle residents to set their own prices and trade solar energy generated from their rooftops with neighbours in real-time.

The residents will be able to view electricity usage in 30-minute intervals, instead of knowing the usage in the 30-60 day billing cycle.

The peer-to-peer energy trading trial will give access for consumers without solar power infrastructure to local, low-cost and low carbon energy. This phase of the trial will run until the end of the year.

The trial is conducted in a joint partnership between Curtin University, Power Ledger, Synergy, Western Power, and energyOS and was originally due for completion in June 2019.

For the trial, the company said 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.

In the first phase of the trial, the transactions of rooftop solar energy traded between 18 households in Fremantle was being tracked using Power Ledger's blockchain technology since November 2018.

Power Ledger has processed almost 50,000 transactions on its platform per month and tracked over 4 megawatt hours of peer-to-peer renewable energy trades since then.

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