Power Ledger Report Suggest Its P2P Energy Trial is Ready for a Real-World Use

Partially funded by the Australian government, Power Ledger's successful trial and report find a potential for blockchain to enhance energy supplies.

Power Ledger, a blockchain startup focusing on energy conservation through blockchain and based out of Australia, recently concluded its trial run for a blockchain P2P project for solar energy trading and released a report for the same suggesting the trail was a success.

The study also revealed that the trial run has the technical feasibility to launch on a large scale for real-world use.

The trial run was initiated in December 2018 and was concluded in January this year under the RENeW Nexus Project (An Australian not-for-profit organization). The trial made use of Power Ledger's blockchain technology to trace the transaction for rooftop solar energy traded among households.

The peer-to-peer solar energy trading was partly funded by the Government of Australia, which surveyed 48 households in Fremantle, Western Australia. The outcome of the trial run found Ledger's p2p energy trading reduced the cost of energy consumption. Jemma Green, chairman of Power Ledger, commented on the newly released report and said:

“Power Ledger has demonstrated how peer-to-peer energy trading can incentivize the right outcomes for the grid in a more cost-effective way.”

Blockchain Can Offer Stable Power Grids for Lower Costs

Power Ledger, in association with Curtin and Murdoch Universities, published another report last month detailing the findings of the P2P trial run. The study concluded that the use of blockchain for P2P energy trading helps local energy markets to keep the power grid stable and offer electricity at a lower price.

The P2P energy trial run includes a study of distributed Virtual Power Plant (VPP), a microgrid with 650 kWh battery powering homes for the East Village development in Fremantle, a sustainable development project featuring green homes that only run on clean and green energy. An excerpt from the report:

“Participants had a positive view of P2P energy trading and could see its benefits but stated that changes to the tariff structure would be required to make it attractive.”

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James W
James is a cryptocurrency enthusiast, an advocate for the development and exposure of blockchain technology, and believes in the use of digital assets for the good of the society. Enthralled by the huge potential of cryptocurrencies and their underlying technology – blockchain – James dedicated himself to learn more about the industry, becoming a highly sought-after writer in the sector. He covers news, white papers and any content related to cryptocurrency and blockchain in general.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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