Power Ledger to Use Blockchain to Track Renewable Energy with Japan’s Sharing Energy Company
A blockchain enabled platform used for the peer to peer marketplace within the renewable energy sector, the carbon markets and the energy asset financing referred to as the Power Ledger has just announced a partnership they have gotten into.
A partnership that has been established to drive proper renewable energy trading to take place in Japan together with the Sharing Energy Co. This is a company that has been considered to be a leading provider when it comes to the provision and installation of solar energy.
More On The Partnership
The Power Ledger, a blockchain powered platform initially will be able to allow the Sharing Energy to track the renewable energy consumption easily. This will be from 100 pre-identified Sharing customers who are spread across Kyushu, Kansai, and Chubu regions.
The project has been estimated to grow to about 100 rooftops to about 55,000 rooftops; this is by the end of 2020. And from this, they are planning to sell to the consumers within the market but through the interested third parties or they could use the option of following the Sharing procurement of the retail license.
According to Dr. Jemma Green, who is the Chairman and the co-founder of the Power Ledger, they are really proud of the work that has been done so far in Japan, together with the strides they have taken in ensuring they are able to decentralize the use of energy across the world.
It is especially so from the increased efforts form the different leading companies within the market, the likes of Sharing Energy that has taken the necessary steps in embracing the new era in the use of renewable energy.
The partnership proves to be an exciting example of how the blockchain technology is able to make visions a reality; this is in the implementation of scalable and renewable energy solutions for their partners and the communities that are spread across the globe.
Power Ledger Has Some Exciting Projects
The program running from November 2012 for the proposed cuts to the Japan feed-in tariff, also referred to as the FiT, which was developed to incentivize the development of the renewable energy, has lead most of the businesses and power companies to embrace this type of energy innovation together with the renewed interest that is in the renewable energy initiatives.
It is important to note the Power Ledger has started working with one of the biggest electricity retailers that are privately owned in the country, the Kansai-Electric-Power Company, in the development of a Virtual Power Plant model. This model will be able to help Japan address some of their key challenges with the excess solar generations.
Together with accordance with the Paris Climate Goals, Japan has committed itself to increase the renewables and in turn, reduce the carbon emissions to about 26%, this is by the year 2030.
How It Is Expected To Work
For the deployment to effectively take place, the Power Ledger will need to provide a real-time usage data to the Sharing company, and on November the Sharing company will be able to use the peer to peer platform that has been established by the Power Ledger.
With the platform, it will be able to facilitate fair trading to take place between the buyer and the sellers in the market with the use of real-time data that will be gathered from the existing smart meters.
From this point it will go ahead and verify the scalability and the feasibility that is present for the P2P energy trading within Japan, and from here it will be able to allow the Sharing Energy company to efficiently conduct the needed research on the energy transitions that take place through the Power Ledger platform that has been blockchain powered.
Thus, this will allow the Sharing company to effectively utilize the clean and renewable energy within their social systems. The project they have gotten into with Sharing has just come off the heels of the other global partnerships that are involving the P2P trading.