Power Ledger, the popular blockchain startup firm, has entered into a strategic partnership with the Australian electricity wholesaler, Powerclub. This collaboration is expected to gear up the peer-to-peer blockchain energy trading platform in the southwestern part of the continent. This is, however, the first commercial deal that Power Ledger has managed to do to enable the Australian consumers to trade off the excess solar energy.
As part of this deployment process, several solar panels will be installed across a selection of strata units and apartments. These solar panels will provide the residents with renewable sources of energy and will consequently be booked into the Power Ledger platform. This collaboration will also allow the South West Australian residents to trade and sell off the excess energy that is generated from the solar panels to other residents who do not have access to electricity. Also, during the events of high or low consumption of energy, it can be traded with the users to compensate for the instant energy by using blockchain technology. This trade is likely to make electricity prices more affordable for users. Households can also become part of Powerclub by paying the minimum annual membership fee to get electricity at the wholesale prices.
The integration will enable the household batteries and other storage devices to connect to the Power Ledger’s grid. The power generated in the solar panels can then be stored in the batteries, which will, in turn, help the users to keep track of their electricity consumption.
Jemma Green, the co-founder and chairman of Power Ledger, commented on the future of this partnership and said,
The Australian Energy Market Commission has already flagged the need for grids of the future to become energy trading platforms. The future of the energy industry will be decentralized and democratized, like what we’ve seen happen to the taxi industry with rideshare apps like Uber and Ola.