Power Ledger to test solar power trading platform in Australia

Australian startup Power Ledger announced the start of a trial for its electricity trading software, allowing participants to buy, sell or swap solar power with anyone, at the Busselton Lifestyle Village.

The pilot project will help demonstrate the capability of the technology. The firm is working on plans for a second trial in the Perth metropolitan area, which is planned to take place in the first half of 2017. Australia energy provider Synergy and Western Australian Government's land and development agency LandCorp are all supportively involved in discussions on the second trial.

Power Ledger uses blockchain-based technology to identify the ownership of electricity as it is generated and manage multiple trading agreements. Thus consumers buy excess solar power directly from the original owner or producer, without the need for a middle man and without adding market costs and commercial margins.

“Just as Airbnb and Uber have up-ended the hospitality and transport markets, Power Ledger has the potential to change forever the way we buy and sell energy to power our homes,” said Power Ledger Chair Jemma Green. “The owners of excess energy can sell their surplus to their neighbours for less than the uniform tariff but more than they would get from selling it to their retailer,” he added.

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