Power Ledger and Powerclub use blockchain to trade energy resources
Sydney-based blockchain company Power Ledger has partnered with energy trading firm Powerclub to roll out its technology in South Australia.
Power Ledger said its software allows excess energy to be stored from solar panels and batteries in a" virtual power plant " Virtual Power Plant (VPP) for more efficient control and management of energy. Users will be able to act as a VPP themselves, selling excess energy at a time of increased demand for electricity.
The company is integrating its blockchain-based solution to trade Powerclub energy. Through the partnership, users will be able to reduce their annual electricity costs and buy it at wholesale prices. Such a system will allow Australians to independently control the amount of electricity consumed and avoid unnecessary costs.
According to the Power Ledger, this partnership agreement is the first large-scale implementation of the technology in the energy sector. In addition, in December, the company plans to implement its blockchain-based solution in the Kanto region of Japan.