Power Ledger Deploys Blockchain Peer-to-Peer Renewable Energy Trading Platform
Power Ledger, the leader in decentralized, energy trading platforms, and winners of Richard Branson’s 2018 Extreme Tech Challenge, announced the deployment of its peer-to-peer (P2P) renewable energy trading platform at licensed retail electric provider American PowerNet’s headquarters in Wyomissing, Penn. American PowerNet’s headquarters will use the xGrid platform to trade 35kW of solar power – garnered from both its office roof and carport – with neighbors connected in its office park to optimize clean energy for both carbon reductions and decreased electricity costs. The deployment furthers Power Ledger’s goal of enabling a decentralized energy structure that allows regular people to actively participate in the growth of the industry and be accountable for the impact of energy on the environment.
“Rather than just dump our excess solar power on to the grid, we’re thrilled we can now provide clean, sustainable power to our neighbors,” said Scott Helm, President of American PowerNet. “Power Ledger’s P2P platform will optimize the offering for all of the participants.”
The xGrid deployment is the latest U.S. project from Power Ledger and marks the introduction of its innovative P2P energy trading technology into the Pennsylvania-New Jersey-Maryland Interconnection (PJM), the largest U.S. wholesale electricity market. The deal was made through Power Ledger’s partnership with Clean Energy Blockchain Network (CEBN), who will provide local, hands-on technical assistance with the deployment. Past projects from this partnership include deployments with Silicon Valley Power in Santa Clara, Calif., and Northwestern University in Chicago.
American PowerNet plans to commence the deployment this month under the existing deregulation rules with the cooperation of the local utility PPL, utilizing their existing distribution system and connecting the solar assets by utilizing platform data from pre-existing meters without the need for additional hardware, software or engineering fees. “This type of structure can benefit all parties involved,” Helm stated, “and can be recreated in any deregulated territory where a business site has excess solar generation.”
“We believe the Pennsylvania-New Jersey-Maryland Interconnection is a key market where P2P can become mainstream, and this project illustrates the growing consumer desire to invest in clean, renewable energy,” said Power Ledger Managing Director and Co-Founder David Martin. “We are appreciative of CEBN for the opportunity to work with American PowerNet, a pioneer in helping customers cut costs and carbon, and a company aiding us in our mission to democratize energy, and provide cheaper, cleaner power.”
This American PowerNet deployment comes on the heels of Power Ledger’s recent announcement around its Asset Germination Event (AGE) token, a blockchain-based token that is designed to open up the renewable energy market to retail investors. The AGE token will also open new sources of capital for energy projects and uses blockchain technology to maintain a secure asset and income register, with a view toward developing renewable energy infrastructure across the world.