Infrastructure Problem: Renewable Energy From microgrid can be wasted due to inefficient data and demand
Solar panel owners get a small return for feeding excess power from their roof back into the grid, which power companies then on-sell at a much higher price. Peer-to-peer trading overhauls the system by opening up the market to allow households to buy and sell solar energy without a power company, trading their energy for more than the feed-in tariff while still undercutting power providers for buyers.
Power Ledger has developed software which reads the outputs of electricity meters and can therefore measure the amount of energy that is consumed or generated. Power Ledger is a blockchain-based peer-to-peer energy trading platform enabling consumers and businesses to sell their surplus solar power to their neighbours without a middleman.
Those two pieces of information are then recorded on the Blockchain and used to move energy from one person to another via a unit called ‘Sparkz’, which is a digital representation of energy. The buyer receives the energy and the seller banks payment for the electricity almost simultaneously
The Power Ledger system tracks the generation and consumption of all trading participants and settles energy trades on pre-determined terms and conditions in near real time. A user simply receives a registration email from their Application Host, they click on a link which takes them to the Power Ledger platform where they create a userid and password. That’s it, once logged in they can see their electricity usage and all their P2P trading transaction details.
- Investors (start-up investors / VC / employees / etc.. )
- Tech Mahindra (partner testing microgrid)
- Technology partners
- Energy companies
- Governments / rural municipalities
Technology Implementation & Distribution:
- start-up coming
- testing software as part of a microgrid-as-a-service