Blockchain To Power Renewable Energy And Batteries

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Blockchain power sharing to rival batteriesDecentralization has the potential to disrupt yet another sector; the facilitation of peer to peer energy trading and storage. By cutting out the middlemen, households and commercial properties alike could benefit from reduced fees and frictionless exchange and storage of energy.

This is exactly what a partnership between Power Ledger, a Perth company, and Ledger Assets, Australia’s largest blockchain company, aims to do. Starting August 25, the first trial will involve 15 to 20 households in Busselton, western Australia, which boasts more than 300 days of sunshine annually. Additionally, rooftop solar panels are being adopted at an increasing rate, highlighting that consumers want to take control of both electricity production and consumption. The objective of this trial is to ensure the Power Ledger system works, by verifying, recording, and settling transactions virtually, comparing it against the energy retailer’s transactions for accuracy.

The second trial, scheduled for the first half of next year and backed by Landcorp and Synergy, will involve 80 households, with some containing storage batteries. They will be trading electricity across the network and utilizing Power Ledger’s system for settling transactions, inspired by residents in a Brooklyn

Read more ... source: TheBitcoinNews

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