According to Business News Australia, the trial will be Power Ledger’s second in Japan. It is partnering with domestic solar energy provider Sharing Energy and electricity retailer eRex.
The objective of the project is to demonstrate that households are capable of trading excess solar energy among themselves using the blockchain-based P2P energy trading system.
Previously, Power Ledger successfully cooperated with utility firm KEPCO to put its system to trial in Osaka. Co-founder and Chairperson Dr. Jemma Green revealed that the firm’s technology will allow energy trading at a lower cost.
“Using Power Ledger’s technology, households with solar panels will be able to sell any excess solar energy they have generated at a more competitive price than if they were to sell the energy back to the grid or to an energy retailer,” she said.
“This secondary trial strengthens Power Ledger’s foothold in the Japanese energy market.”
E-NEXT project partner and innovation manager Mathias Schaffer, who has previously worked on a trial project with Power Ledger, revealed that blockchain is a key element that has made P2P energy trading possible.
“Blockchain technology has the potential to disrupt a lot of markets but as an innovation, we also think it offers new business opportunities and the chance to generate added value for our customers,” said Schaffer.
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