Power Ledger, an Australian developer of a blockchain-based energy transaction platform, has initiated its trial for peer-to-peer (P2P) energy trading in rural areas.
According to Cointelegraph, a blog post by Power Ledger disclosed that the startup has launched its first trial of P2P energy trading using blockchain outside of a large city in Western Australia.
Power Ledger stated that its blockchain-powered P2P platform lets users monetize their surplus solar energy, while the pilot project was aimed at helping users in rural areas efficiently sell surplus energy from their power grid and to save costs.
David Martin, Managing Director and Co-founder of Power Ledger, revealed that the electricity grid in the area is powered by large-scale power stations that distribute energy to users in locations that are several hundred kilometers away. Power distribution generally requires more energy in rural areas.
Therefore, Power Ledger’s pilot project is being carried out at nine commercial sites in the Shire of Wongan-Ballidu and another site from the Shire of Moora. The startup has partnered with Innovations Central Midlands, a local association, as well as energy firms such as CleanTech Energy, BSC Solar, and Sonnen.
Meanwhile, the energy trading platform will allow members from shire offices, medical centers, sports centers, visitor centers, local farmers and bakeries exchange surplus energy with enhanced efficiency.
Steve Mason, CEO of Innovations Central Midlands, added that the blockchain-powered platform could help residents and agencies in the areas to save thousands of dollars in electricity costs each year.
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