Blockchain Tech Trialed in Australian Solar Power Market

Australian residents in Perth and the South West may soon be able to use blockchain technology to buy, sell or swap excess solar energy with anyone connected to the countries Western Power network, if the trials prove successful for the Perth company Power Ledger

Power Ledger is hoping to exploit the disruption of energy markets across the world, but particularly in Perth. The dynamics of electricity production, distribution and trading are changing. The startup aims to enable consumers to take an active role in these processes, and have more control over their electricity production and consumption.

Power Ledger will use blockchain-based technology to identify the ownership of energy as it is generated and then to manage multiple trading agreements between consumers who buy excess solar direct from the original owner or producer, removing the market costs and commercial margins.

The Australian blockchain firm has signed an agreement with National Lifestyle Villages to trial the technology at its Busselton site where there is a mix of consumers with and without solar panels. The pilot project will help demonstrate the capability of the technology with plans for a second trial currently in development for a site in the Perth metropolitan area, scheduled for the first half of 2017.