By Power Ledger, an Australian blockchain startup has announced that it will be partnering with Sharing Energy a Japanese renewable energy firm. The partnership will see the solar panel company using Power Ledger’s distributed ledger platform in order to track the consumption of clean energy.
The first phase of the pilot will include 100 customers who make use of the Japanese-based green company. According to Power Ledger, this number is set to grow to an astonishing 55 000 in the next couple of years.
Power Ledger & Sharing Energy Partnership:
As per a report published in Business News Western Australia, Power Ledger will team up with Sharing Energy to monetise the production of solar energy for their clients. Dr Jemma Green, chair and founder of Power Ledger stated:
“This partnership is an exciting example of how our blockchain technology can make visions of implementing scalable, renewable energy solutions a reality for partners and communities worldwide.”
In the initial phase of the pilot, the installation of rooftop solar panels for 100 buildings will be implemented with the goal to eventually expand to 55,000 by 2020. This forms part of a more significant project which will see the Japanese government utilising clean, renewable solar energy as opposed to the burning of fossil fuels.
Power Ledger’s platform originally entered mainstream media back in September 2017 when they became the first ICO (Initial Coin Offering) to launch in Australia. After successfully raising a massive $27 million in funding from the general public, the Perth-based startup has sought out partnerships from many nations around the world.
Just months after their launch, Power Ledger partnered with BCPG, a Thai government-backed renewable energy firm. Following this deal, the blockchain firm landed a deal with the US-based non-profit Helpanswers. Furthermore, the firm announced a deal with Silicon Valley Power which saw them implementing a platform to track the use of renewable energy use of electric vehicles in the world’s largest technology hub.
It’s clear that is has been a productive 18 months for Power Ledger. Notably, this is not the first time the firm has partnered up with a Japanese firm. They already collaborate with the island nation’s largest private power retailer, Kansai Electric Power Company. The goal behind this initiative is to provide more efficient distribution of the surplus of solar energy.
The ultimate goal of Power Ledger is to provide clean, affordable and reliable energy to customers, regardless of where they are based in the world. The Power Ledger platform utilises blockchain technology to track energy consumption and to monetise the distribution from producer to customer.
Lastly, as many different energy firms are signing up with Power Ledger, it’s clear that the premise of using blockchain technology to both redistribute and track power consumption to where it’s most required is becoming popular.
Could the rise of blockchain technology and renewable energy indeed take off in a mainstream fashion? Let us know by leaving a comment below.
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