Power Ledger, one of the most successful Australia-based blockchain ventures to emerge from the 2017 ICO gold rush, has successfully completed a trial with US wholesale electricity provider American PowerNet.
The Australian blockchain venture, which focuses on blockchain-enabled peer-to-peer energy trading between consumers, has hinted toward multiple future projects with American PowerNet subsequent to lengthy trials in which the US electricity provider tested the capabilities of Power Ledger technology.
The trial, executed in the United States, was the first implementation of Power Ledgers peer-to-peer energy trading technology in the United States, but isn’t the first case in which the Perth-based platform has deployed overseas — Power Ledger technology is already in use in France, Japan, and India.
Power Ledger’s trial partnership with American PowerNet saw the US-based wholesaler deploy Power Ledger’s xGrid platform, allowing American PowerNet to trade solar power generated by the organization with a series of other commercial participants.
Power Ledger Expands Worldwide
The technology deployed by Power Ledger integrated existing distribution systems and assets, and was facilitated through PGM Interconnection — the largest wholesale market in the United States. At the end of the trial, PowerLedger technology allowed participants to purchase solar energy at a 5 percent discount on normal rates.
The success of the trial has seen American PowerNet enter into a two-year commercial agreement with Power Ledger, allowing the US party to continue using the xGrid solution. In statements released to Ledger Insights, Co-Founder and Executive Chairman of Power Ledger Dr Jemma Green highlighted the viability of the Power Ledger solution in international markets.
“Our technology is proving to be compatible with existing large-scale electricity infrastructure like the PJM in the U.S. and the National Electricity Network in Australia. This places Power Ledger in a powerful position in the market as a network-ready technology.”
Recently, Power Ledger has engaged in collaboration with Perth-based developer OP properties to develop the first completely carbon-neutral apartment complex in Australia, allowing residents to access developer-funded rooftop solar panels and local battery storage.