New Solar Asset Showcases Blockchain Vision

New Solar Asset Showcases Blockchain Vision

Power Ledger (POWR) have announced the purchase of a 250kW solar photovoltaic (PV) system that will utilise a new blockchain-based data asset management system to provide electricity through a 20 year Power Purchase Agreement (PPA) in Western Australia. Power Ledger’s unique management system, called PPA Vision, provides greater transparency for the agreements in the measurement, billing and settlement for energy generated and transmitted to individual users or the wholesale market.

Purchased through Perdaman Advanced Energy, the PV system will be located in Maddington and independent estimates suggest such a facility could provide over 400,000kWhs per year on average.

PPA Vision for Supplier and Consumer

Launched in a $34 million initial coin offering (ICO) in 2017, Power Ledger’s peer-to-peer marketplace merits were quickly acknowledged by established business leaders and the company has proceeded to lead the way in bringing blockchain’s potential to the green energy market.

Since winning Sir Richard Branson’s global Xtreme Tech Challenge in 2018, Power Ledger’s technology is beginning to be integrated into Australian building projects and the team have conducted successful trial initiatives in various countries, including the U.S.A., Japan and India.

Such examples give weight to Power Ledger’s claim that their solutions “…can be integrated into independent power producers, embedded network operators, asset developers and PV systems.”

Power Ledger Co-founder and Executive Chairman Dr Jemma Green explained that, “Our trials with energy retailers and governments around the world have highlighted the demand for a product that enabled autonomous management and settlement of energy generation and consumption.”

Dr Green highlighted how PPA Vision can prevent loss of revenue for the provider and eliminate overcharging for the consumer. It also meets regulatory requirements in an emerging two-sided energy market and can aid authorities in reaching their renewable energy targets.

According to Power Ledger, any “…business or local council entering into PPA with a renewable energy generator can integrate directly with Power Ledger’s platform, however those PPAs operating across the network would need to partner with an energy retailer.”