Power Ledger Expand Blockchain Energy Trials in Japan

Power Ledger Expand Blockchain Energy Trials in Japan

Power Ledger (POWR), the Australian peer-to-peer (P2P) green energy technology specialists, have announced a new partnership in Japan with solar provider Sharing Energy and electricity retailer eRex. The agreement is intended to showcase the Power Ledger blockchain-enabled platform’s ability to facilitate trade of excess solar energy between households in the Kanto region and builds upon the earlier success of a five month trial with Japan’s second largest utility, KEPCO.

Participants in the latest trial will be able to integrate Power Ledger’s platform with their existing smart meters allowing them to set prices and monitor real-time energy trading to confirm settlement of solar energy transactions.

Growing Need for P2P Solutions

For the last seven years, Japan’s feed-in-tariff (FIT) model has partially offset the high cost for solar power in the country but with a reduction in those subsidies being implemented this month, more than half a million solar customers will be negatively affected and the need to monetise a household’s excess energy production is expected to grow.

Commenting on the outcome of the previous trial with KEPCO in Osaka, Power Ledger’s Co-founder Dr Jemma Green said the company’s “…energy trading technology has already proven a viable alternative to the market’s current FIT model.” 

It is the P2P aspect that Dr Green highlights as an attractive incentive as “Using Power Ledger’s technology, households with solar panels will be able to sell any excess solar energy they have generated at a more competitive price than if they were to sell the energy back to the grid or to an energy retailer.”  

By extending Power Ledger’s evaluation process into the Kanto region, Sharing Energy President Emiko Koga confirms that “…we will verify the feasibility of P2P energy trading in the country of Japan. Sharing Energy will enable participants who have invested in solar infrastructure to receive faster payback options and provide a new revenue stream for households.”

The General Manager and Head of Corporate Planning at eRex, Daichi Kamite, states the latest trial, which is scheduled to run until December, will progress “…Japan’s take up of renewable energy and we believe Power Ledger’s technology will incentivise more consumers to consider using electricity from green sources.”