- Power Ledger’s first carbon credit project.
- The Power Ledger platform will be used in one of the biggest multi-storey EV charging facilities in California.
- The project will create a digital record of the Low Carbon Fuel Standard (LCFS) transactions. The aim is to cut both time and cost in the processing of LCFS credits.
Power Ledger has today announced a ground-breaking collaboration with Silicon Valley Power (SVP), City of Santa Clara.
The project will link renewable energy production and storage with community-based charging of electric vehicles (EVs).
The Power Ledger platform uses world-leading blockchain technology to create a transparent, auditable and automated record of energy generation, storage and consumption.
The project will integrate the platform with renewable energy assets in order to:
- Track and manage the production and consumption of low-carbon energy from Santa Clara solar and batteries, through one of the largest public multi-storey electric vehicle charging facilities in California;
- Digitize Low Carbon Fuel Standard (LCFS) management system transactions to support the tracking of low-carbon electricity as a fuel path and achieve the goal of cutting time and cost in processing LCFS credits.
The platform will connect city-owned PV and the SVP electric power grid by utilizing API data from pre-existing meters without the need for additional hardware, software or engineering fees.
“Silicon Valley Power is a leader when it comes to implementing innovative customer programs with cost-saving technology and digital accountability,” Power Ledger Managing Director and Co-Founder David Martin said.
“We’re excited to demonstrate how the platform can assist with cutting both costs and carbon in a simple manner with a secure and clean energy source.”.
“We’re looking forward to using the Power Ledger platform to enable the tracking of carbon- free electricity from source to customer electric vehicles,” Silicon Valley Power Chief Electric Utility Officer John Roukema said.
“This will provide a clear audit trail in support of proposed changes to the low carbon fuel standard program that will allow for incremental credits while automating the entire process.”
You can find more details on the project here.
About Power Ledger:
Power Ledger is the leading peer-to-peer marketplace for renewable energy. Using blockchain technology, the platform provides a transparent, audit-able and automated market trading and clearing mechanism for residential and commercial businesses to decide who they want to sell their surplus energy to and at what price.
See more at: https://powerledger.io/
About Silicon Valley Power
Silicon Valley Power (SVP) is the trademark adopted for use by the not-for-profit electric municipal utility of Santa Clara, CA, serving residents and businesses for over 120 years. SVP provides power to nearly 55,000 customers, including Intel, Oracle, Levi’s Stadium, Owens Corning, Marvell Semiconductor and NVIDIA at rates 22 to 48 percent below neighboring communities.
See more at: http://www.siliconvalleypower.com/