Blockchain Technology - Power Ledger
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Blockchain technology

Blockchain technology has the potential to transform the energy sector as it improves transaction efficiency.

What is blockchain technology?

To build the operating system of the new energy marketplace, we need to ensure the existing infrastructure has the required supporting technologies.

We need to reimagine how energy is distributed, managed, traded, used and governed.

Blockchain technology has the potential to transform the energy sector as it improves transaction efficiency, enables price setting and allows for energy to be traded easily peer-to-peer.

The energy sector is beginning the transition from a centralized system with a small number of very large power plants, to a decentralized low-carbon electricity grid connected to billions of devices such as rooftop solar panels, batteries, thermostats, white goods, electric vehicles and smart meters.

Why does Power Ledger use blockchain?

Power Ledger’s platform uses blockchain technology to record and track energy transactions, which allows for greater transparency, increased automation and reduced possibility of human error.

Our blockchain-enabled platform improves efficiencies for energy retailers by enabling P2P transactions, Power Purchase Agreements, renewable energy certificate trading and settlement, as well as energy provenance tracking.

Blockchain technology can create a decentralized market for virtual power plants and peer-to-peer energy trading as it can handle transactions and payments on both sides of the meter, in real time, at a lower cost to all involved.

Blockchain technology in the energy market is predicted to rise from USD 200 million in 2018 to around $18 billion by 2025.

Global Market Insights Inc.

Benefits of blockchain in electricity markets

  • Decentralisation of energy grids enables localised energy markets to develop.
  • Easier to trace, verify and choose energy sources.
  • Enhanced product offering for retailers to attract and retain customers.
  • Faster settlement from trading.
  • Smart contracts and facilitate more complex transactions between multiple parties within the energy ecosystem.
  • Cross retailer trading – customers from different retailers trading and settling energy between themselves while also into the wholesale market.
  • Enhanced auditing – having market records encoded in a blockchain creates an immutable record of the transaction, providing a secure, auditable trail.

Benefits of blockchain in REC registries and markets

  • Settle REC trades both physically and financially in one block reducing counter-party settlement risk.
  • Easier to trace and verify energy sources.
  • Connect buyers and sellers directly.
  • Facilitating a bigger and more consolidated marketplace to trade a global or national REC portfolio.
  • Enhanced auditing – encoded market records on the blockchain to create an immutable record of transactions which provides guaranteed verification of ownership.
  • Remove risk of double selling of RECs.
  • Relevant parties can verify the existence of transactions on the blockchain independently.
  • Enable market participation for residential and commercial rooftop PV by fractionalising RECs.
  • Generators submit generation data to platform and automate the evaluation and issuance of RECs process.

It’s time the energy market had its lightbulb moment.

Dr. Jemma Green

Power Ledger’s token model

Under the dual-token model, POWR and Sparkz create consistency across all of Power Ledger’s energy trading markets to ensure they operate the same way across the globe.

As blockchain technology matures, the role of POWR and Sparkz tokens will continue to evolve. Blockchain projects globally are continuing to explore the most appropriate and effective use of tokens in their business models.

Our token economics

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