Power Ledger’s software is being trialled by Thai renewable energy business BCPG and Thai utility Metropolitan Electricity Authority (MEA) to trade rooftop solar power between an international school, apartment complex, shopping center and dental hospital in Bangkok.
How the technology works
Power Ledger world-leading blockchain software provides the transactive layer to enable P2P trading, monitor energy transactions between participants, to generate invoicing to allow for settlement, and summarise the trading position of individual participants.
Such technology maximises renewable energy consumption within the precinct, which is cheaper than grid energy, providing greater income for the solar asset owners BCPG, while reducing electricity costs for participants, which allows for P2P trading in close to real-time. Each building is allocated energy from the solar PV systems installed on the roof (some of which are owned by BCPG, who sells the energy to them for a discounted rate) which is transacted through the Power Ledger platform. If any building consumes less than the system generates and therefore has a surplus of PV energy, they are able to trade that with any other building in the P2P environment.
For renewable energy developers like BCPG, the Power Ledger platform helps create additional investment opportunities for installation of solar for sale with neighbouring buildings whilst the building owners get cheaper energy and monetise any energy that they don’t use themselves by selling P2P to the participating peers.
The T77 project is ongoing, with the Power Ledger platform receiving live data with no disruptions. Meter data is communicated to Power Ledger Platform through API interface and the trades are transacted every 15 minutes.
A video describing the project can be found to the right.