The Liechtenstein Institute for Strategic Development and Power Ledger have joined forces to bring a new, high-value model of distributed renewable energy markets to Europe.
LISD will become the first European Application Host to offer Power Ledger’s blockchain-based peer-to-peer energy trading platform to support the development of low-cost, low-carbon distributed energy markets in microgrid developments in Europe.
The agreement sees the Australia-based Power Ledger support LISD in marketing, planning and developing the metering, market settlement and reconciliation components of microgrids while LISD promotes and develops sustainable microgrid developments and other trading uses based on renewable energy and storage systems in Europe.
The agreement was announced at the European Green Australia Summit (EUGAUS) hosted by the Australian Embassy in Berlin today.
Professor Peter Droege of LISD said the development of low-cost and low-carbon energy systems was a crucial component of sustainable urban development.
“To continue the pattern of large-scale generation owned by large-scale corporations delivered by large-scale networks would miss an enormous opportunity to make distributed and local energy use sustainable on multiple levels,” Prof Droege said.
“Having renewable generation owned by communities means the economic benefit of energy production stays in the community and presents a significant incentive for the installation of greater rates of distributed renewable energy resources,” he said.
Power Ledger managing director, David Martin said coupling on-site renewable energy generation with peer-to-peer trading allowed communities the opportunity to maximise the value of their renewable energy investment while sharing the low-carbon benefits with neighbouring consumers.
“Renewable microgrid developments allow for the efficient installation and operation of generation capacity close to consumers,” Mr Martin said.
“The autonomous nature of the trading platform means it’s simple and low-cost and bringing this together with consumer-owned generating capacity means energy can be low-cost, low-carbon and owned by the communities in which it’s operating,” he said.
Power Ledger uses world-leading blockchain technology to create an immutable record of energy generation and consumption allowing consumers in community-titled developments like microgrids to buy and sell energy among themselves with confidence.