Power Ledger in partnership with Japanese utility, KEPCO, trialed P2P transaction for post-FIT surplus power in Osaka, proving the accuracy and consumer acceptance of Power Ledger’s technology in Japan.
Osaka, Japan – August 12, 2019: Power Ledger in partnership with Japanese utility, KEPCO, trialed a blockchain-enabled demonstration of P2P transaction for post-FIT surplus power in Osaka, proving the accuracy and consumer acceptance of Power Ledger’s leading-edge technology in Japan in addition to Australia.
The trial proved P2P surplus power transaction to be completed autonomously and automatically including settlements with cryptocurrency regardless of fluctuations of PV generation and customer demands. It can be deployed not only in detached houses but condominiums and microgrids.
“Although there are still many challenges like amendments of relevant laws for commercialization, Power Ledger’s product presents significant opportunities for prosumers to sell their excessive energy at more advantageous prices and for consumers to buy it at more affordable prices,” said KEPCO representative general manager Fumiaki Ishida.
Power Ledger managing director David Martin said the successful outcome was built on Power Ledger’s previous work in Australia, Thailand and the United States.
“The success of the KEPCO trial is an extension of successful projects Power Ledger has deployed in other markets leveraging the ongoing development of our technology as well as the experience of working with major energy players like KEPCO,” Mr Martin said.
“Power Ledger looks forward to building on this success and continuing to work to support KEPCO’s innovative plans to maintain its leadership position in the energy transition,” he said.
Power Ledger will continue the development of digital energy products designed to engage consumers to increase the penetration of distributed renewable generation capacity in Japan, while providing consumers greater choice over how their energy is produced and from where their energy is sourced.