While looking back is always a nice reminder of how far we’ve come, we know this is just the beginning for Power Ledger. With that said, here’s a little look forward.
We’ve achieved a lot since our last roadmap was shared with the community. While looking back is always a nice reminder of how far we’ve come, we know this is just the beginning for Power Ledger. With that said, here’s a little look forward.
Our mission is to democratize power. It’s a big mission. Given that internationally, in developed countries, $125billion dollars is spent in electricity markets annually. And in the developing world a further $116 billion dollars. It’s a big marketplace, one that we crucially want to get right.
To do this, we’re working tirelessly on the development of all our products, including Asset Germination Events (AGE), carbon credits and certificate trading (C6 and C6+) and virtual power plant (VPP 2.0). We’ll also continue to rollout our already-developed peer-to-peer solution (μGrid and xGrid) globally.
We’re creating a new marketplace, and as well as meeting with current and prospective clients daily, there’s a conversation happening with regulators. There’s been a great deal of progress in this area over the last year, with Australian energy regulators openly discussing peer-to-peer trading as one of the options for optimising the value of distributed energy resources (DERs), as we progress towards a distributed energy system.
Last month, our Managing Director Dave and Policy Analyst Sarah gave evidence to a WA parliamentary inquiry into microgrids and associated technologies. Here’s the transcript for those interested. This came straight after their trip to Melbourne in September where they presented to the Australian Energy Regulator on the benefits of P2P trading.
Asset Germination Events (AGE)
First details announced regarding our proposed AGE model and plans released to community. AGEs will use blockchain and cryptocurrencies to provide new sources of capital for funding energy projects. In 2019, people will be able to invest in and co-own energy assets, using AGE. More details.
Fremantle Smart Cities Project — RENeW Nexus
The Fremantle Smart Cities project announced last year is going live this quarter. Titled RENeW Nexus, the trial will run for six months and demonstrate residential houses peer-to-peer energy trading across the suburb of Fremantle.
The project partners involved in this part of the trial are Curtin University, a leading West Australian university, Synergy, the government-owned retailer, Western Power, the government-owned network operator, and the City of Fremantle.
Silicon Valley Power
Further development of our Carbon Credits platform is being trialled in conjunction with Silicon Valley Power in the City of Santa Clara alongside Clean Energy Blockchain Network. The project is taking place at one of California’s biggest electric vehicle charging stations to track and manage the production and consumption of low-carbon energy from solar and batteries. More details.
BCPG T77 Thailand
BCPG has been live on our Platform since August 2018. In this period, they have requested platform updates based on their specific needs, analysing data inputs and outputs and understanding how to use the system. Our development team has been busy making these improvements and our projects team have been providing ongoing support and training. In November, BCPG will begin enrolling their customers onto the Platform directly, and using the data for billing purposes. More details.
Kansai Electric Power Co. (Phase 1)
Our project with KEPCO in Japan is located outside of Osaka. The first phase of the trial is going live this quarter and entails seven consumers and one prosumer at a test site. The trading environment will start with basic peer-to-peer trading, experimenting with various energy loads and trading logics. More details.
Vicinity Castle Plaza
A trial with Vicinity, one of Australia’s most-established names in retail property management, will be taking place this quarter in South Australia at Castle Plaza. Vicinity will be using the Power Ledger Platform to view and manage energy consumption across the network, using near real-time data. This project will require incorporating a battery into the trading environment which has its own battery management system. More details.
New Project: U.S. Partner
A soon-to-be named partner has enlisted our platform to trade their excess solar generation with their two neighboring businesses. Our U.S. channel partner Clean Energy Blockchain Network facilitated this project to deliver our solution in a deregulated market, the partner will be trading across the network without any regulatory hurdles. We’re excited about this project as it demonstrates how easily this model can be repeated in deregulated markets.
Platform Enhancements — Dynamic Pricing
Our xGrid and μGrid product has primarily been used in environments where everyone agrees on their peer-to-peer energy prices at different times of the day. Power Ledger has now built functionality into the system for users to set their own prices and get priority to local energy if they are willing to pay more than their neighbours.
Case Study: BCPG
We will soon be releasing initial findings from our T77 project with BCPG in Bangkok, Thailand.
Case Study: Unnamed Client
We have been working behind-the-scenes on a few desktop studies. We’ll be releasing anonymised analysis findings from these studies for our community as well as potential clients to assess.
Expand Platform Use: Asia
Power Ledger recognizes that there’s an immense appetite for blockchain-based energy trading in Asia. We have received a great deal of support from our current partners in this region with BCPG, a renewable energy developer in Thailand, and KEPCO, Japan’s second largest utility. Additionally, we have active communities in many Asian countries, including: Thailand, China, Korea, the Philippines and Japan. We want to further the existing interest for our blockchain-fuelled innovation across Asia.
Many of the trials that launched in Q4 2018 will reach their conclusion during Q2 2019, such as the Fremantle RENeW Nexus Project. Discussions on project extensions and commercialization on a larger-scale will commence, impacting plans for the second half of 2019.
Community Product Demo
As the platform will be used across Australia by everyday households, we want to share it with our community too. In the first quarter of 2019, we’ll share a live demo of Power Ledger’s peer-to-peer trading product. As always, we welcome any and all community feedback on what features you would like to see if you were using the Platform.
Platform Enhancements — Prepaid Payment Channels
Discussions with current and potential project partners has led to a desire as a business to establish a robust and interoperable prepaid payments channel partner.
Carbon, Carbon and Carbon
With our xGrid and μGrid projects expanding globally, we see the carbon market as a huge opportunity, particularly following recent visits to the United States. We want to see our C6 and C6+ products achieve the same success as our peer-to-peer solutions, starting with operations that began in California, alongside Silicon Valley Power.
Platform Enhancements — Notifications
Our web application for xGrid and μGrid will grow into a more valuable software service over time as we add more features and data analytics to improve the end user’s financial position within the local marketplace. This includes notifications on prices, production and consumption outliers.
We are excited about continuing our discussions with energy regulators in Australia after building momentum throughout 2018. One of these opportunities will be through the Open Energy Networks Consultation on the “how best to transition to a two-way grid” run by the Australian Energy Market Operator and Energy Networks Australia. After already engaging through written submissions and workshop participation in Perth and Melbourne, we are looking forward to the next phase of the consultation which will trial various new models aimed at optimising distributed energy resources (DER) in the distribution network.
We see VPP 2.0, or Virtual Power Plants 2.0, as a natural extension of our peer-to-peer functionality, tying all our other products together. xGrid will evolve into an optimized model of a virtual power plant, to create a conduit for the transaction of value between the owners of distributed energy resources and multiple counterparties. Self-executing smart contracts will integrate with physical switches in the network, creating an autonomous power market with secure value transfer between consumers, energy markets and networks. For example, a household with solar may normally be trading energy in a P2P market, until they are offered a higher rate by the network to provide capacity, frequency control, or voltage support.
One More Thing…
You didn’t think we’d forget to give Asset Germination Events a mention, did you? While we’re unable to share specific timelines, our aim is to have the AGE Product Disclosure Statement and asset procurement followed by our first Asset Germination Events live for the community in 2019.
This Roadmap reflects the intentions and goals of the Power Ledger management at the date of publication. The dates, timeframes, objectives, and details contained in this Roadmap are subject to change at Power Ledger’s sole discretion. This reflects the rapidly changing nature of our product and business environment. Power Ledger will endeavour to inform the community of any material changes to the proposed Roadmap but does not warrant that the Roadmap is error-free or that the objectives identified in it will be achieved in accordance with the Roadmap or at all.