Consumers are considering the carbon intensity of their energy consumption and the economic impact of their electricity usage more than ever before. But not everyone can afford solar panels and some, such as renters or those whose roofs aren't orientated to benefit from solar exposure, have no choice in the matter.
They deserve the same access to low-cost, low-carbon energy as everyone else. Peer-to-peer trading via our xGrid platform enables energy companies to give their customers access to renewable energy, even when they can't generate it themselves. It also ensures the value from the investment in distributed energy resources, like rooftop solar panels, stays in the community where the energy investment is made.
Customers can sell their excess energy to their neighbours, and energy companies now have another prosumer-consumer couple on their books that might otherwise have been expensive to retain or acquire. If the prosumer also has batteries, they can help the energy retailer manage their price risk using our VPP 2.0 product.
Our project with American PowerNet marks the introduction of Power Ledger’s technology into the Pennsylvania-New Jersey-Maryland (PJM) Interconnection — the largest wholesale electricity market in the United States.
American PowerNet uses Power Ledger’s xGrid platform to trade renewable energy generated from solar panels on its office rooftops and sheltered parking lots with two of their corporate neighbors.
American PowerNet was looking for a way to allow other businesses to benefit from the excess electricity generated by its solar panels rather than sending the power back to the grid under a net metering arrangement. According to American PowerNet President Scott Helm, the 35-kilowatt installation generates about two times what the company’s operation needs to run its headquarters building.
The xGrid deployment is happening under the existing deregulation rules with the cooperation of the local utility, Pennsylvania Power and Light, and utilizes their existing distribution system.
In the news
Residents in Fremantle, Western Australia are actively trading solar energy generated from their rooftops with their neighbours and setting their own prices in a world-first trial. The trial forms part of the RENeW Nexus project, and is a joint effort between Power Ledger, Curtin University, Synergy, Western Power and eEnergyOS.
Power Ledger’s xGrid platform is enabling residents to set their own buy and sell prices and trade energy in near real-time. Western Power, who operate and maintain the electrical grid in the south west of Western Australia and Synergy, Western Australia’s largest electricity generator and retailer, are further enabling this marketplace by maximising existing customer connections to their infrastructure and trialing fixed daily supply charges.
At present, up to 40 households are taking part in the RENeW Nexus Plan trial, trading across the regulated electricity grid. Residents participating in the trial, which will run until June 2019, will see peer-to-peer energy trades reflected on their bills. Following completion of the trial, Curtin University will carry out research underpinning the trial and publish findings.
Throughout the trial, residents will have access to granular usage data to help alter their standard consumption habits. Currently residents receive their energy bills in totals every 30 to 60 days, the RENeW Nexus Plan trial will enable them to view their usage in 30 minute intervals.
Residents are making use of this function right now. They’re able to compare energy usage hourly, daily or monthly to determine times of peak consumption. Additionally, users can view peak and off-peak times in the platform. This creates a clear distinction between periods of higher and lower energy prices — a detail that the majority of users may not be otherwise aware of.
While blockchain-based peer-to-peer trading is already taking place, RENeW Nexus is the first trial to enable participants to set their own prices. The cooperation between Western Power and Synergy to facilitate fixed daily supply charges is also a first in a project of this kind.
The RENeW Nexus project is managed through Curtin University and is supported by the Australian Government through the Smart Cities and Suburbs Program.
Power Ledger’s blockchain-powered peer-to-peer trading platform will initially allow Sharing Energy to track renewable energy consumption from 100 pre-identified customers across Kansai, Chubu and Kyushu regions in Japan.
The project is expected to grow from 100 rooftops to over 55, 000 rooftops by the end of 2020, with plans to sell to consumers via interested third parties or following Sharing’s procurement of a retail license.This partnership and project illustrate Power Ledger’s growing momentum in Asia, and their continued global progress toward combating carbon emissions and revolutionizing the current global energy system.