Electricity consumers within an energy microgrid or embedded network are empowered through complete visibility of their electricity usage and transactions; simply, securely, transparently and available to be viewed in real-time.
For building or complex owners and strata managers, μGrid enables electricity metering, big data acquisition, rapid micro-transactions and microgrid management at an unprecedentedly granular scale.
μGrid also breaks the nexus between energy generation and consumption in these environments by generating revenue from renewable energy assets, including solar panels and batteries, even if the investor of these is absent or when there is excess energy generation.
Power Ledger will work with Yolk Property Group to apply its world-leading blockchain technology for renewable energy trading between residents across Yolk’s Evermore apartment development. Evermore, located in the White Gum Valley, is part of an Australian Government-funded (ARENA) sustainable living innovation project. Residents will be able to save on their power bills using a combination of rooftop solar PV panels, battery storage and Power Ledger’s blockchain technology. Evermore was the first development in Australia for sale to the public utilizing blockchain technology for energy trading between residents in a strata-managed complex. Evermore comprises 24 highly sustainable apartments powered by solar PV and cutting-edge lithium battery technology. Located 3 kilometers from Fremantle city center, White Gum Valley is Western Australia’s first One Planet Community, an international sustainability initiative that provides reduced costs of living to residents.
The community at GenY, which consists of three apartment units in an embedded network, utilizes and shares energy produced by a 9 kW solar installation on their rooftops. Also connected to the main electricity network, any excess electricity generated during the day is sold back to the local retailer. Likewise, any additional electricity requirements are provided by the grid. The renewable energy produced is shared evenly between residents through Power Ledger’s peer-to-peer trading platform, and if residents are not home during the day to consume this electricity, they are able to monetize it by selling it to the other units in the complex.
Power Ledger’s first project took place in Western Australia’s National Lifestyle Villages (NLV) in Busselton trialling our energy trading software. The NLV is home to a very passionate, progressive and environmentally aware community that is known for taking initiative and being innovative in order to achieve positive environmental outcomes. The Power Ledger trial demonstrated the value opportunity created through using a distributed ledger, or blockchain, to improve the economics of their Distributed Energy Resources (DERs) and deliver positive outcomes for the community as well as the environment.