We’ve been to a meet up with Power Ledger co-founder David Martin and head of business Vinod Tiwari to know more about their project on creating a decentralised system to distribute low-cost, renewable and reliable energy all over the world.
Power Ledger is a software company developing solutions for the energy industry. The Power Ledger Platform is an ecosystem of blockchain applications and they are about to release their flagship: a peer-to-peer trading solution that allows households that whole own energy assets to trade electricity with their neighbors and set their own prices.
In a South East Asian first, Thai-Government backed renewable energy developer BCPG and Power Ledger have collaborated on the formation of a microgrid of apartment buildings in Bangkok. Power Ledger’s P2P platform will be used to trade energy capacity from BCPG solar PV between four participating entities at T77 urban precinct in Bangkok, demonstrating the efficient trading of renewable energy in order to lower energy costs for consumers. Participants in the energy trading trial include the Habito Shopping Mall, Bangkok International Preparatory & Secondary School, Park Court Serviced Apartments and Dental Hospital Bangkok.
BCPG will design and install the connections, meters and solar PV, while Power Ledger will provide its blockchain technology as the transactive layer across 18 meter points to monitor energy transactions between participants. The aim of the trial is to provide a base case for future prospective projects in the region.
Upon successful completion of the trial, Power Ledger and BCPG will deploy the solution across 31 other prospective projects over a 3-year period.
“This trial will showcase how our world-leading blockchain technology can provide secure, trustless and immutable transactions of renewable energy between participants. Thailand is a regional showcase for the integration of distributed renewable energy technologies and we’re really pleased to be working with BCPG and the Thai authorities to help identify the path towards a low-carbon energy future.” David Martin said.