Power Ledger News: Following its win at the Richard Branson’s 2018 Extreme Tech Challenge, the leader in decentralized energy trading platforms, Power Ledger, announced today that they will be deploying their peer-to-peer (P2P) renewable energy trading platform at licensed retail electric provider American PowerNet’s headquarters in Wyomissing, Penn.
American PowerNet’s headquarter plans to incorporate xGrid platform to trade 35kW of solar power, that is produced from its office roof and carport; neighbours connected in the office park enables them to optimize clean energy for both carbon reductions and to decrease electricity costs.
Power Ledger aims to enable a decentralized energy structure will allow regular people to actively participate in the growth of the industry while being accountable for the impact of energy on the environment. This endeavour with American PowerNet reaffirms their goals. President of American PowerNet, Scott Helm said:
“Rather than just dump our excess solar power on to the grid, we’re thrilled we can now provide clean, sustainable power to our neighbors. Power Ledger’s P2P platform will optimize the offering for all of the participants.”
The xGrid deployment
A lastest U.S. project from Power Ledger incorporates the P2P energy trading technology into the largest U.S. wholesale electricity market, Pennsylvania-New Jersey-Maryland Interconnection (PJM). The Clean Energy Blockchain Network (CEBN) has partnered with Power Ledger to provide local, hands-on technical assistance with the deployment. This team has previously deployed with Silicon Valley Power in Santa Clara, Calif., and Northwestern University in Chicago.
As for American PowerNet, the deployment is planned to commence this month under the existing deregulation rules with the cooperation of the local utility PPL. That is the existing distribution system will be used to connect the solar assets by employing the data from the pre-existing meters; this has surpassed the need for additional hardware, software or engineering fees. Helm stated:
“This type of structure can benefit all parties involved and can be recreated in any deregulated territory where a business site has excess solar generation.”
Power Ledger Managing Director and Co-Founder David Martin stated:
“We believe the Pennsylvania-New Jersey-Maryland Interconnection is a key market where P2P can become mainstream, and this project illustrates the growing consumer desire to invest in clean, renewable energy. We are appreciative of CEBN for the opportunity to work with American PowerNet, a pioneer in helping customers cut costs and carbon, and a company aiding us in our mission to democratize energy, and provide cheaper, cleaner power.”
Power Ledger recently announced a new token, Asset Germination Event (AGE) token. The blockchain-based token will enable retail investors to venture into the renewable energy market. Furthermore, AGE will open new sources of capital for energy projects. To maintain secure asset and income register, blockchain technology will be employed. All this and more is aimed at evolving the renewable energy infrastructure across the world.