American Power Net (APN) recently completed a successful trial of Power Ledger's blockchain-based electricity trading platform in the USA. APN is now positive on using the platform in the US, which would allow sustainable energy producers to trade electricity over the public energy grid. During the trial 43 MWh of electricity was traded by APN with two of its neighbors. This system is made to be used with solar power systems, but could be adapted to other forms of generation.
According to Dr. Jemma Green, the co-founder and Executive Chairman of Power Ledger,
“Our technology is proving to be compatible with existing large-scale electricity infrastructure like the PJM in the US and the National Electricity Network in Australia. This places Power Ledger in a powerful position in the market as a network-ready technology.”
Why it matters: The market for sustainable electricity is massive. Instead of using the old electrical model that saw a central power plant providing electrical service for a community, this system would allow communities to create power when they can, and sell it to nearby consumers. While using solar power isn't feasible as a full-time solution yet, it can be used with this kind of system to lessen the use of fossil fuels, and help people to offset the costs associated with installing solar power systems. As these systems see further use in real-world applications, there is a good chance that more people will see blockchain technology as a viable way to create new electrical systems globally.
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