After a successful trial, U.S. wholesale electricity provider American PowerNet (APN) has hinted at multiple potential future projects in energy trading with Australian blockchain firm Power Ledger. This was Power Ledger’s first peer-to-peer (P2P) energy trading arrangement in the U.S., otherwise deployed in multiple countries, including France, Japan, and India.
In September this year, the Federal Energy Regulatory Commission issued Order 2222. The Order enables distributed energy resources (DERs) to ‘participate alongside traditional resources in the regional organized wholesale markets,’ thereby removing barriers, opening the market to competition, and new resources, encouraging business and technological innovation into the energy market.
The trial used Power Ledger’s blockchain-based xGrid platform, through which APN traded solar power generated from its headquarters’ rooftop with two other commercial participants. Power Ledger used existing APN hardware such as distribution systems and solar assets from meter data. For the trial, the platform was deployed into the PJM Interconnection, the largest wholesale electricity market in the U.S., which powers around 65 million people. It resulted in 43MWh traded energy and allowed the participants to buy solar energy at 5% lower rates.
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