Today, Australian blockchain firm Power Ledger announced a three-year deal with property developer Nicheliving to install its energy trading platform at ten residential projects in Perth. The goal is to introduce large-scale solar energy trading in Western Australia.
Power Ledger’s blockchain platform will be deployed with Connected Communities Energy, a smart city initiative of Nicheliving, which enables residents to manage their homes remotely. The blockchain energy trading platform will first be rolled out for 62 apartments at ‘Sky Homes’ in Inglewood, and then for future development projects by Nicheliving.
“Nicheliving is the largest medium density developer in Western Australia to deliver blockchain technology to manage energy delivery and trading,” said Jemma Green Co-Founder and Chairman of Power Ledger.
The real estate firm has over $400 million worth of property development projects in the region. Under the deal with Power Ledger, Nicheliving aims to use 100% renewable energy through an electricity network and solar PV and storage microgrid.
Power Ledger has developed a blockchain platform for transacting excess energy generated by rooftop solar panels. It will track energy consumption and transactions, and enable residents to sell surplus power to their neighbors.
“We’re seeing an emerging trend of project developers considering more low cost and low carbon energy supplies during the design phase of their projects. Power Ledger’s platform incentivizes homeowners to invest in solar energy infrastructure,” said Green.
Australia is facing an energy price crisis and has one of the highest rates of electricity consumption. Moreover, major utility companies are shutting down coal power plants to reduce pollution, which may further worsen the situation. Thus, microgrids and distributed energy resources are well placed to offer alternative solutions for electricity generation.
The blockchain energy trading firm has signed several deals across the globe, and its platform is being used in Malaysia, France, India, U.S., Japan, and Italy, among others.
Within its home country, Power Ledger is active in the National Energy Market (NEM), is running a trial for energy trading in rural Australia, and has partnered with electricity wholesaler Powerclub to offer its platform in South Australia.