Power Ledger is taking its blockchain-based peer-to-peer power sharing technology outside of the city for the first time with a trial in Western Australia.
The trial in WA is the first time Power Ledger has taken its tech to a regional area and will see commercial buildings trade excess solar power between each other, underpinned by the company's blockchain technology.
Nine commercial sites in the Shire of Wongan-Ballidu are the lucky subjects of Power Ledger's experiment.
Power Ledger co-founder and managing director David Martin says his company's solution will improve on the current feed-in-tariff model that provides no financial compensation to commercial sites that are feeding excess solar power back into the energy grid. With Power Ledger's platform the sites will be able to monetise their excess solar power.
"The current energy system relies on large-scale power stations pushing energy to some consumers located hundreds of kilometres away. This requires an even further energy push when trying to reach regional areas such as Wongan Hills or Moora," says Martin.
"We now have the ability to generate power from our rooftops, from renewable sources - and the existing energy system needs to transition or face an increasing crisis of relevance. If successful, which we believe it will be, this could revolutionise the way rural energy systems operate."
Innovation Central Midlands CEO Steve Mason, who is partnering with Power Ledger on the project, believes the trial will improve economic and social development outcomes in the area.
"There's plenty of sunlight in the bush that is just going to waste, or is getting fed back to the grid for nothing. With Power Ledger's platform we're seeing some compensation to the Shire of Wongan-Ballidu and businesses that have invested in solar technology," says Mason.
"Given the vast number of businesses that support the agricultural industry and the houses, sheds and equipment used by farmers in their day to day operations (with all requiring significant amounts of power), this platform has the potential to save us thousands of dollars in electricity costs."
Business News Australia