The idea of ‘trading’ renewable energy has created an additional factor other than conservation of environment, which instigates consumers to voluntarily use renewable energy. A recognized platform that has enabled consumers to conduct direct trade of renewable energy is Power Ledger.
The software platform uses blockchain technology to enable consumers to buy and sell renewable energy directly between one another, which is referred to as ‘peer-to-peer trading’. The platform was created to link the consumers’ solar panels in a marketplace so that renewable energy can be low-cost, low-carbon and owned and sold by individuals and communities all over the world.
Through Power Ledger, individuals can be enabled to maximize the return on their renewable energy and also to enable those who wouldn’t have access otherwise, to buy renewable energy at more affordable prices. Ultimately, this technology aims to remove the reliance on central power stations and prevent developing nations from having to invest in expensive infrastructure.
An Empowering Platform
Since the electric power industry was modeled only for central players to feed the energy supply, consumers producing energy don’t get fair value for their investment. The Power Ledger platform allows consumers to receive the benefits of these investments, either by selling their excess energy through the Peer-to-Peer Trading Application or by contributing to Asset Germination Events. By using POWR tokens, consumers are able to help fund large renewable energy assets such as a battery or solar farms, and make a passive income off those investments using this platform.
The platform can also be used to support Microgrids, with the best known live example being its partnership with Tech Mahindra in India. Power Ledger is being used across Tech Mahindra campuses in India where consumer data is being used to prove the accuracy and security of the trading platform. This platform enables village-to-village trading through which communities can break their dependence on single grids and trade energy in a peer-topeer fashion.
The Leaders of Transformation
Power Ledger has a total of five Cofounders, namely Dr. Jemma Green, Dave Martin, Jenni Conroy, John Bulich and Gov van Ek.
Prior to founding Power Ledger, the Co-founder and Chair Dr. Jemma Green worked as an investment banker at JP Morgan in London. During her time in London, she studied Sustainability Leadership at Cambridge University. She’s currently a research fellow at Curtin University Sustainability Policy (CUSP) Institute. Jemma has experienced the challenges of sustainable cities through her role as an independent Councilor of the City of Perth and, most recently, as Acting Deputy Lord Mayor of Perth. She’s also the Chair of Climate-KIC, Australia.
The Managing Director of the company, Dave Martin, has over 20 years of experience working in the energy industry, and co-founder Jenni Conroy has a cumulative experience of over 30 years in the industry. The other two co-founders John Bulich and Gov van Ek were the co-founders of an Australian blockchain company specializing in the creation and commercialization of technical and commercial blockchain systems called Ledger Assets.
An Edifying Journey
Being a startup, the entire team at Power Ledger was wearing multiple hats so that they could constantly manage how to best spend time answering community questions about its ICO, while ensuring it doesn’t diverge too far from its longterm goals. The progress it has made comes down to the solid legal framework it has established for the POWR token.
As a company, Power Ledger doesn’t believe one can build credibility if they bypass regulatory environments and expose stakeholders to potential risks and liabilities. This is one of the keystones of the company’s business and its global partners see this strategy as a significant benefit.
Delivering Innovation Round-the-Clock
For Power Ledger’s project partners, it has a system in place to qualify leads and provide information about how to be involved in an available Power Ledger project. The company also has a business development team and a team of analysts who work to understand the needs of each potential customer and it tweaks and develops the platform to suit their specific needs.
For its community, the company has a team of moderators who answer questions 24/7 in Telegram chat which has 17,000 active users. The team members are always online to personally answer questions via Facebook, Messenger, Reddit, Twitter, email and more.
Aiding in the Development
As solar panels become more widespread, more and more households are becoming energy self-sufficient. But people who can’t afford to install their own solar PV or battery are left footing higher bills, which is not sustainable. Power Ledger platform helps people who can’t afford to participate in the distributed energy economy and who deserve the same access to low cost, low carbon energy as the rest of the population. Power Ledger, is in a position where its technology is sought after by companies from around the globe.
“Circumstance has pushed us to innovate to a point where we’re leading the way in this industry,” asserts Dr. Jemma Green.
Paving the Path towards a Renewable Future
Power Ledger’s focus for 2018 is on Asset Germination Events and outreach from the community to participate in energy generation. Asset Germination Events present enormous potential for developing countries and also countries impacted by natural disasters to assist in rebuilding assets. Another entity the company has been working on is an electric vehicle charging platform.
A recent GTM Research report on blockchain in the energy sector independently researched Power Ledger as well as others and ranked them by means of projects deployed or planned. The company is leading the pack with its peer-to-peer energy trading, electric vehicle charging and transactive energy solutions. Over the next 18 months Power Ledger aims to have the platform being used in 12 jurisdictions and trading 100s of Mega Watts.