Power Ledger Extend Solar Trading Trial

Western Australian based tech company Power Ledger have extended their solar trading trial – let’s take a look at what stage 2 of the company’s p2p renewable trading scheme will encompass.

Solar Trading and Power Ledger

Power Ledger’s blockchain technology has been used since November 2018 to track the transactions of rooftop solar energy traded between 18 households in Fremantle, Western Australia.

The Fremantle Smart Cities project was titled RENeW Nexus and its goal was to demonstrate peer-to-peer energy trading between residential houses. 

Project partners included Curtin University, government-owned retailer Synergy, Western Power, the government-owned network operator, and the City of Fremantle itself.

The trial works by utilising Western Power’s existing network with Synergy’s customers. The Power Ledger platform allows households to buy and sell excess rooftop solar energy in real-time, with residents able to view electricity usage in 30-minute intervals, rather than waiting for their quarterly bill.

Since the trial started in November 2018, Power Ledger has processed almost 50,000 transactions on its platform per month and tracked over 4 megawatt hours of peer-to-peer renewable energy trades. Safe to say it’s been a roaring success, so they’re off to start the second phase of their trial. 

Power Ledger are also working outside of Australia in varied capacity:

  • Silicon Valley Power in the City of Santa Clara alongside Clean Energy Blockchain Network
  • BCPG T77 Thailand
  • Kansai Electric Power Co. (Phase 1)
  • Vicinity Castle Plaza

Saving With Solar Interview with Power Ledger

We had a chat to Power Ledger about the exciting second phase of their renewable energy trading scheme

With ~50k transactions per month currently, what’s the target for 2020?
Power Ledger intends to double the number of participants in the second phase of the trial.

How many trial partners will be involved in stage 2?
In the second phase of the trial we continued to partner with Synergy, Western Power, Curtin University and EnergyOS 
 
Any info on the ‘additional pricing models’ in stage 2? 
The pricing model for stage 2 is similar to stage 1, with some minor tweaks. The partners will be organising workshops and surveying participant to learn more about pricing models. 
 
How much of the trading is automated so the prosumers don’t have to do much?
All the trading is automated. in this deployment however, participants have the option to set their preferred buy and sell prices for peer to peer energy. They can be as active as optimising their prices and trading on a half hourly basis. Alternatively they could go in the platform and set and forget their prices they are happy with.

VPP 2.0 (Virtual Power Plants 2.0)

According to a roadmap for Power Ledger released on Medium last year, the goal is to enact VPP 2.00 – which will allow a lot of options for households who want to trade solar. It also factors in ideas for a two-way electricity grid and options for households to assist the grid – be that through capacity, frequency control, or voltage support.  

We see VPP 2.0, or Virtual Power Plants 2.0, as a natural extension of our peer-to-peer functionality, tying all our other products together. xGrid will evolve into an optimized model of a virtual power plant, to create a conduit for the transaction of value between the owners of distributed energy resources and multiple counterparties.

Self-executing smart contracts will integrate with physical switches in the network, creating an autonomous power market with secure value transfer between consumers, energy markets and networks. For example, a household with solar may normally be trading energy in a P2P market, until they are offered a higher rate by the network to provide capacity, frequency control, or voltage support.

Power Ledger extend Solar Trading Trial to Stage 2. (source: Power Ledger)
Power Ledger extend Solar Trading Trial to Stage 2. (source: Power Ledger)
 
 

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Power Ledger Community Advocate Issue – Spruiking

‘Advocates’ for the Australian blockchain-based electricity trading company Power Ledger have been accused of spruiking the service through the ‘Power Ledger Community Advocate’ program.

Power Ledger Community Advocate ‘Spruiking’

According to an article in the Australian Financial Review, the ‘community advocates’ acted like ‘bounty hunters’ to spread the word of Power Ledger – with some of them making false or overemphasised claims. Some of the investors (who would be rewarded with free POWR tokens as a reward for spreading the good word) were saying things like Elon Musk was involved, and that the project will ‘revolutionise the retain electricity industry’.  Whilst this isn’t PL per se doing the spruiking, their community advocates are a measure of their brand and it’s important that they check what some of them are doing online:

“Some of our bounty group were professional bounty hunters chasing tokens because it’s what they do,” Power Ledger said in a blog post quoted on Medium.

“Some were bots reporting an astounding 5000 likes of our social media output in a single 24-hour period.”

Jemma Green Power Ledger Community Advocate
Jemma Green, CEO Power Ledger Community Advocate Furore (source: AFR.com via Power Ledger)

CEO Dr. Jemma Green discussed the energy trading platform’s 2018 progress in a podcast episode with Laura Shin:

“This year was really about us deploying our products in multiple locations around the world so we could see where was the biggest opportunity for us to scale and commercialise our technology,” Dr Green said.

Power Ledger’s price has been in decline since its $1.79 USD peak back in last December. At time of publishing, the POWR share price was $0.085102 USD as per the CoinMarketCap website. This is a 90% drop in value over the past 12 months. Fewer than 100 building are using the  trading system – we still have our fingers crossed for what is undoubtedly game-changing technology. 

Please note: Saving With Solar are in no way affiliated with Power Ledger and do not have any ‘community advocate’ relationship. 

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Peer-To-Peer Renewable Energy Trading with Power Ledger

Australian blockchain solar startup Power Ledger has partnered with Yolk Property Group to apply its renewable energy trading between residents in their White Gum Valley development. This marks the first time an apartment development utilising blockchain technology has been offered for sale to the public in Australia. 

Peer-To-Peer Renewable Energy Trading

The White Gum Valley project is an ARENA funded sustainable living innovation project. Inside White Gum, Yolk Property Group are building an apartment development named ‘Evermore’ which will have solar PV panels, battery storage, and, of course, the Power Ledger blockchain technology we have written about quite frequently on this site.

According to The West, the project is being overlooked by a team at Curtin University headed up by Professor Peter Newman. They are collecting and analysing the data to help inform Western Power and national authorities on energy infrastructure – viewing this as a learning experience.

“The world is watching – I think that now there are people all round the world saying they’re doing it in Perth why can’t we?” Professor Newman said.

Yolk Property Group have advised that expected cost savings for residents will be around 30 to 40 per cent. Certainly nothing to be sneezed at!

About Power Ledger

Peer-To-Peer Renewable Energy Trading - Power Ledger
Peer-To-Peer Renewable Energy Trading – Power Ledger (source: Power Ledger Facebook)

Under the Power Ledger method, buying and selling of power happens automatically and is all stored in the blockchain – so it’s really easy to manage and is very hands-off.

“If you’ve got excess solar now, your solar panels are producing energy while you’re away at work or you’re away on holidays – that energy gets spilled into the grid and you sell it to Synergy your retailer,” Power Ledger’s David Martin said.

“Now, under the model we have here, instead of selling your energy to Synergy you can sell it to your next door neighbour at a better price.”

If we can manage to get a solar battery rebate in Australia, will that help methods like Power Ledger? Watch this space…

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Solar panels on new homes mandatory in Cali

Solar panels on new homes will be mandatory for most new homes built in California from 2020 as per new building standards ratified by the California Energy Commission on Wednesday.

Solar panels on new homes

Solar panels on new homes - sunpower
Solar panels on new homes in California to benefit Sunpower (source: sunpower.com.au)

This move is the first in the United States which will provide a welcome boost to solar panel manufacturers and installers. According to the Australian Financial Review, California adds about 80,000 new houses per year. Currently, the California Solar & Storage Association estimates that 15,000, or almost one in five homes come with solar. The new standards are expected to increase demand for solar systems by 10-15%. 

The new mandatory solar scheme will raise the cost of a new home by nearly $10,000, according to estimates. This will mean around $40 USD per month in extra mortgage repayments which will be more than offset by a projected $80 USD saving on energy bills. 

“We cannot let Californians be in homes that are essentially the residential equivalent of gas guzzlers,” Commissioner David Hochschild said before the vote.

 
Tom Werner of SunPower, a San Jose solar company, was naturally rather excited about the prospect, telling people in an interview about his thoughts of the future of solar in the golden state: 
 
“We think it’s another example of California policy preceding what will happen in other markets,” he said.
 
According to a 2017 US Department of Energy report cited by the Energy Commission, just 9% of single family standalone homes in the state (which has 40m residents) currently have solar panels installed. This should increase that nicely, with shaded buildings or buildings with tiny roofs exempt from the new mandatory solar systems.
 
Is it only a matter of time before we see these new guidelines working in new communities alongside companies like Power Ledger, whose microgrid and blockchain technology allows for largely self-contained community solar options?
 
 

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Blockchain – Power Ledger in Puerto Rico?

Blockchain tech provider Power Ledger in Puerto Rico – the Australian company are looking to help the struggling Caribbean island with its ongoing energy woes by implementing their technology into microgrid resources.

Power Ledger in Puerto Rico

Power Ledger in Puerto Rico
Power Ledger in Puerto Rico (source: wikipedia.org)

We posted about Tesla’s input last October when they had a look at a microgrid in Puerto Rico – apart from the initial six, we haven’t seen many more of the Tesla Powerpacks installed – although hundreds of Powerwalls were also sent to help. Since PREPA (Puerto Rico Electric Power Authority) has a $9 billion USD in debt to Wall Street it’s a difficult situation for PR.

According to Bloomberg, Power Ledger have hired Dante Disparte, a Puerto Rican grid resiliency and security expert who is also CEO of advisory firm Risk Cooperative. Disparte spoke of the need to shore up the grid before any further problems – noting that it won’t be long until Puerto Rico sees more wild weather: 

“The next hurricane season is but three weeks away and the grid is not reliable — that is part of the urgency,” said Disparte.

Power Ledger are working with factories and regulators to help companies on the island buy solar panels and battery storage. They’ll then use the blockchain technology to allow companies to trade energy with each other, and to sell supplies to employees or the community. This exchange will be able to take the forms of non-traditional (or, depending on which way you look at it, very traditional) exchange – for example you’ll be able to buy power via cash, cryptocurrency (e.g. Bitcoin or Ethereum) or even labour. 

Puerto Rico Electric Power Authority CEO Walter Higgins said in an interview last week that it will be another couple of months until they finish restoring electricity to the remaining 25,678 customers still in the dark following the storms ~8 months ago. So obviously they need to start looking at measures that will help them next time there’s a problem.

Disparte said this isn’t going to be about “just building back the old grid waiting for the next crisis and the next wave of financial constraints.” They’re trying to completely change the way Puerto Rico can address issues like this in the future and this is an inspiring real-world usage of this technology.

Power Ledger’s investors will be able to make investments in Puerto Rico energy assets later this year using their POWR tokens. If you want to learn more about it please click here to view our article on Power Ledger.

 

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