Blockchain-powered energy firm Power Ledger has secured a deal with the largest renewable, green energy company in Italy named Alperia. As a result the energy company will use Power Ledger’s blockchain solutions to experiment with new services. This includes for example commercial and residential customers, and services like energy trading and origin tracking.
Energy trading will allow consumers to sell energy from their solar panels to other citizens. The blockchain will do this directly, without using a third party. At the same time origin tracking will allow everybody to see where their energy comes from.
But Power Ledger will first apply blockchain technology to the smart metering field. This trial is expect to run until May 2020. The European Commission gives priority to green energy, while it also wants to implement smart city policies. In 2019 the amount of solar panel installations increased with 88 percent. Industry insiders expect growth for the next five years, which will benefit Power Ledger.
“Our technology has already been proven as an effective solution for transacting renewable energy trading and virtual power plants, processing transactions instantaneously as a digital ledger, with price determined by supply and demand in real-time”, Power Ledger boss Jemma Green said in a statement.
Alperia serves 280 thousand households, mainly in the north of Italy. The company produces energy from renewable sources and is one of Italy’s largest green energy providers. As a result Italy is well ahead of its 2020 energy strategy target of 17 percent of renewables. The country hit its target in 2014, performing better than other EU countries.
Blockchain and green energy
Power Ledger has active projects in Western Australia metropolitan areas. On top of that the company is active in countries like Austria, Thailand, Japan and the United States. In addition several Western Australian shires have contacted Power Ledger. In November the company announced a deal to create energy hubs in rural Australia.
The work of Power Ledger is great, but it doesn’t stand on its own. There are multiple companies active in this field. IOTA already has a blockchain system to provide electricity to electric cars. They are even talking about incorporating their technology in giant wind parks.
In addition The Republic of San Marino is going to reward green citizens with crypto. They partnered with VeChain to accomplish this. Bosch is building blockchain-powered fridges that automatically switch between wind and solar energy, while IKEA has been making concepts of solar-powered blockchain villages. One can conclude that green energy, energy distribution and blockchain technology work very well together.
Also published on Medium.