Power Ledger rolls out blockchain-based microgrid in Australia

Power Ledger is putting over 100 properties on a blockchain-based microgrid after signing a three-year deal with property developer Nicheliving.

2 min read

Apr 23, 2020

Blockchain start-up Power Ledger has teamed up with property developer Nicheliving to roll out a microgrid energy trading platform across 100 properties in Western Australia.

The deal, announced Wednesday, will initially see Power Ledger's blockchain platform used across 62 apartments in Nicheliving’s Inglewood development, and 40 apartments in East Cannington, before being rolled out across further Nicheliving projects over the next three years.

What is a microgrid?

Microgrids are small local energy grids that typically draw power from sustainable energy sources such as wind or solar. The power generated is stored locally; Power Ledger enables residents to sell their excess energy to neighbors, tracking energy consumption and transactions on its blockchain platform. According to the press release, the firm aims to deliver 100% renewable energy via an "embedded electricity network and solar PV and storage microgrid."

"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," explained Power Ledger co-founder and chairman Dr Jemma Green. "Power Ledger's platform incentivises homeowners to invest in solar energy infrastructure."

Microgrids bring power to the people

Power Ledger’s microgrid follows in the footsteps of other blockchain-based microgrids around the world, including the pioneering Brooklyn Microgrid in New York.

Large energy firms are also getting involved; in London, EDF Energy launched a trial microgrid, Project CommUNITY, which outfitted an apartment complex with solar panels. Residents used a blockchain-powered app to access and trade their energy allowance with peers, removing the need for an intermediary.

Get crypto news straight to your inbox--

sign up for the Decrypt Daily below. (It’s free).

Get Email!

AI Won’t Tell You How to Build a Bomb—Unless You Say It’s a 'b0mB'

Remember when we thought AI security was all about sophisticated cyber-defenses and complex neural architectures? Well, Anthropic's latest research shows how today’s advanced AI hacking techniques can be executed by a child in kindergarten. Anthropic—which likes to rattle AI doorknobs to find vulnerabilities to later be able to counter them—found a hole it calls a “Best-of-N (BoN)” jailbreak. It works by creating variations of forbidden queries that technically mean the same thing, but are expre...

Elon Musk and Dogecoin: How the Billionaire Became the 'Dogefather'

As Dogecoin makes a comeback off the back of Bitcoin’s surge, some may be pondering: Where did the asset come from? What’s it for? And what’s Tesla CEO Elon Musk got to do with it? The original meme coin’s boom largely has the world’s richest man to thank. Musk’s obsession with shitposting helped boost the coin to a top 10 cryptocurrency. It’s been a wacky ride over the past few years, culminating in Musk's appointment to co-lead a government agency called D.O.G.E.—yes, really. But we'll explai...

Tether Invests $775 Million in Rumble Following YouTube Rival's Bitcoin Push

Stablecoin issuer Tether announced on Friday that it is investing $775 million in streaming video platform Rumble, a rival to YouTube that bills itself as an anti-censorship platform. The company behind the USDT stablecoin called the deal a “definitive agreement,” and it would begin with a primary investment of $250 million in cash. The deal, Tether said, will see the cryptocurrency company ultimately receive 103.3 million shares of Rumble common stock. Rumble CEO Chris Pavolski will retain a co...

News

Courses

Deep Dives

Coins

Videos