Power Ledger, Peer-to-peer (P2P) energy trading platform along with energy solutions business, Greenwood Solutions have announced an alliance to bring renewable energy trading to Melbourne.
Burwood in Melbourne is the identified as the site for deployment and is said to be the first commercial deployment of Power Ledger’s P2P energy trading platform in Melbourne, Victoria. Greenwood Solutions will be responsible for installing solar equipments across the platform while Power Ledger platform will be responsible to distribute solar energy efficiently behind the meter. The aim of the project is to deliver residents with clean renewable energy. Additionally, it can be also seen as means of creating increased awareness around the benefit of renewable sources of energy.
The unique Power Ledger’s software platform enables consumers to buy and sell renewable energy directly between one another, also known as as ‘peer-to-peer trading’. Power Ledger achieves this goal by using world-leading blockchain technology to create a transparent, auditable and automated record of energy generation and consumption.
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Greenwood Solutions Director, Eddie Greco,
“The current model of how people buy and sell electricity is outdated and cumbersome. Being able to experience our customers first hand frustration on the complexity of electrical billing, quickly made us realize that change was needed.”
“Renewables and blockchain have been a strong passion of mine over a number of years. It was only a matter of time before the synergy between the two was found.”
Greenwood Solutions Project Engineer, David Fulton also made a comment,
“The lagging effect of our energy infrastructure when compared to other sectors, especially telecommunications, has puzzled me for many years. After reading the Power Ledger white paper I was pleased to see I wasn’t alone and that an Australian company had a world class solution. After meeting with Power Ledger at their headquarters in Perth earlier this year, working together seemed like the next logical step.”
Power Ledger Managing Director David Martin said the combination of on-site renewable energy generation and peer-to-peer trading is an innovation brought for the betterment.
“Coupling on-site renewable energy generation with peer-to-peer trading will allow residents to maximise the value of their renewable energy investments, while sharing the low-carbon benefits with their neighbours. Power Ledger is focussed on creating a platform for consumer-owned, low-cost, low-carbon energy systems and this deployment in Melbourne brings us a step closer to our goal of democratising power,”
Greenwood Solutions work with businesses of all sizes to achieve higher energy efficiency and in turn reduce their operating costs. The business has provided energy solutions and innovative technologies for a diverse selection of clients across commercial, residential and industrial sectors.
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