Executive Summary written by GBBC
Traditional power grid infrastructure gives little control to consumers; consumers are unable to choose the source of their energy and grids are often old and susceptible to natural disasters and physical or cyberattacks. Blockchain-enabled Distributed Energy Resources (DER) like solar panels, batteries, and microgrids can shift control to consumers.
Power Ledger provides a platform in which consumers with solar power and batteries can freely sell their excess energy back to their energy company in near real-time. This platform allows its participants to own and monetize their energy and simplifies the buying and selling process.
Power Ledger calls it a “democratization of power.” As with many other blockchain-based initiatives, decentralization is one of the main pillars of the technology. Run on the Ethereum blockchain, the Power Ledger Platform and Power Ledger Tokens (POWR) allow entities to trade energy for tokens. This can be used to enable P2P trading, microgrids, and wholesale market settlement. Further, the platform uses the data it collects to more efficiently balance energy loads and optimize delivery.
Power Ledger is an Australian-based blockchain company and leader in the tech-energy industry. For Power Ledger, security and adequate distribution are also key elements that are constantly shaping their strategies. Power Ledger has generated an efficient integration of renewable energies with a platform that helps coordinate the different resources available in the community while improving the accessibility and affordability of energy to all members of its members. Power Ledger is currently expanding its energy trading across the world, showcasing its ability to democratize power.
