Green energy is on the rise, electricity costs are high, how can the energy company Power Ledger (POWR) use blockchain to improve the world

OpenAI CEO Sam Altman has invested $375 million in the US nuclear fusion startup Helion Energy, aiming for clean energy innovation. There are also energy-related companies in the blockchain industry. How can blockchain help with energy?

Energy trading technology company Powerledger was founded in 2016 and is headquartered in Australia. Its goal is to improve the efficiency of the energy market and utilize blockchain technology to track, trace, and trade energy, enabling peer-to-peer energy trading. The technology is currently deployed in 12 countries.

PowerledgerPOWR: Peer-to-Peer Energy Trading

Powerledger has created a software solution that reduces energy costs and increases price transparency by establishing Local Energy Markets (LEM). This approach can reduce grid pressure, minimize waste, maintenance work, and enhance network flexibility.

By partnering with developers, Powerledger incorporates infrastructure within communities during the design and construction phase, allowing residents to share renewable energy generated from community solar panels, reducing their daily energy costs. Through their platform, surplus renewable energy can be traded across electricity meters to create new revenue streams.

Powerledger has achieved significant success in northern India's Uttar Pradesh. With a population of 200 million, the Uttar Pradesh government collaborated with Powerledger to trial their technology. As a result, the electricity purchase prices set by the Powerledger platform were 43% lower than the original retail electricity prices. Subsequently, the state enacted legislation requiring all utility companies to engage in peer-to-peer trading.

PowerledgerPOWR: Trading Energy for Beer

Victoria Bitter beer company partnered with Powerledger, enabling participants to track and trade their surplus solar energy to power the Victoria Bitter Solar Exchange program. Participants receive Victoria Bitter beer delivered directly to their door as a reward.

PowerledgerPOWR: Energy Attribute Certificates

Powerledger collaborated with the Japanese utility company KEPCO to establish shared metering data at 8 participating points in Osaka, Japan. The first phase provided communities with a cheaper energy system to offset existing energy costs and allowed generating customers to sell surplus energy peer-to-peer, monetizing their renewable energy investments. In the second phase, KEPCO used Powerledger's platform to establish, track, and trade Energy Attribute Certificates (EAC) generated by rooftop solar systems, which will be used for settlements in the future.

Given that green energy and zero carbon emissions are future trends, utilizing blockchain technology for Energy Attribute Certificates (EAC) to provide detailed, immutable source details and fundamentally change their creation, purchase, and claiming processes, achieving full traceability and enabling real-time ownership transfer and settlement will be the direction of future development.

Note: Energy Attribute Certificates (EAC) are contract tools representing and conveying all attributes of renewable energy generation, a general term for green certificates, not requiring electricity itself to be sold with the attributes.

POWR/Sparkz Dual Token Model

Powerledger has issued two tokens. The POWR token provides on-chain governance and rewards, allowing open node validators to stake and earn rewards.

The other token, Sparkz, is an ecosystem stablecoin pegged to the value of the local currency used for purchases and can only be used within the Power Ledger platform for buying and selling energy. Sparkz has no supply limit, is generated by exchanging fiat currency, and is destroyed upon redemption.

According to CoinMarketCap data, the total circulating supply of POWR is 48 million tokens, with the current price around $0.1775.

This article does not constitute financial advice. POWR has low liquidity, so please DYOR (Do Your Own Research).