Energy technology has also introduced blockchain applications in southern Australia.

Australian blockchain-based energy company Power Ledger has partnered with a local energy retailer to promote its technology in South Australia.

The blockchain software launched by Power Ledger will enable locals to aggregate surplus solar energy and battery storage into virtual power plants for better control and management of their energy. This is a significant development for the prevalent solar energy generation in the area.

Commercial Deal with Local Energy Retailer Powerclub

According to a report announced on 11/7 here, Power Ledger is integrating its energy trading application called Virtual Power Plant (VPP) into Powerclub's commercial offerings. The new project aims to provide users with wholesale electricity prices and reduce annual energy costs.

In essence, Powerclub members will be able to pool excess solar energy and battery storage into VPP, a cloud-based distributed power plant designed to enhance generation and facilitate energy trading. As a result, users can sell solar energy during peak demand and price spikes, avoid peak demand price hikes, lower annual energy costs, achieve faster settlements, and have better control over when to use energy and how much to pay for it.

This Technology Aims to Decentralize and Democratize the Energy Industry

Imagine the electricity bills we have been paying, where despite seeing the fluctuating units, the cost algorithm has always been beyond our true ownership. This technology holds the promise of empowering Australians to control when they use energy and how much they pay for it, thereby avoiding additional hidden costs and fees from electricity retailers.

This is the value blockchain can bring: removing trust costs, things we have always trusted or even overlooked should actually belong to us, such as internet data, electricity bills, water bills, and more. As Dr. Jemma Green, Co-founder and Chairman of Power Ledger, said:

The future of the energy industry will be decentralized and democratized, just like what we have seen in the taxi industry through ride-sharing applications like Uber and Ola.

Powerclub's CEO, Stuart McPherson, also stated:

If Powerclub could support only one thing, it would be transparency. We partnered with Power Ledger primarily because we believe their technology is crucial in reducing the opacity of the energy market.

Following the initial energy trading trial conducted by Power Ledger in Western Australia in September this year, the company announced another blockchain-based energy trading experiment in the Kanto region of Japan in early October, marking the country's second trial, which is expected to be completed by December this year.

Further Reading

• Russia proposes to confiscate Bitcoin used in illegal activities in the future
• Shanghai government collaborates with 6 banks to establish a blockchain trade alliance

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