Blockchain Energy Startup Power Ledger, Sharing Energy Partner To Evolve Renewable Energy In Japan

News | January 27, 2019 By:

Australian energy startup Power Ledger has teamed with solar energy firm Sharing Energy to drive renewable energy trading in Japan.

Power Ledger is blockchain-enabled peer-to-peer marketplace for renewable energy, energy asset financing and carbon markets. It enables the sale of surplus renewable energy generated at residential and commercial developments – including multi-unit/multi-tenanted – connected to existing electricity distribution networks, or within micro-grids.

Under the partnership, Japan-based Sharing Energy, which specializes in the installation and provision of solar energy, will utilize Power Ledger’s blockchain platform to track renewable energy consumption from 100 pre-identified customers across Kansai, Chubu and Kyushu regions. The project is expected to grow to more than 55,000 rooftops by the end of 2020, with plans to sell to consumers via interested third parties or following Sharing’s procurement of a retail license.

Initially, Power Ledger will provide near real-time usage data to Sharing Energy, and from November onwards the Japan-based firm will use Power Ledger’s peer-to-peer platform to facilitate trading between sellers and buyers using real-time data from existing smart meters.

“We are proud of the work we are doing in Japan, and the strides we are making in democratizing energy across the globe,” said Dr. Jemma Green, chairman and co-founder of Power Ledger. “Especially given the increased effort by leading companies like Sharing Energy to embrace a new era of renewable energy. “This partnership is an exciting example of how our blockchain technology can make visions of implementing scalable, renewable energy solutions a reality for partners and communities worldwide.”

Power Ledger’s peer-to-peer platform will reportedly verify the feasibility and scalability of P2P energy trading in Japan, allowing Sharing Energy to conduct research on energy transactions. Sharing Energy’s objective is to effectively utilize clean, renewable energy within social systems to promote a better energy system and lower carbon emissions.

“As our country is reevaluating how people and businesses buy and sell energy, we are fortunate to be working with an established leader like Power Ledger,” said Emiko Koga, president of Sharing Energy. “And we look forward to positively impacting the Japanese energy market alongside them and supporting their commitment to provide clean energy that is affordable and available to all.”

Last year, Power Ledger partnered with Kansai Electric Power Co. (KEPCO) to develop a Virtual Power Plant (VPP) model to help address Japan’s challenges with excess solar generation.