Energy trading software company Power Ledger has partnered with Japanese solar provider Sharing Energy and electricity retailer eRex to trial peer-to-peer (P2P) solar energy trading in the Kanto region.
Power Ledger’s blockchain-enabled P2P platform will demonstrate how a group of households could trade excess solar energy between each other.
This trial aims to demonstrate the use of distributed energy systems to counter the significant feed-in-tariff (FIT) reduction planned for October 2019 that will affect more than 500,000 solar consumers.
This will be Power Ledger’s second trial in Japan, which aims to demonstrate how communities can monetize renewable energy investments and gain access to cheaper energy systems by selling their excess solar energy via Power Ledger’s P2P platform.
“Using Power Ledger’s technology, households with solar panels will be able to sell any excess solar energy they have generated at a more competitive price than if they were to sell the energy back to the grid or to an energy retailer,” said Power Ledger Co-founder and Chairman Dr Jemma Green.
Power Ledger has previously successfully trialed a blockchain-enabled demonstration of P2P transaction for post FIT surplus power in Osaka with Japan’s second largest utility, KEPCO, which demonstrated the accuracy and consumer acceptance of the platform.
“Japan currently has 40GW of installed solar capacity and our energy trading technology has already proven a viable alternative to the market’s current FIT model. This secondary trial strengthens Power Ledger’s foothold in the Japanese energy market,” said Dr Green.
Power Ledger’s platform will integrate with the home’s existing smart meter systems to enable participants to set prices, track energy trading in real time to demonstrate settlement of surplus solar transactions.
“By utilizing Power Ledger’s blockchain technology, we will verify the feasibility of P2P energy trading in the country of Japan. Sharing Energy will enable participants who have invested in solar energy infrastructure to receive faster payback options and provide a new revenue stream for households,” said Sharing Energy President Emiko Koga.
The trial with Sharing Energy and eRex is scheduled to run until December 2019.
“eRex is focused on progressing Japan’s take-up of renewable energy and we believe Power Ledger’s technology will incentivize more consumers to consider using electricity from green sources,” said eRex General Manager, Head of Corporate Planning Daichi Kamite.
Power Ledger has active projects in several countries around the world including Austria, Thailand, Japan, Australia and the United States.
About Power Ledger
Power Ledger is an Australian technology company that has developed a blockchain-enabled renewable energy trading platform. Power Ledger’s technology won Sir Richard Branson’s global Extreme Tech Challenge award. The company has built a series of products to enable energy trading, renewable asset financing and more efficient carbon and renewable energy credit markets. More information: www.powerledger.io
About Sharing Energy
Sharing Energy is a Japanese solar energy asset provider that purchases the excess energy generated by the solar PV via a feed-in tariff. Once the feed-in-tariff ends in Japan, Sharing Energy plans to sell the excess energy to interested third parties. Currently, Sharing Energy offers customers free installation of its solar PV. Sharing intentionally installs excess capacity and in return customers receive free solar energy for their homes.
More information: www.share-denki.com
eREX Co., Ltd. is an electric power company headquartered in Tokyo, Japan. that operates through three business divisions: Power Retail, Power Generation, and Fuel. The Power Retail division supplies power to retailers for private institutions as well as households. The Power Generation division handles power generation through biomass. The Fuel division manages the procurement of biomass fuel from local suppliers in Indonesia and Malaysia.
More information: www.erex.co.jp