In yet another partnership with a property group, Western Australia-based tech company Power Ledger will roll out its blockchain technology for solar energy trading across 10 residential developments in the Perth metropolitan region. The energy trading tech will be deployed under a three-year deal signed with Connected Communities Energy – a project by residential developer Nicheliving.
The deal will see the deployment of Power Ledger’s blockchain technology to SkyHomes Inglewood, the developer’s flagship project, to deliver 100% renewable energy through an embedded electricity network and solar PV and storage microgrid. The initial rollout will be to 62 apartments in Inglewood and followed by the deployment at another 40 apartments in East Cannington.
Power Ledger already has a few projects with property groups in WA, such as at LandCorp’s East Village at Knutsford and Yolk’s Evermore apartment development at White Gum Valley, featuring shared on-site batteries. Together with embedded network management business Element47, it is also delivering its technology to Bluerock Projects’ DeHavilland Apartments in Perth’s east to allow nine households and one commercial space to share in the energy generation of a solar PV system and a Senec battery. However, the latest project will be its biggest one thus far.
“Nicheliving is the largest medium density developer in Western Australia to deliver blockchain technology to manage energy delivery and trading,” said Power Ledger Co-Founder and Chairman Dr Jemma Green. “New homeowners are always looking for ways of reducing the upfront cost of providing power infrastructure and Power Ledger’s platform is available to help pay back a solar investment faster, while reducing the carbon impact of energy.”
Power Ledger’s platform will track energy consumption and transactions, enable the residential developments to sell surplus solar energy to other residents to make the distribution of power more efficient and make the most out of the solar energy generated. That is to say, blockchain-based peer-to-peer energy trading gives more choice on how to manage power use and evade additional hidden costs and mark-ups by the electricity retailer to cover supply costs.
“As part of its Smart Cities initiative, Connected Communities, Nicheliving was seeking a way to provide new homeowners with more sustainable and affordable energy in their new home,” said Nicheliving Managing Director Ronnie Michel-Elhaj. “Power Ledger’s technology enables homeowners to lower their daily energy costs and unlock a new revenue stream by monetizing excess solar energy and reducing their reliance on fossil-fuel sourced power.”
In addition to deployments in apartment developments, Power Ledger’s platform is currently active in the National Electricity Network (NEM) in South Australia and anticipated to expand to the east coast within the next six months. In November, the tech company partnered with energy provider Powerclub for the first large-scale commercial rollout of its technology in Australia, which will see participating South Australian households pool net solar and battery storage and act as a virtual power plant.