On Tuesday, November 13th, Power Ledger announced deploying its P2P renewable energy trading platform to PowerNet’s headquarters in Wyomissing, Pennsylvania.
As the company says, “Power Ledger is a leading peer-to-peer (P2P) marketplace for renewable energy.” Furthermore, it leverages blockchain technology, thus enabling individuals to easily trade surplus energy.
Moreover, the blockchain allows for an auditable, transparent, and automated market trading of energy for residential and commercial businesses. On the other hand, American PowerNet (APN) provides retail and wholesale electric supply services throughout the United States.
Using the Power Ledger’s XGrid Platform
The Wyomissing headquarters of PowerNet will use the xGrid platform to trade 35KW of solar energy garnered from the carports and office roofs. It will also garner solar power from neighbors connected in its office park.
Accordingly, PowerNet and Power Ledger, together, are taking concrete steps to reduce the carbon footprint on the planet. This project also gives a big push to PowerLedger’s vision of getting a decentralized energy sharing structure to the use of common people.
Scott Helm, President of American PowerNet, sounded positive regarding this new partnership with Power Ledger.
“Rather than just dump our excess solar power on to the grid, we’re thrilled we can now provide clean, sustainable power to our neighbors. Power Ledger’s P2P platform will optimize the offering for all of the participants,” said Scott.
The Advantages of xGrid Deployment
XGrid is among the latest projects from Power Ledger in the U.S. Moreover, it introduces the P2P decentralized energy trading model to the largest U.S. wholesale electricity market – Pennsylvania-New Jersey-Maryland Interconnection (PJM).
David Martin, Power Ledger co-founder and Managing Director, sees a huge potential of launching the project in the PJM market. “We believe PJM is a key market where the benefits of peer-to-peer energy trading can become mainstream,” he said.
Power Ledger has partnered with Clean Energy Blockchain Network (CEBN) to provide technical assistance for the XGrid deployment. Earlier, the two have worked on past project deployments with the Northwestern University in Chicago and Silicon Valley Power in Santa Clara, California.
PowerNet plans to immediately start the deployment of its xGrid solutions this month itself. It will work with local utility PPL while using their existing distribution system. Moreover, it will also use platform data from pre-existing meters to connect the solar assets. PowerNet will execute this without the need for additional hardware, software or engineering fees.
“This type of structure can benefit all parties involved,” Helm stated. “It can be recreated in any deregulated territory where a business site has excess solar generation.”
“We’re thankful to CEBN for the opportunity to work with American PowerNet and look forward to future deployments alongside them, following the successful completion of this trial. This project illustrates the growing customer desire to invest in clean, renewable energy and aligns perfectly with our goal to democratize power, globally,” Martin added.
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