What is Power Ledger
Power Ledger is a blockchain-based peer-to-peer energy trading platform enabling consumers and businesses to sell their surplus solar power to their neighbours without a middleman. To do this, Power Ledger will create an Energy Marketplace where each unit of electricity is tracked from the point it is generated to it’s consumption. This will allow renewable energy asset owners to decide who they want to sell their surplus energy to and at what price.
Building strong connections
Although Power Ledger is a relative newcomer in the blockchain industry, the team has gone above and beyond to develop strong corporate connections before launching the POWR ecosystem. Their team and product were ready for widespread usage long before they launched their ICO in mid 2017.
- Dr Jemma Green – Co-founder and chair of Power Ledger. Starting her career in Finance with JP Morgan in London, Dr Green returned to Australia to complete a PhD in Disruptive Innovation where she now holds a research position at Curtin University in Perth, Australia. Her research included citizen utilities and the way apartment buildings could use solar and batteries in combination, leading to the creation of Power Ledger. She currently also holds the position of Deputy Mayor of Perth, largest city in Western Australia, and is a board member of the Water Corp, Heritage Perth and Carbon Tracker.
- Bill Tai – Board Adviser. With a Masters in Business Administration, Finance & Economics from Havard, Mr Tai holds many prestigious positions including Chairman and Co-Founder of Treasure Data inc, Board member for Bitfury Group and Voxer as well as being a Adjunct Professor of Innovation & economic Development at Curtin University in Perth, Australia.
- David Martin – Co-founder and managing director. Mr Martin has previously worked in corporate divisions of Western Power, Horizon Power & Future Effect, all of whom are major energy utility providers in Western Australia.
- John Bulich – Co-founder and director. Mr Bulich is also the co-founder and executive director of Ledger Assets, a blockchain architect enterprise.
- Vinod Tiwari – Manager of sales & Business Development. Mr Tiwari comes to Power Ledger from his previous position of General Sales Manager with Perth Energy.
- Kristian Myhre – Energy Systems Specialist. Mr Myhre comes to Power Ledger from his previous position of Energy Analysis Manager with Horizon Power.
Walking with electricity giants
- Power Ledger has been awarded funding by the Australian Government for a Smart City Project. The project will allow blockchain technology and data analytics to integrate distributed energy and water systems including, a large solar photovoltaic plant, rooftop solar panels, a precinct sized battery, an electric vehicle charge station and precinct water treatment. Power Ledger will provide the transactional layer for the renewable assets as well as the ownership model for the community owned battery. Source
- Major partnership with Origin Energy Australia. While they haven’t announced key details yet, Power Ledger has announced that the partnership will involve customers using the platform to buy and sell excess energy. Origin Energy is one of Australia’s leading electricity and gas supplier with an estimated revenue of $12 billion in 2016. Source
- Partnership with Tech Mahindra India. Power Ledger technology will be a trading platform used in conjunction with microgrids across the India. Tech Mahindra Limited is an Indian multinational provider of information technology, networking technology solutions and Business Process Outsourcing to the telecommunications industry.
- Partnership with Vector Energy New Zealand. New Zealand energy and technology company Vector, and Australian blockchain energy company Power Ledger signed an memorandum of understanding to deploy Power Ledger’s energy trading platform, allowing people to buy and sell power without using an electricity retailer. Source
Around the Globe
- Power Ledger was featured at the 3rd Annual Blockchain summit, hosting by Richard Branson. Huffington post reported that “Her (Dr Green’s) firm taps the power of singularity and decentralization in the Blockchain, as well as underscores the ability to harness renewable energy in ways (and in places) never thought possible. Fractionalizing urban energy is as important to human adaptation and development, as building a rural energy matrix that incorporates micro grids and new distribution and payment models. PowerLedger is well on the way toward solving this challenge and Blockchain will be at the center of both.” Source
- Power Ledger was a finalist in the Extreme Tech Challenge at CES 2018. CES (Consumer Technology Association) is a global consumer electronics and consumer technology tradeshow that takes place every January in Las Vegas, Nevada. Source
Australia’s Electricity Crisis
- A Volatile History. Australia’s energy supply is among the world’s costliest, dirtiest, and in recent years most unreliable. With electricity prices up 63% since 2007 and with most electricity wholesalers expected to announce additional hikes in December 2017, the Australian power industry in ripe for disruption. With the number of solar panel installations increasing and energy companies reducing feed-in tariffs, this will open a new market for peer-to-peer electricity transmission. Source
- The Tesla Connection. While it isn’t possible to draw a direct connection between Elon Musk’s Telsa at the current stage, it is a known fact that Tesla has displayed an active interest in the Australian energy sector. Tesla is currently nearing completion of the world’s largest battery in South Australia, and Power Ledger’s media team has stated that Elon has specifically asked for a technical briefing of POWR. Source
Toward the future
- POWR tokens are the protocol token and the means by which value is transferred in the Power Ledger ecosystem. POWR is an ERC20 token, meaning it is built on the Ethereum blockchain protocol which governs how the token is stored and shared. The POWR token is the core currency and is required to purchase electricity and sell in the Power Ledger ecosystem. POWR’s value is derived from the usage of the Power Ledger ecosystem.
- Asset Germination Events – These are events whereby POWR token holders can purchase a fraction of ownership of a renewable energy asset (such as a solar, wind or battery farm), be allocated its revenue accordingly to its share of the asset, and even trade their ownership with other POWR holders. Power Ledger aims to deploy this application in 2018.