Perth-based start up Power Ledger has secured its first commercial deal for usage of its blockchain electricity tracking technology with New Zealand network operator Vector.
Perth-based start up Power Ledger has secured its first commercial deal for usage of its blockchain electricity tracking technology, with New Zealand network operator Vector.
The company, which is backed by local blockchain player Ledger Assets, is using the same technology underpinning bitcoins to follow point-to-point energy movements across grids, with a virtual trial to soon be under way at a lifestyle village in Busselton.
It is intended to enable owners of commercial solar panels and other distributed generation assets to put their excess production into the network and track usage.
Today’s move will result in the technology being rolled out to as many as 500 sites in Auckland.
That would range from schools and community groups to households.
Vector also has a position in Australia as an energy technology company, having sold about one million electricity meters on the east coast.
Chief executive Simon Mackenzie said the trading platform would empower consumers to manage and profit from energy supply and demand.
“This is a natural extension of our exploration of new technologies with the emergence of a new electricity network that offers consumers greater choice and control over the sources of energy they use," he said.
“Even people without solar panels could buy power from their neighbours."