Power Ledger, A Democratization of Power

Power Ledger

The way we produce and consume electricity is changing. New technology is allowing us to make electricity at home, store it, and use it to power everything we do. But what’s really needed is the ability for people to trade excess energy locally, so a new support technology is needed and that’s Power Ledger.

What is Power Ledger?

Power Ledger Pty Ltd was officially formed In May 2016, based in Perth, Australia. Power ledger is an energy trading platform that allows consumers with solar panels on their roof to sell their excess electricity to their neighbors. The energy system of the past was a one-way street. Large-scale power stations that pushed electricity through networks to consumers who got what they were given at a price that they were given as well. The energy system of the future is far more complex with power stations, virtually on people’s roofs. Buying and selling energy with energy flowing in multiple directions between consumers and generators. The Power Ledger system can deal with that complexity. The energy market isn’t geared up to buy homegrown electricity any more than a supermarkets geared up to buy homegrown tomatoes. The Power Ledger’s platform allows consumers to sell energy directly to their neighbors. Meaning, it can transition to that cleaner greener more locally generated energy future. The other thing that’s great about this platform is that nobody gets left behind, even if you can’t afford to buy solar panels yourself, you can buy cleaner, greener, and cheaper solar energy from your neighbors.

Through Power Ledger hardware and an easy-to-use app, participants can trade a unit called Sparkz, which are backed by a blockchain bond called Power Tokens. The platform makes the trade easy frictionless and instantaneous. Trials have already been underway and a gaining momentum.

How Power Ledger's Works

Power Ledger’s first trial was at the national lifestyle villages in Busselton and that went from August to December 2016. There were 15 houses there, about half of which had solar panels and half didn’t. Power Ledger showed how peer-to-peer trading would work between what they call prosumers, people with solar panels and consumers, people that didn’t. Power Ledger demonstrated that people that didn’t have solar panels could purchase renewable electricity more cheaply than if they were to put by it from their energy company, and those that did have solar panels could get a better return. That was a very successful trial showing how Power Ledger platform could integrate into households.

What Makes It Work?

The Power Ledger’s platform is backed up by a team of passionate experts in their field. The team includes blockchain experts, full stack developers, and energy experts. The team not only experts in blockchain technology but also experts in the area it’s been deployed with energy training. The energy systems changing more and more, people are investing in their own energy infrastructure and manage their own energy supplies, so we need a platform that allows them to monetize their excess capacity and encourages more and more people into the democratization of energy.

Power Ledger’s Token

The token named POWR. POWR will be created as an ERC20 token on the Ethereum blockchain and will be integrated into Power Ledger as the primary interface token. It is fundamentally a protocol token that will not only provide access to the Ethereumpowered platform for users to purchase electricity with it (or through their local utility) but also act as a reward or incentive to electricity producers and consumers who settle their production and consumption through the platform.

Useful Links
Bitcointalk ThreadWebsiteTelegramTwitterFacebookSlackRedditMedium.

Posted by:
TedMosby – Bitcointalk.