Power Ledger Deploys P2P Renewable Energy Trading Platform in Largest U.S. Wholesale Electricity Market
Power Ledger today announced the deployment of its peer-to-peer (P2P) renewable energy trading platform at licensed retail electric provider American PowerNet’s headquarters in Wyomissing, Pennsylvania.
Power Ledger today announced the deployment of its peer-to-peer (P2P) renewable energy trading platform at licensed retail electric provider American PowerNet’s headquarters in Wyomissing, PA. American PowerNet’s headquarters will use the xGrid platform to trade solar power — garnered from both its office roofs and carports — with neighbors connected in its office park to optimize clean energy for both carbon reductions and decreased electricity costs. The deployment furthers Power Ledger’s goal of enabling a decentralized energy structure that allows regular people to actively participate in the growth of the industry and be accountable for the impact of energy on the environment.
“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,” said Scott Helm, President of American PowerNet.
“Power Ledger’s P2P platform will optimize the offering for all of the participants.”
The xGrid deployment is the latest U.S. project from Power Ledger and marks the introduction of its innovative P2P energy trading technology into the Pennsylvania-New Jersey-Maryland Interconnection (PJM), the largest U.S. wholesale electricity market. The deal was made through Power Ledger’s partnership with Clean Energy Blockchain Network (CEBN), who will provide local, hands-on technical assistance with the deployment. Past projects from this partnership include deployments with Silicon Valley Power in Santa Clara, Calif., and Northwestern University in Chicago.
American PowerNet plans to commence the deployment this month under the existing deregulation rules with the cooperation of the local utility PPL, utilizing their existing distribution system and connecting the solar assets by utilizing platform data from pre-existing meters without the need for additional hardware, software or engineering fees.
“This type of structure can benefit all parties involved,” Helm stated, “and can be recreated in any deregulated territory where a business site has excess solar generation.”
“We believe PJM is a key market where the benefits of peer-to-peer energy trading can become mainstream,” said Power Ledger Managing Director and Co-Founder David Martin.
“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.”
This American PowerNet deployment comes on the heels of Power Ledger’s recent announcement around its Asset Germination Event (AGE) token, a blockchain-based token that is designed to open up the renewable energy market to retail investors. The AGE token intends to open new sources of capital for energy projects and uses blockchain technology to maintain a secure asset and income register, with a view toward developing renewable energy infrastructure across the world.
To participate in Power Ledger’s North American deployments, please email email@example.com.
About Power Ledger: Power Ledger is the leading peer-to-peer marketplace for renewable energy. Using blockchain technology, the platform provides a transparent, auditable and automated market trading and clearing mechanism for residential and commercial businesses to decide who they want to sell their surplus energy to and at what price.
More information: www.powerledger.io
About Clean Energy Blockchain Network: Clean Energy Blockchain Network facilitates the adoption of blockchain, smart grid and advanced/smart energy data, control and storage technologies to improve the efficiency and resiliency of buildings, businesses and communities across the United States.
More information: www.cleanenergyblockchain.com
About American PowerNet: American PowerNet (APN) is an independent power supply company providing retail and wholesale electric supply services throughout the United States. APN is dedicated to providing industry-leading energy management expertise to commercial, industrial, and governmental entities.
More information: www.americanpowernet.com