Australian energy technology company Power Ledger and Japanese
Kansai Electric Power Co. (KEPCO) have completed a joint trial of a
blockchain-based system for post-FIT (feed-in tariff) surplus power in Osaka.
P2P transaction of surplus power
In an announcement published
on Aug. 12, Power Ledger revealed the test completion of a peer-to-peer
system demonstrating benefits for post-FIT surplus power in the
Japanese city of Osaka.
The system purportedly enabled KEPCO to
conduct a p2p transaction of surplus power autonomously and
automatically, which included settlements with digital currency. Fumiaki
Ishida, KEPCO representative general manager, commented on the
development:
“Although there are still many challenges
like amendments of relevant laws for commercialization, Power Ledger’s
product presents significant opportunities for prosumers to sell their
excessive energy at more advantageous prices and for consumers to buy it
at more affordable prices.”
Increasing blockchain adoption by energy sector
In July, Marubeni Corp., a major Japanese general trading company, revealed that it had begun backing a blockchain-based
power trading platform. The platform reportedly aimed to unlock tens of
billions of dollars in power generation to smaller projects in the
Australian electricity market, which is running out of major power
consumers that will buy large quantities over long periods of time.
The same month, energy network company E.ON filed
a patent application for a blockchain-based data collector with the
European Patent Office, which would allow consumers to purchase energy
services within a distributed system, in particular, could make for an
energy system that is more transparent, efficient and flexible for the
consumer.
source link
