Electricity provider American PowerNet (APN) will likely rollout energy trading technology across North America following a successful trial with Australian technology company Power Ledger.
According to a press release shared with Coin Rivet, the APN trial was the first time Power Ledger’s peer-to-peer energy trading platform was deployed in the US, with the PJM Interconnection powering 65 million people across 13 states and the District of Columbia.
By using Power Ledger’s blockchain-based xGrid platform, APN was able to trade solar power generated from the rooftop of its headquarters in Wyomissing, Pennsylvania.
A total of 43 MWh of energy was traded on the platform, with American PowerNet’s CEO Scott Helm stating that he was “delighted” with the results.
“This trial has demonstrated the value proposition of blockchain technology and we believe there will be significant interest from market participants.” He added.
— Power Ledger (@PowerLedger_io) October 13, 2020
Power Ledger Co-founder and Executive Chairman Dr Jemma Green said: “Our technology is proving to be compatible with existing large-scale electricity infrastructure like the PJM in the US and the National Electricity Network in Australia. This places Power Ledger in a powerful position in the market as a network-ready technology.”
Opportunities are also being explored for real-time tracking of renewable energy from off-site renewable generation for institutional customers, such as university campuses.
“During the past year Power Ledger has been working collaboratively with APN to run as a parallel system for verification of energy transactions, adjusting our platform to suit the needs of consumers,” added Dr Green.
Power Ledger’s technology was integrated with APN’s existing distribution system and solar assets by using data from existing meters.
Power Ledger has a number of projects in the US, including trials with Silicon Valley Power in California, assisting with verification processes for the Low Carbon Fuel Standard (LCSF), and renewable energy developer, owner, and operator Clearway Energy Group to develop a platform to trade Renewable Energy Certificates across the country.
For more news, guides and cryptocurrency analysis, click here.