Western Australian-based blockchain energy trading technology company Power Ledger has signed a three-year deal to install its platform across 10 residential developments to be built by Nicheliving in the Perth metropolitan region.
Power Ledger’s technology will be deployed with Connected Communities Energy, a joint venture between Perth’s largest medium density property developer, Nicheliving.
The deal will see the deployment of Power Ledger’s blockchain technology to Nicheliving’s flagship development, SkyHomes Inglewood development and future housing developments over the next three years.
“Nicheliving is the largest medium density developer in Western Australia to deliver blockchain technology to manage energy delivery and trading,” Power Ledger co-founder and chairman Dr Jemma Green said.
Starting with 62 apartments at ‘Sky Homes’ in Inglewood, the development will deliver 100 per cent renewable energy through an embedded electricity network and solar PV and storage microgrid.
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“We’re seeing an emerging trend of project developers considering more low cost and low carbon energy supplies during the design phase of their projects. Power Ledger’s platform incentivises homeowners to invest in solar energy infrastructure,” Dr Green said.
Power Ledger’s blockchain platform will track energy consumption and transactions, enable the residential developments to sell surplus solar energy to other residents to make the distribution of power more efficient and make the most out of the solar energy generated.
Power Ledger is already working with property developers to implement its energy trading software from the ground up, supporting solar and storage in people’s homes as well as in shopping centre developments.
“New homeowners are always looking for ways of reducing the upfront cost of providing power infrastructure and Power Ledger’s platform is available to help pay back a solar investment faster, while reducing the carbon impact of energy,” Dr Green said.
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“As part of its Smart Cities initiative, Connected Communities, Nicheliving was seeking a way to provide new homeowners with more sustainable and affordable energy in their new home. Power Ledger’s technology enables homeowners to lower their daily energy costs and unlock a new revenue stream by monetizing excess solar energy and reducing their reliance on fossil-fuel sourced power,” said Nicheliving Managing Director Ronnie Michel-Elhaj.
“The relationship with Power Ledger will help us deliver on our commitment to building more sustainable communities for Western Australian home owners,” he said.
Power Ledger’s platform is currently active in the National Electricity Network (NEM) in South Australia and anticipated to expand to the east coast within the next six months.
Power Ledger has active projects in several countries around the world including Austria, Thailand, Japan, Malaysia and the United States as well as a virtual power plant program in South Australia.
The company was recently asked to present to the Blockchain Congressional Caucus at Capitol Hill in the United States to demonstrate its energy trading technology with examples of its successful projects around the world.