Osaka, JAPAN - August 2019: Power Ledger in partnership with Japanese utility, KEPCO, trialed a blockchain-enabled demonstration of P2P transaction for post-FIT surplus power in Osaka, proving the accuracy and consumer acceptance of Power Ledgerâ€™s leading-edge technology in Japan in addition to Australia.
The trial proved P2P surplus power transaction to be completed autonomously and automatically including settlements with cryptocurrency regardless of fluctuations of PV generation and customer demands. It can be deployed not only in detached houses but condominiums and microgrids.
KEPCO representative general manager Fumiaki Ishida said, “Although there are still many challenges like amendments of relevant laws for commercialization, Power Ledgerâ€™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.”
Power Ledger managing director David Martin said the successful outcome was built on Power Ledgerâ€™s previous work in Australia, Thailand and the United States.
“The success of the KEPCO trial is an extension of successful projects Power Ledger has deployed in other markets leveraging the ongoing development of our technology as well as the experience of working with major energy players like KEPCO,” Mr Martin said.
“Power Ledger looks forward to building on this success and continuing to work to support KEPCOâ€™s innovative plans to maintain its leadership position in the energy transition,” he said.
Power Ledger will continue the development of digital energy products designed to engage consumers to increase the penetration of distributed renewable generation capacity in Japan, while providing consumers greater choice over how their energy is produced and from where their energy is sourced.
About Power Ledger:
Power Ledger is an Australian energy technology company at the leading edge of the development and integration of distributed energy markets. Power Ledger uses blockchain technology to enable energy trading, renewable asset financing and more efficient carbon and renewable energy credit markets. Power Ledger was formed in May 2016 and is currently active in Australia, Thailand, the United States and India.
Founded in 1951, Kansai Electric Power Co. is a leading Japanese utility engaging in the provision of power supply, business and lifestyle solutions in its operational area of Kansai, Japan including the Kobe-Osaka-Kyoto megalopolis.
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Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.
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