Blockchain startup Power Ledger partners with Japanese energy company KEPCO
Power Ledger, an Australian blockchain startup that allows its customers to sell generated electricity, has partnered with Japan’s second largest electricity producer. Kansai Electric Power Company (KEPCO) includes 164 power plants with more than 30 thousand employees.
“The fact that KEPCO sees the Power Ledger platform as a problem-solving method is a strong indicator that the industry recognizes the inevitability of change. The energy industry is generally conservative. When they make changes, consumers who rely on them need to be sure it’s the right decision, ”said David Martin, Managing Director of Power Ledger..
The partnership will take the form of a test project using electricity generated by conventional households. Homes in some communities will produce low-cost electricity, and customers will be able to monetize their renewable energy sources using a P2P system, returning unused electricity to the grid and getting paid for it.
KEPCO expects electricity generation to eventually move to the consumer level, allowing people to have their own “virtual power plants” that can power each other..
Only 10 houses in the city of Osaka will participate in the test project. KEPCO will monitor their activity so that before expanding the project, participants can properly work out the mechanism of its work..
“This test will provide significant feedback on the technology and its acceptance by society. We are delighted to have teamed up with KEPCO to bring our platform to Japan and take Power Ledger one step closer to our goal of democratizing electricity, ”added Martin.
Power Ledger has already had some success at home, having received funding from the Australian government to launch a similar project in the country. The company is currently collaborating with Orion Energy and Thailand’s smart park.
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