The popular blockchain startup Power Ledger is currently launching a peer-to-peer (P2P) product for renewable energy. Power Ledger will be working with the company American PowerNet in Pennsylvania. The information was recently unveiled in a press release on Business Wire.

 

Power Ledger Deploys Trading Platform in the US

Power Ledger is a blockchain company leader in decentralized energy trading platforms. The company will be deploying its P2P renewable energy trading platform at American PowerNet’s headquarters located in Wyomissing, Penn. American PowerNet (APN) is a licensed retail electric provider in the country. APN provides retail and wholesale electric supply services throughout the United States.

The main intention behind this decision is to trade 35kW of solar power generated from its office roof and carport. The neighbourhoods connected in its office park will optimize clean energy for carbon reductions and lower electricity costs.

 

Scott Helm, President of American PowerNet, explained that it is possible to provide sustainable power to neighbours. The energy excess was previously dumped rather than inserted on to the national grid.

On the matter, Mr Helm explained:

“Rather than just dump our excess solar power on to the grid, we’re thrilled we can now provide clean, sustainable power to our neighbours. Power Ledger’s P2P platform will optimize the offering for all the participants.”

 

This deployment would allow regular people to participate in the growth of the industry and be able to improve the quality of the energy consumed. Power Ledger has also partnered with Clean Energy Blockchain network (CEBN) to provide local technical assistance with the deployment. CEBN aims at facilitating blockchain adoption, smart grid and advanced/smart energy data.

The main intention is to start deploying energy this month following the existing deregulation rules with the local utility company PPL. They already have a distribution system that would allow  Power Ledger to operate in an easy way.

Power Ledger Managing Director and Co-Founder David Martin, said that the Pennsylvania-New Jersey-Maryland Interconnection is a key market for P2P to become mainstream.

 

“We are appreciative of CEBN for the opportunity to work with American PowerNet, a pioneer in helping customers cut costs and carbon, and a company aiding us in our mission to democratize energy and provide cheaper cleaner power,” said David Martin.

Power Ledger has recently announced a new token known as Asset Germination Event (AGE). This virtual currency is designed to open up the renewable energy market to retail investors.

 

Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.