Australian blockchain-startup Power Ledger, which allows its customers to sell generated electricity, has entered into a partnership with Japan’s second largest electricity producer. Kansai Electric Power Company (KEPCO) includes 164 power plants, employing more than 30 thousand employees.
“The fact that KEPCO sees the Power Ledger platform as a task solution is a clear indicator that the industry recognizes the inevitability of change. The energy industry, as a rule, is conservative. When they make a difference, consumers who rely on them should be sure that this is the right decision,” said David Martin, Managing Director of Power Ledger.
The partnership will be implemented as a test project using electricity generated by ordinary households. Homes in some communities will produce inexpensive electricity, and customers will be able to monetize their renewable energy sources through the P2P system, returning unused electricity to the grid and receiving money for it.
KEPCO expects that the generation of electricity will eventually shift to the consumer level, which will allow people to have their own “virtual power stations”, through which it will be possible to provide electricity to each other.
The test project will be attended by only 10 houses in the city of Osaka. KEPCO will monitor their activity so that before the expansion of the project, participants can properly work out the mechanism of its work.
“This test will give an important feedback on the technology and the possibility of its adoption by society. We are pleased that we have teamed up with KEPCO to implement our platform in Japan and to promote Power Ledger one step closer to our goal of democratizing electricity,” added Martin.
The Power Ledger startup has already achieved some success at home, having received funding from the Australian government to launch a similar project in the country. To date, the company has been cooperating with Orion Energy and the Thai Smart Park.