A suburb in Fremantle, Western Australia will see its apartment owners to be among the first in the country to trade solar power through a block chain according to cryptocoins news.
Landcorp, the development arm of Western Australia, developed solar-powered, one-bedroom apartments and are reportedly expected to be snapped up by predominantly young dwellers.
The apartment-owners will soon be able to trade any surplus solar energy over the blockchain developed by Power Ledger. Power Ledger is a Perth Startup that aims to enable owners of solar panels to sell excess energy. It beats the conventional model of selling excess energy for a lower feed-in tariff, which is then sold at a higher rate from the grid.
Landcorp is offering 3 apartments that will share 9 kilowatts of solar panels between them, along with a large 10 kilowatt–hours battery.
Power Ledger is already engaged in blockchain-based solar energy trading trials in the country. The local Australian startup picked a retirement village in Busselton, Western Australia, that allow users to trade excess solar energy among the users. The trial will also see raspberry P minicomputers put to use in order to track a house’s energy consumption. Energy meters will be fitted at 20 homes along the communal clubhouse. The actual installation of the technology is scheduled in 2017 in Victoria and Perth.
Featured Image Credit: Ian Muttoo