The inspiration for Power Ledger stemmed from co-founder Jemma Green’s PhD on electricity market democratisation. Funded by the CRC for Low Carbon Living (CRCLCL), Dr Green designed a solar and battery system for apartments (the first of its kind in Australia) and an energy trading platform to allow peer-to-peer trading using blockchain.
This foray into destructive innovation led Dr Green to co-found Power Ledger, a platform designed to ease the global transition to low-carbon energy by decentralising energy and allowing ordinary people to become investors in renewable energy assets.
“Our technology uses blockchain to enable energy trading, energy asset financing and carbon markets,” explains Dr Green. “Our corporate mission is the democratisation of power and the delivery of low cost and low carbon energy markets.”
Power Ledger allows consumers to sell and trade electricity from a residential energy generation system using a blockchain environment. Renewable energy assets are tokenized so they become tradeable on the secondary market. “Everyday people can invest in and co-own these assets, whereas previously it had been the domain of institutional investors,” says Dr Green.
This year, Power Ledger will launch their energy product: a grid connected battery and commercial solar farm. The company is also involved in issuing and trading on carbon credit and is currently working across four countries to tokenize carbon credit so it can be traded on the exchange.
Last year, Power Ledger was the winner of the Extreme Tech Challenge, and the team travelled to Las Vegas and Richard Branson’s Necker Island to pitch their business concept. Dr Green says the original CRC funding was a life-changing opportunity. “I’m enormously grateful for the risk the CRCLCL took investing in me. We’re a group of passionate experts in blockchain and technology at Power Ledger and with scaling and commercialisation, we hope to make a big difference to achieving the Paris climate goals.”
– Larissa Fedunik