Power Ledger & Sharing Energy announce partnership to evolve renewable energy in Japan
Power Ledger announced a partnership to drive renewable energy trading in Japan alongside Sharing Energy Co. Ltd. Sharing Energy is a provider in the installation and provision of solar energy.
Power Ledger’s blockchain-powered platform will allow Sharing Energy to track renewable energy consumption from 100 pre-identified Sharing customers across Kansai, Chubu and Kyushu regions.
The project is expected to grow from 100 rooftops to over 55,000 rooftops by the end of 2020. There are plans to sell to consumers via interested third parties or following Sharing’s procurement of a retail license.
This partnership and project illustrate Power Ledger’s growing momentum in Asia. It also represents Power Ledger’s continued global progress towards combating carbon emissions and revolutionising the current global energy system.
“We are proud of the work we are doing in Japan, and the strides we are making in democratising energy across the globe. Especially given the increased effort by leading companies like Sharing Energy to embrace a new era of renewable energy,” said chairman and co-founder of Power Ledger, Dr. Jemma Green.
She added that “this partnership is an exciting example of how our blockchain technology can make visions of implementing scalable, renewable energy solutions a reality for partners and communities worldwide.”
With the proposed cuts to Japan’s feed-in-tariff (FiT) program in November, established in 2012 to incentivise investing in renewable energy, power companies and businesses are embracing a time of energy innovation and renewed interest in renewable energy initiatives.
In fact, Power Ledger is already working with the country’s biggest privately-owned electricity retailer Kansai Electric Power Company (KEPCO) to develop a Virtual Power Plant (VPP) model to help address Japan’s challenges with excess solar generation. And in accordance with the Paris Climate Goals, Japan committed to increase renewables and reduce its carbon emissions by 26 percent by 2030.
For this deployment, Power Ledger will initially provide near real-time usage data to Sharing, and from November onwards Sharing will use Power Ledger’s peer-to-peer platform to facilitate electricity trading between sellers and buyers using real-time data from existing smart meters.
It will verify the feasibility and scalability of P2P energy trading in Japan and allow Sharing Energy to conduct research on energy transactions via Power Ledger’s blockchain-powered platform.
This will allow Sharing Energy to effectively utilize clean, renewable energy within social systems like apartment buildings and businesses to promote a better energy system and lower carbon emissions.
“As our country is reevaluating how people and businesses buy and sell energy, we are fortunate to be working with an established leader like Power Ledger,” said Emiko Koga, president of Sharing Energy. “And we look forward to positively impacting the Japanese energy market alongside them and supporting their commitment to provide clean energy that is affordable and available to all.”