Crypto Startup, Power Ledger Brings P2P Energy Trading to Largest US Market

Crypto Startup, Power Ledger Brings P2P Energy Trading to Largest US Market

In its bid to bring blockchain technology closers to the mainstream audience, a blockchain project— Power Ledger, has announced the launch of its peer-to-peer trading product for renewable energy. The company made it known that this product will be launched in collaboration with “American PowerNet”.

Power Ledger

Power Ledger which is a public blockchain-based solution, aimed at providing renewable and cost-effective energy has commenced plans targeted at expanding its business into the U.S market. Since it’s a public blockchain project, Power Ledger also has their own cryptocurrency –POWR token.

Based on information sourced from the company’s website, the company’s vision was made known. The company aims for “an economy where households that generate electricity can trade with their neighbors and get a fair return on their investment. Where electricity is stable, affordable and available to everyone”.

According to a recent report, the company announced the launch of its product trading platform. The content of the report stated that:
“we will be launching a peer-to-peer (P2P) renewable energy trading platform at licensed retail electric provider American PowerNet’s headquarters in Wyomissing, Penn”

The report also made it known that the company has partnered with American PowerNet which has been described as an “independent power supply company providing retail and wholesale electric supply services throughout the United States”,

Energy Swapping

Based on the press release, it was made known that American PowerNet will use the Power Ledger’s xGrid platform to track and allow the swap/trade of solar energy generated between users. This has been described as the perfect avenue to save electricity cost.

American PowerNet president Scott Helm further explained this in a press release. He stated that:
“Rather than just dump our excess solar power on to the grid, we’re thrilled we can now provide clean, sustainable power to our neighbors”.