Power Ledger purchases 250kW solar asset to launch energy auditing system
Power Ledger has purchased a 250kW photovoltaic (PV) system from Perdaman Advanced Energy, a subsidiary of WA-based multinational Perdaman.
Power Ledger has purchased a 250kW photovoltaic (PV) system from Perdaman Advanced Energy, that will use a new data management and settlement system called PPA Vision.
The Maddington-based PV system will integrate Power Ledger’s energy data management and settlement system through a 20-year Power Purchase Agreement (PPA) to provide greater visibility on renewable energy sold to a consumer.
Power Ledger’s technology can be tailored to suit the needs of any energy market and build, and has a series of products to enable energy trading and facilitate renewable energy credit markets.
“Our trials with energy retailers and governments around the world have highlighted the demand for a product that enabled autonomous management and settlement of energy generation and consumption,” said Power Ledger Co-founder and Executive Chairman Dr Jemma Green.
The PPA Vision is designed for co-located renewable energy assets such as rooftop solar panels as well as cross-grid PPA supply arrangements.
“Traditional metering and billing systems can be inaccurate, Power Ledger’s technology prevents loss of revenue and overcharging simultaneously. Australia’s energy regulator is pushing for a new two-sided energy market, Power Ledger has the technology to facilitate this transition,” said Dr Green.
Generators can customize the energy tracking and trading software to suit the regulatory requirements of governments, local councils and businesses to assist them in reaching their renewable energy targets.
“Perdaman Advanced Energy’s involvement reflects our company’s multi-pronged efforts to create a better tomorrow by delivering clean energy solutions that bring down the cost of doing business in Australia and decarbonize our economy,” said Perdaman Advanced Energy Chairman Vikas Rambal.
For example, a business or a local council entering into PPA with a renewable energy generator can integrate directly with Power Ledger’s platform, however, those PPAs operating across the network would need to partner with an energy retailer.
Power Ledger is also able to integrate its technology with independent power producers, embedded network operators, asset developers and PV system owners.
The renewable energy that the Maddington asset generates will be tracked using blockchain technology to provide a verified audit trail for energy generated, energy bought from the grid, energy consumed and energy dispatched to the grid. The robustness of blockchain technology will help eliminate any potential errors in under or over accounting for revenue.
In addition to Power Ledger’s PPA Vision product, the asset will use Power Ledger’s environmental attributes product to automate the issuance of large scale generation certificates and to tokenize the certificates.
The sale was finalized in January 2019, with construction of an additional 150kw completed in October. The asset is registered with the Australia’s Clean Energy Regulator and was granted authority to operate by Western Power on 15 November.