Power Ledger and Project Brainstorm partner on renewable energy trading

Blockchain energy market provider Power Ledger has joined forces with Queensland firm Project Brainstorm, in a move to bring the benefits of renewable energy trading to Queensland residents.

Power Ledger uses blockchain technology to create an immutable record of energy generation and consumption, allowing consumers in strata-titled developments to buy and sell energy among themselves with confidence. Project Brainstorm, meanwhile, is a renewable energy systems provider that delivers an end-to-end package for residential and commercial developments looking to enter the distributed renewable energy marketplace.

The partnership will see Project Brainstorm add Power Ledger’s energy trading platform to its renewable energy product, enabling Queensland consumers to access the benefits of low-cost, low-carbon energy while selling excess energy to their neighbours. As noted by Power Ledger Managing Director David Martin, coupling on-site renewable energy generation with peer-to-peer trading gives residents of lifestyle villages and apartment complexes the opportunity to maximise the value of their renewable energy investment.

“In group residential developments, strata managers and consumers have the freedom to act as on-site energy utilities generating clean, low-cost energy from solar panels installed on properties within the embedded network,” Martin said.

“Energy trading greatly increases the financial return from installing rooftop PV because instead of selling it to energy retailers, residents can sell energy to their neighbours for more than twice what their retailer may be prepared to pay.”

“Solar already has a great payback for customers, but adding the ability to sell energy to your neighbours really makes installing solar make a lot of sense,” added Luciano Giangiordano, MD of Project Brainstorm.

“It’s especially attractive to the grey nomads, who can often spend months away from home touring Australia — instead of their renewable energy being spilled into the grid, selling power to their neighbours can help fund their holidays.”