From pv magazine Australia.
Peer-to-peer energy trading specialist Power Ledger has said it recognized a need to introduce a blockchain-enabled product to provide greater transparency in data management, billing and settlement for solar assets supplying electricity under power purchase agreements (PPAs). The company’s new product, PPA Vision, will be launched at a 250 kW solar system in Maddington, Western Australia.
PPA Vision is designed for renewable energy assets such as solar rooftops and cross-grid PPA supply arrangements. At Maddington – which Australian company Power Ledger has bought from the Perdaman Advanced Energy subsidiary of Western Australian multinational Perdaman – PPA Vision will enable the autonomous management and settlement of energy generation and consumption under a 20-year PPA.
The product will track the electricity the Maddington project generates using blockchain technology to provide a verified audit trail for the energy generated, bought from the grid, consumed and dispatched to the grid. The results will help to eliminate potential revenue-calculation errors.
“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 Jemma Green, co-founder and executive chairwoman of Power Ledger. “Traditional metering and billing systems can be inaccurate. Power Ledger’s technology prevents loss of revenue and overcharging, simultaneously.”
PPA Vision appears to offer generators the option of customizing the software to suit regulatory requirements. A business or a local council signing a PPA with a renewable energy generator will be able to integrate directly with Power Ledger’s platform.
PPAs operating across a network will need to work with energy retailers and the technology can be integrated with independent power producers, network operators, asset developers and PV system owners.
In addition to PPA Vision, the Maddington PV system will also use Power Ledger’s environmental attributes product to automate the issuance of large scale generation certificates.