Sharing , a Japanese renewable energy provider is set to enter into a partnership with an Australian energy trading company known as Power Ledger. This unique partnership will help Sharing Energy promote solar energy consumption and renewable energy usage in Japan. Power Ledger is a cryptocurrency trading platform that is working to decentralize the buying and selling of solar and renewable energies. According to Power Ledger co-founder and chairman, Dr. Jemma Green, blockchain technology is the revolutionary way they are implementing scalable, solar energy solutions worldwide between partners and communities. 

Blockchain Technology 

By using what is known as blockchain-based design, Power Ledger is able to track data and record of solar energy usage in real-time. This blockchain technology is a more efficient and permanent way to track information within a given set of data. The greatest advantage of this type of system is that it makes data nearly unalterable once it has been recorded. Any kind of tampering would subsequently cause data in other blocks to be changed, which is ultimately blocked and prevented in a blockchain design. The information within the blockchain system can also neither be destroyed nor copied. Essentially, this type of trading system enables companies to remain honest and authenticate the legitimacy of transactions made online via cryptocurrency. 

The Purposes of the Partnership  

To initially test the blockchain technology, 100 Sharing Energy customers will be pre-identified and elect to have their solar energy usage tracked. Through the partnership and the utilization of blockchain processing, solar energy usage will more efficiently be recorded and studied. It is through this process that Power Ledger is hoping to help democratize solar energy usage in the region. 

This first testing phase of just 100 households is expected to grow to over 55,000 by the end of next year. By the time of its completion in 2020, the project will also offer its solar energy consumers plans sold via third-party partnerships, in addition to Sharing Energy’s attainment of a retail license. Power Ledger’s influence has helped Sharing Energy invest in furthering their solar energy plans, as well as contribute to global solar energy and renewable resource goals.  

Through the use of a peer-to-peer platform, Power Ledger will be able to facilitate the buying and selling of solar energy in the region in real-time. Monitoring and verifying solar energy trading in this way not only allows for the transparency of such transactions, but also helps researchers determine even more efficient ways of providing solar energy in the future. 

Embracing a New Solar-Powered Era 

Companies all across Japan are embracing solar energy technology and helping to further the worldwide initiative to depend on renewable resources. Companies like Kansai Electric Power Company are working with Power Ledger to create a Virtual Power Plant in order to address current problems with Japan’s solar energy generation. As one of the country’s largest privately-owned electricity retailers, Kansai Electric Power Company is hoping to help Japan reach its goal of increasing solar and renewable energy and reducing carbon emission by at least 26 percent by the year 2030. 

President of Sharing Energy in Japan, Emiko Koga stated that their company is fortunate to work with Power Ledger, an established leader in the solar energy industry. She believes the partnership will impact Japan’s solar energy market in a positive way and supports their intent to provide solar energy to all residents in an affordable fashion. 

About Power Ledger 

Power Ledger is committed to providing solar energy worldwide. Working with Sharing Energy in Japan is just one of many endeavors the company has successfully pursued on its path to bringing reliable solar energy to consumers everywhere. By providing individuals, communities, and companies with access to solar energy through fair trading, Power Ledger is transforming how the market buys and sells solar energy resources. They work to make sure investors and customers alike receive the most stable and affordable solar energy. 

Resources: 

https://www.chepicap.com/en/news/6895/power-ledger-seals-japanese-partnership-with-leading-solar-energy-provider.html 

https://www.businesswire.com/news/home/20190122005263/en/Power-Ledger-Sharing-Energy-Announce-Scalable-Partnership 

 

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