Power Ledger, an Australian tech firm is to run its second trial of blockchain-enabled trading in Kanto, Japan by December 2019. This news comes about a month after the firm completed its first trial in August this year in Osaka, Japan.
For this purpose, Power Ledger has teamed with Sharing Energy, a Japanese solar supplier, and eRex, an electricity retailer company.
In the Heart of the Japanese Economy
The Kanto region of Japan, a geographical area that includes the Greater Tokyo Area is the most important area for the Japanese economy; so much so that the region is one of the largest sub-national economies in the world, second only to California.
Power Ledger is all set to run its trial in the region where it would track electricity trading and surplus solar energy levels. This would be achieved by integrating a blockchain-based P2P platform with the smart meters of households in the Kanto region.
Energy for All
Power Ledger plans to assert through the trial the effectiveness of distributed energy systems. It aims to delineate that such systems are capable of lowering the prices of energy systems. The demonstration would highlight the role such systems will play in countering feed-in-tariff reduction which is to be brought into practice since October 2019, affecting about 500,000 solar energy consumers.
It has also been reported that the Power Ledger would allow people who participate in the trial to set prices and track energy in practicality, in order to demonstrate the settlement of surplus solar transactions.
Progressive for the Population
The trial would not only highlight the potential of distributed energy systems but would also make the people learn how to benefit from renewable energy investments. It would demonstrate to the masses a cheaper energy system.