News and Announcements
Power Ledger partners up with Silicon Valley Power Grid
- Published June 22, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Power Ledger is partnering with Silicon Valley Power Grid as part of the Clean Energy Blockchain Network.
- The partnership is working on a solution to give drivers of electric vehicles incentives to charge their vehicles during the day to relieve steep incline in the evenings.
- Power Ledger aims to address the ‘duck curve’ where there is a dip in demand during daylight.
- Power Ledger platform is seeking to track the movement of energy from solar farms to a multi-story vehicle charging facility.
Power Ledger is partnering with Silicon Valley power grid to work towards giving drivers of electric vehicles the incentive to charge their ride during the day rather than at peak times. Power Ledger, founded in 2016, is an Australian blockchain- based energy trading company. The company raised $34 million in its first coin offering in October 2017 and have made Partnerships with US company, Helpanswers and Japans Kansai Electric Power Co.
The new partnership with Silicon Valley Power Grid will help the current problem of sharp increases in grid electrical demand at night. The solution by Power Ledger and Silicon Valley Power grid is to encourage electric vehicle owners to charge their cars during the day. Power Ledger’s blockchain technology facilitates this by tracking solar power from solar farms to electric vehicle charge points. The solution will see the tracking of energy from solar farmer to the Silicon Valley power grid and allow cars to charge in a municipal carpark during the day, relieving the large steep ride in grid demand during the evening. Having the digital record will reduce time and cost of processing low-carbon fuel standards credits. This partnership is part of the Clean Energy Blockchain Network and is Power Ledger’s first carbon credit project.
About Power Ledger
Australia’s first token sale is disrupting the energy sector. POWR token allows you to access the Power Ledger energy trading platform. Start selling power from your own solar panels, or just pay less for your energy bills by purchasing your power directly from your neighbour. Power Ledger is bringing peer-to-peer energy trading to the world.
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