Decentralized Energy Grid Provides Clean Energy Alternative

November 7, 2018 / by Angel Reyes

Disruption to the energy sector by renewable energies has been slowly building with increasing demand for wind, solar, and hydroelectric energy. Previously, bringing these energy infrastructures to developing economies was dominated by non-governmental organizations and government aid, but blockchain companies are now looking to guide the sector by providing a managed decentralized approach to emerging energy markets.

Power Ledger, an industry leader, is creating a blockchain to “better facilitate the disruption of the traditional energy system and bring distributed energy resources (DERs) into mainstream network planning.” said Vinod Tiwari. Power Ledger offers a platform for peer-to-peer energy transfer across the regulated electricity network (grid) and internal microgrids.

Energy can be locally generated, traded, and consumed in an efficient, scalable, and instant manner while maintaining the trustless aspects of blockchain technology. Energy transfers will be cheaper as consumption is close to the source, removing transportation costs — especially those associated with fossil fuels. All of this allows for a zero carbon emission energy infrastructure.

As a recent winner of Extreme Tech Challenge (XTC), one of the world’s largest startup competitions, Power Ledger is now planning to scale up from its startup size. With its newfound popularity, it should be receiving promotion and mentoring from major names like IBM and Amazon.

Recently announced Asset Generation Events (AGEs) will provide opportunities for investors to more directly own stakes in energy projects ranging from solar panels to wind farms. Designed as a security token, it promises an important step in managing a decentralized energy model.

POWR — Power Ledger’s existing Token — will remain tied to the value of the utility provided and can be used to participate in AGEs in the future. The new products will generate passive income and contribute to maintaining an intrinsic value in relation to the energy infrastructure they directly represent.

Power Ledger hopes to work within existing legal parameters to best allow for a constructive growth for the company. Laws involving individual homeowners using solar can be hard to navigate effectively. A distributed energy system provides a cheaper and more accessible option.

Power Ledger envisions a future of a widespread climate-friendly energy matrix. Across the world, small villages and cities alike will have increased autonomy over reliable and clean energy. It’s a big step away from today where development often leaves energy infrastructure to break and decay with no upkeep or education to accompany it.