Blockchain-Driven Peer-to-Peer Energy Trading Network GridChain Launches: Home Solar Can Be Sold Directly to Neighbors
Australian energy tech company PowerLedger's GridChain platform launched in Sydney, allowing households with rooftop solar to sell excess electricity directly to neighbors, bypassing traditional electricity retailers.
Blockchain-Driven Peer-to-Peer Energy Trading Network GridChain Launches: Home Solar Can Be Sold Directly to Neighbors
Australian energy technology company PowerLedger officially launched the GridChain platform on January 6 in Sydney, allowing households with rooftop solar and energy storage systems to sell excess electricity directly to neighbors without going through traditional electricity retailers.
GridChain uses blockchain technology to record every energy transaction, with smart contracts automatically executing price calculations and settlements. In the first week after launch, 500 households in the pilot area completed over 2,000 transactions, with average electricity prices 22% lower than grid retail rates.
PowerLedger says GridChain will expand to Melbourne and Brisbane within 2031 and plans to enter the European market.
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