Categorized | Uncategorized

Australia Company Introduces Solar Bitcoin Currency

Australia Company Introduces Solar Bitcoin Currency

An Australian company is introducing its own version of bitcoin that will let homeowners and businesses sell excess energy generated from their rooftop solar panels to neighbors, without a middleman taking a cut.

As of Monday, Perth-based Power Ledger had sold about 57 percent of the 100 million so-called “power tokens” offered at 8.8 U.S. cents a piece since Sunday. A $25,000 cap has been installed to discourage large entities from controlling the market.

“This will make solar panels more viable financially and improve efficiency in the energy market,” Jemma Green, the company’s co-founder and chair, said in an interview. “It will also allow mum-and-dad investors who want to support renewable energy to buy small stakes in large-scale, community-owned solar projects.”

According to a RenewEconomy report in April, Australia’s solar power capacity “is expected to double over the next few years as households continue to invest in rooftop panels to reduce electricity bills and the large-scale solar sector takes off after years of promise.”

About 5.6 gigawatts of the nation’s total solar capacity of 6 gigawatts comes from rooftop panels, with the balance derived from large-scale projects, according to RenewEconomy. While at this stage they only meet about 3.3 percent of the nation’s total energy demand, the panels are on 21 percent of suitable Australian rooftops, the highest penetration of rooftop solar in the world, it said.

The tokens being issued by Power Ledger, started in May 2016, will also let solar farms sell electricity to individual customers, and apartment buildings and offices trade energy from their rooftop solar panels, Green said.

 
Read more at bloomberg…

Comments are closed.

How Many Solar Hours Are In Your Area?

Find Solar Potential in Your Location

Want to Learn More?

For more information, fill out the form below and a qualified solar panel installer will contact you.
First Name:
Last Name:
Email:
Phone:

Find A Local Solar Installer

Fill in your zip code to find installers serving your area or browse alphabetically
Zip Code:

RSS Solar Energy News

  • sonnen To Build Innovative Residential Energy Storage Community in the US October 18, 2017
    Each home in the new community will have solar PV and a sonnenBatterie installed, enabling every household to produce and consume most of its own electricity, according to sonnen. […]
  • Nigeria Asks World Bank, IMF to Scale up Renewable Energy October 18, 2017
    Nigeria has asked the World Bank Group and the International Monetary Fund (IMF) to scale up the provision of and access to renewable energy in order to deliver development results and meet global climate goals. Nigeria's position on renewable energy and regional integration was presented by the Minister of Finance, Mrs. […]
  • The Effect of Natural Disasters on Electricity Prices October 17, 2017
    Solar leasing promoters have long claimed that electricity costs will keep rising, but we haven’t see this happening – yet.  Actually, almost all of the standard generation sources are benefiting from lower costs – natural gas is low, coal is low, and nuclear is… well it’s not dramatically more expensive than it has been. There is no doubt in my mind, howeve […]
  • Listen Up: Running a Successful Local Solar Business October 17, 2017
    Large companies are predominant in most industries. But when it comes to rooftop solar installations, small is beautiful. Although there have been several large national-scale solar installers, in the aggregate the smaller, local companies dominate.  […]
  • Three Technology Trends and Their Effects on Data and Software October 17, 2017
    Companies using OSIsoft’s PI system gathered this week in London at the OSIsoft EMEA Users Conference to talk about the realities of what Martin Otterson calls the velocity, variety and volume of data in the modern business world. […]
  • A Helpful Roadmap for California's Certified “Smart Inverters” October 17, 2017
    Solar inverters are becoming more intelligent this year. California’s Rule 21, which is now partially in effect, governs the safety of PV arrays and their interconnection communications with the local investor-owned utility.  The rule has three basic phases, of which the first came into effect Sept. 8 under a draft resolution of the California Public Utiliti […]