Galactik Views, ‘Crypto Race – The Future Winners’, is a dedicated series where GV will cover the upcoming winners of the Private Digital Coins & Tokens. In the third edition of the series, we discuss, why Power Ledger will be one of the biggest winners of transformation in energy sector.
Paris agreement intend to keep rise in Global Temperature below 2 degree Celsius, preferably to 1.5 degree Celsius. Countries have to strategies to reduce their carbon emission and achieve the carbon neutrality. Power sector is a key focal point in the entire scheme of reducing emission target by gradually replacing larger part of fossil fuel with clean energy. By next decade, Global renewable energy market is expected to reach $2Trillion.
In Future, instead of large power grids run on the fossil fuel, their may be various small, mid and large players in the ecosystem. The players may be diverse and include the one who operate the large wind and solar farms to the one who are producing solar power on their roof set up. The players will be using the blockchain based technology to communicate and trade their powers for domestic and commercial use. In future, Energy trading will become more inclusive.
Block chain can disrupt the energy market, by enabling peer to peer transactions in way which have never been seen before. Today we purchase electricity from a centralised supplier and the process involves a lot of confirmations and verification, before the transactions can be completed. The Block Chain enabled energy platform can provide decentralised supply of power, transacted amongst peers, where all the parties to the transactions have access to distributed database providing verified record of transaction. Block Chain will enhance the speed of transaction, reduce cost as well as minimise the credit risk involved with the transactions.
Powerledger is the platform for servicing new energy market for tracking and trading of energy, environmental commodities and flexibility of services. Backed by technology, Powerledger is helping to reconfigure the grid from centralised system to distributed system, by providing necessary flexibility to the players of power ecosystem.
It has presence in 11 countries and is providing critical solutions related to trading renewable energy across grids or behind meter, marketplace for distributed energy, marketplace for selling energy certificates and credits, trading energy between each other’s. In India, Powerledger is partnering with Tata Powers.
Tata Power, India’s largest integrated power company has formed a JV with Government of Delhi, known as Tata Power-DDL. Company has partnered with Power Ledger, for using its blockchain-enabled platform for facilitating peer-to-peer (P2P) trading of surplus electricity, generated by the owners housing the roof top solar panels. Owners will be able to sell the surplus electricity to residential and commercial consumers in the licensed area of North Delhi, using the power ledgers software. Similarly, consumers will have the choice to select the supplier, and auditability and trail of the transactions will be ensured by Power Ledger software. Platforms will be connected to numerous supply and demand sources e.g. power grids, EvCharging stations, energy storage systems etc. UP in India has made legislative changes that all utilities in states must make provision for peer-to-peer trading.
In an interview given by Dr Jemma Green to Business Insider, Ms Green shared her vision for a decentralised network and the purpose of creating utility token, that works through various applications as well as jurisdictions. In 2017, Company raised US $26 million through initial coin offerings (ICO)
Presently Powerledger is developed on Ethereum platform, but will be transitioning to Solana based energy chain. However, this will not impact the tokens and ERC20 POWR tokens will remain on the Ethereum based public chain.
World is moving towards renewable energy. Power Ledger is uniquely placed to reap the benefits of global transformation in the energy domain. It is helping the businesses and consumers in transact power in a more transparent way and has a good presence in number of countries as well as state of art solutions for enabling the transition to cleaner energy. With the sustainability and climate as the central agenda in Europe, Us and Asia, we are set to see a transition from fossil fuel model. In such a scenario POWR can be a good investment bet.
At the time of writing, POWR is trading at $0.368984, with a market cap of approx.$168,842,004 (Coin supply: Approx. 458 million coin). Market cap on fully diluted basis will be $368,801,970 (Coin supply on fully diluted basis: 1 Billion coin)
(Source: Coinmarketcap.com)
Author: Anunay Kumar
Anunay is a well-rounded digital professional with 17 years of experience. His most recent stint has been with Creative Galileo (A fun n learn Ed tech startup) as Co-Founder and Head of Products. Anunay is passionate about latest technology which can bring change and add value to human lives.
He is reachable at anunay.kumar@onmail.com
Disclaimer: Views, thoughts, and opinions expressed in the text are personal, and not necessarily to the author’s employer, organization, committee or other group or individual.