Welcome to Peer-to-Peer (P2P) Energy Trading
You've heard of selling your excess solar energy back to State Grid via your Energy Retailer, but what about cutting out the middle man and directly Sell to your neighbour instead ?
The technology is now here, it's called "Peer-to-Peer Energy Trading", and it's fast becoming a reality in Australia, with start-ups across the country trialling ways to counter power bill hikes by putting the power of energy generation into the hands of producers & consumers.
BlockChain will be the secure ledger system that underpins P2P Energy Trading payment system, as it is one of the most reliable, used & proved system!
There are several alternative Ledger System for Cryptocurrency payments, these are the Top-10 Ledger system, where "Directed Acyclic Graph" (DAG), and IOTA are now looking like they may become the preferred secure ledger choice, due to the speed & nil to minimum cost's associated for transactions, where BitCoin has become slow to finalise transactions, it is now reported there's a $1 charge per transaction, deterring the use of Bitchain for most small P2P payments, if what the below videos state is true;
- Introduction of ARCH Cryptocurrency: Video-1,
- IOTA BREAKDOWN: The Tangle Vs. Blockchain Explained: Video-2,
- What is DAG Technology? An Alternative Ledger System for Cryptocurrencies: Video-3.
Either way, the Cryptocurrency used long term for Energy Purchases should allow consumers to contribute to solving the price spikes and demand shortages that plague the energy industry. As P2P Energy Trading evolves it will enables households with solar, energy storage and other forms of renewable energy, to sell frequency, capacity and ancillary services through their energy distribution company.
We believe P2P energy trading is the future and will become a disruptive force within the energy sector, and as such, we are focused on supporting and promoting the coming evolution of Energy distribution, where distribution and payment will simply be directly between the Producers & the Consumers, P2P Trading will cut out the price gouging middle man by the producer directly selling there energy to the consumer (neighbour/business) using secure and proven software like BlockChain, blockchain is said to be used by the Banking sector, and cryptocurrency like Bitcoin.
Unfortunately our incompetent bureaucrats and talk-fest politicians have let Energy Retailers lord over Australian consumers, to a point where Australia has the most expensive Energy rates of the developed world!
P2P Energy Trading is set to evolve as people become aware it provides better & farer energy rates, instead of paying the deceptively named "Energy Retailers".
In Australia Power Ledger is currently leading the way!