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Power Ledger (POWR) Partners Silicon Valley Power to Track Renewables for Electric Vehicles

partnership jigsaw concept

The leading peer-to-peer marketplace for renewable energy, Power Ledger (POWR), announced on Wednesday morning (AEST) that they, along with their North American ally, Clean Energy Blockchain Network (CEBN), have partnered with the Californian City of Santa Clara’s municipal energy utility, Silicon Valley Power (SVP), in what marks a type of project never before entered into the Power Ledger blockchain energy trading startup.

According to the Wednesday announcement issued by the Australian-based Power Ledger team, “the project will link renewable energy production and storage with community-based charging of electric vehicles (EVs).”

Making this possible, of course, is the blockchain-based Power Ledger platform, which is capable of creating a “transparent, auditable and automated record of energy generation, storage and consumption.”

Power Ledger’s press release specified the following two proof-of-concept use cases that will govern their breakthrough pilot project with SVP:

[1] Integrating Power Ledger’s technology with a solar PV and battery-equipped six-storey parking garage – one of the largest public multi-storey EV charging facilities in California – so as to track and manage the “production and usage levels of low-carbon energy from Santa Clara solar and batteries.”

[2] To digitize the charging transactions generated by EVs parked at any of the parking facility’s 49 charging stations. By doing so, Power Ledger can better equip SVP with the ability to administer a Low Carbon Fuel Standard (LCFS) management system; a state-run initiative that, whilst potentially lucrative, is notoriously burdensome to adhere to.

And so, by providing SVP with a far more cost-effective accounting process (i.e., by integrating their blockchain technology), Power Ledger promises to help the municipal energy utility earn LCFS credits. See the below-video for more on the carbon credit scheme – as administered by California Air Resources Board (CARB).

Quelling any would-be questions about how Power Ledger can afford to integrate their platform with Santa Clara’s PV and the SVP electric power grid, they highlighted that this will be achieved by utilizing the API data from extant meters. Therefore, any additional hardware, software or engineering fees aren’t necessary.

We’re looking forward to using the Power Ledger platform to enable the tracking of carbon-free electricity from source to customer electric vehicles. This will provide a clear audit trail…that will allow for incremental [LCFS] credits while automating the entire process.” – John Roukema (Chief Electric Utility Officer, SVP)

U.S. Partnership Powers On

Power Ledger added that their North American partner, Clean Energy Blockchain Network (known as Helpanswers at the time of the February partnership announcement), will provide “local, hands-on technical assistance” to SVP.

This is consistent with their role in bringing Power Ledger’s technology to the U.S., just as they did last month when Power Ledger partnered Northwestern University in what was the blockchain energy trading startup’s inaugural commercial-scale project.

Bitcoin Cuts POWR Surge

At the time of their announcement (7:59 AM UTC+10) Power Ledger’s crypto token, POWR, resided at 3,892 satoshis (sats), and by 10:01 AM, POWR/BTC peaked at 4,052 sats; an increase of 4.1 percent.

In some unfortunate timing for POWR investors, the cryptocurrency slumped thereafter; failing to escape a sharp marketwide sell-off led by Bitcoin (BTC) and Ethereum (ETH).

Image From Shutterstock

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