American PowerNet, an independent power supply company providing retail and wholesale electric supply services throughout the United States, used blockchain to share the power generated by its solar installation with two neighbouring businesses in the same office park.
The peer-to-peer network spearheaded by 20-year-old electricity supplier American PowerNet and using technology developed by Australian startup Power Ledger, winner of Richard Branson’s 2018 Extreme Tech Challenge, allows two of American PowerNet’s corporate neighbours to buy the excess power generated by solar panels on its rooftop and carport.
The system they’ve developed collaboratively is configured to move electricity from PowerNet’s site to two small, privately held companies in the same corporate office park. The transfers are automated based on a set of rules defined by American PowerNet and its trading partners. The other businesses also receive bundled RECs as power is moved around the network.