Powerledger targets over 3 million peer-to-peer prosumers by 2030

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This is one of the promises that the Australian blockchain pioneer Powerledger made as part of their commitment to the 24/7 Carbon-free Energy Compact initiated by Google.

The Compact, initiated in partnership with Sustainable Energy for All and UN-Energy, lays out a set of principles and actions that signees commit to in order to adopt, enable and advance 24/7 carbon-free energy, focusing on hourly decarbonisation of local and regional electricity grids.

Powerledger, one of the few start-up signatories to date, has committed to achieving complete decarbonisation of its total energy consumption through 24/7 carbon-free energy by 2025. Where possible the company will develop clean self-generation or otherwise will purchase renewable energy directly or in the form of RECs.

The company has also committed to work towards expanding peer-to-peer energy trading networks to over three million prosumers by 2030 through partnerships and project development as well as decarbonising and verifying clean sourcing of 20% of global cryptocurrency by that date.

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Other 2030 commitments are to help the digitisation of 20% of global clean energy systems, networks and marketplaces and enhance the integrity of 20% of environmental commodity markets through proactive engagement and working with the relevant stakeholders and making available its products and services.

These include a blockchain platform with use cases including peer-to-peer, flexibility and environmental commodities trading.

“Powerledger is delighted to be a founding signatory of this initiative alongside Google and others including Iron Mountain, the city of New York and the Government of Iceland,” said Powerledger CEO Dr Jemma Green.

“The movement to 24/7 renewables with hourly matching through PPAs and RECs is the best solution to scale renewable energy because it puts a price signal on when and where power is needed and supports an energy system that is stable, low cost and low carbon.”

The 24/7 Carbon-free Energy Compact is one of a series presenting voluntary commitments to support the achievement of the various goals of Sustainable Development Goal 7 on universal access, clean cooking, energy efficiency and renewable energy penetration.

Signatories range from countries to NGOs to private sector companies, with well in excess of 100 compacts submitted to date.