29 Aug '17, 5pm

Virtual Currency May Boost Australia's Grassroots Solar Trade

Virtual Currency May Boost Australia's Grassroots Solar Trade

An Australian company is introducing its own version of bitcoin that will let homeowners and businesses sell excess energy generated from their rooftop solar panels to neighbors, without a middleman taking a cut. As of Monday, Perth-based Power Ledger had sold about 57 percent of the 100 million so-called “power tokens” offered at US $0.088 cents a piece since Sunday. A $25,000 cap has been installed to discourage large entities from controlling the market. “This will make solar panels more viable financially and improve efficiency in the energy market,” Jemma Green, the company’s co-founder and chair, said in an interview. “It will also allow mum-and-dad investors who want to support renewable energy to buy small stakes in large-scale, community-owned solar projects .” According to a RenewEconomy report in April, Australia’s solar power capacity “is expected to double ove...

Full article: http://www.renewableenergyworld.com/articles/2017/08/virt...

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