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PROJECT PROFILE
RENeW Nexus, Australia
Props Received:
308
Followers:
3810
Key Project Players and Roles
| Company | Technology Provider | Advisor | End User | Other | |
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Power Ledger
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Project Details
Project Country:
Australia
Project Phase:
--
Project Status:
--
Key Dates
Date Announced:
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Date Launched:
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Project End Date:
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Project Description
What does the project do and how does it work?
The RENeW Nexus project is managed through Curtin University and is supported by the Australian Government through the Smart Cities and Suburbs Programme. The pilot is believed to provide some innovative solutions for utilities working to balance energy supply and demand. This pilot focuses on deploying blockchain technology to enable prosumers to set their sell prices and consumers to set their buy prices to trade energy in near real-time. Further, blockchain technology is being used to track the transactions of all solar energy traded, and provide real-time insights into energy transactions, and allow consumers to view their usage in 30-minute intervals.
Who is involved in the project and why?
The trial of RENeW Nexus project is a joint effort among Power ledger, Synergy, Western Power, energy OS, and Curtin University. Power Ledger, a blockchain technology solutions provider, looks to find new areas to deploy their peer to peer energy trading platforms. Western Power, who operates and maintains grid in Western Australia, and Synergy, Western Australia's largest electricity generator, and retailer, are using energy management systems provided by energy OS. Following the completion of the trial, Curtin University will carry out research underpinning the trial and publish findings. The RENeW Nexus project is the first trial, using power ledger's peer-to-peer energy trading platform, to enable participants to set their prices.
Where is the project located and what is the size of the region of impact?
The RENeW Nexus project involves 40 households in Fremantle, Western Australia
What are the value propositions associated with this project?
This project allows consumers and prosumers to set their buy/sell price for energy traded on the blockchain-enabled peer-to-peer trading platform.
What is the problem statement that is being addressed with this project?
Blockchain technology enables residents to transact and trade energy at their prices. Further, this technology enables consumers to monitor their consumption and billing at a 30-minute interval.
Industry Applications
Innovative Technologies Incorporated in the Project
IN THE NEWS
Articles about
RENeW Nexus, Australia
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ADDITIONAL PROJECTS
Power Ledger
Project Associations
Project Name
Project Roles
Project Phase
Project Status
Date Announced
Date Launched
Project Location
Financial Partner
Pilot
Active & Operating
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United States
Advisor
Pilot
Active & Operating
May 1, 2018
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United States