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PROJECT PROFILE
Vector Ltd, New Zealand
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:
New Zealand
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?
New Zealand energy and technology company Vector and Australian blockchain energy company Powerledger signed an MoU to deploy blockchain-enabled energy trading platform. This blockchain-enabled energy trading platform will enable prosumers to trade excess energy among consumers without using an electricity retailer. Vector believes that this arrangement will empower consumers to better manage and profit from energy supply in Auckland.
Who is involved in the project and why?
Power Ledger, a blockchain technology solutions provider, looks to find new areas to deploy their peer to peer energy trading platforms. To support these deployments, Power ledger signed an MoU with New Zealand energy and technology company Vector. Vector Limited is an electricity and gas distribution company in Auckland, New Zealand. These deployments allow people to buy and sell power without using an electricity retailer.
Where is the project located and what is the size of the region of impact?
Power ledger and Vector Group are deploying this technology across 500 sites in Auckland, including schools, community groups, and households.
What are the value propositions associated with this project?
This project seeks to off-set power bills by allowing customers to monetize excess energy generation from solar panels and batteries. This excess generation is ideally sold to third parties within the network during times of high-output and low consumption. This arrangement empowers consumers to better manage and profit from their energy supply and demand.
What is the problem statement that is being addressed with this project?
Blockchain’s decentralized digital ledger technology serves as a transactional foundation for energy transaction occurring in its deployments.
Industry Applications
Innovative Technologies Incorporated in the Project
IN THE NEWS
Articles about
Vector Ltd, New Zealand
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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