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Western Australian Retirees To Cash In on Solar Power

Clean energy website Energymatters said a group of Western Australian retirees will soon be reaping in more than double the present standard feed-in tariff payment for their surplus rooftop-generated solar electricity.

There is a trial underway at the National Lifestyle Villages complex in Busselton that will enable the group to sell surplus energy from their solar panels directly to their neighbours. The trial is being run by power Ledger, a trading platform non-solar households and solar owners use to negotiate directly with each other, depending on their supply and demand.

The Power Ledger platform utilizes encryption and block chain technology to provide service, which pinpoint ownership of energy as it is generated and then manages trading agreements. Power Ledger teamed up with Ledger Assets, Australia’s largest block chain company in developing the platform.

In the Western Australian trial, electricity will be sold for $0.20/kWh, with the retirees receiving $0.15 and the remainder divided between Western Power and Power Ledger. Western Power receives a slice because it provides and maintains the poles and wires for the transmitted electricity.

As of present, the standard solar feed-in tariff in Western Australia is just $0.07/kWh. While solar can give an exceptional investment opportunity for retirees even without power Ledger, the platform could make it happen.

A New Zealand trial of Power Ledger is expected to get under way early next year across up to 500 sites across Auckland that will include schools, households and community groups.

Click here to read the full story on Energymatters

Featured Image Credit: David Goehring

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