Sharing energy with your neighbours will soon be as easy as lending a cup of sugar or borrowing the lawn mower on the weekend. It's called peer-to-peer energy sharing and it's happening right here in WA.
The idea behind peer-to-peer energy sharing is simple:
It all starts with the electricity network. Our network is already there to interconnect two million customers and has the potential to be the energy trading platform that makes the concept a reality for Western Australians.
To tap into the potential of peer to peer energy sharing, homes and businesses will require advanced meters to track energy use then link it to blockchain technology to help buy, sell and trade excess energy.
Blockchain technology creates an online, decentralised ledger that autonomously and securely facilitates and records transactions. It’s what could help you securely and confidently buy energy from a complete stranger.
So it's really your decision on what to do with your excess energy…
Sell it to a neighbour who needs more energy for that pool pump? Why not?
Donate it to a local charity? That’s your call.
Keep it all to yourself? Sure.
With peer-to-peer energy sharing, you can take control of how you use your energy.
In White Gum Valley, near Fremantle, we have been involved in a peer-to-peer energy sharing trial led by Curtin University.
This trial involves 24 apartments where residents can trade excess solar electricity to their neighbours. The idea of selling electricity is not new - many households with solar sell their electricity back to the retailer.
However selling electricity on a local level is what peer to peer trading is all about.
Read on to find out more...
Peer-to-peer energy trading is happening right here in WA.
The RENeW Nexus project, led by Curtin University, involves about 40 households in Fremantle where neighbours can buy and sell their excess rooftop solar energy to each other.
So how is the grid involved in local energy trading?