Power Ledger is an amazing project with a great team who has recently earned one of the finalist spots for Richard Branson's Xtreme Tech Challenge.
Power Ledger is creating one of the first platforms to allow people to buy and sell electricity with each other without needing a middleman like TNB (retailer). I have written a short article about Power Ledger before. You can read it here.
However, I foresee a huge challenge ahead is this:
What is your strategy to get people to participate?
- Electricity producers would always want to sell at the highest possible rate. If you do not find the rate attractive enough, you likely won't produce electricity.
- Electricity consumers would always want to buy electricity at the cheapest rate possible. My experience has been so long as the price for "clean electricity" is more than what the general public currently pays, they will reject it.
That is why I am creating EMPOWER; an incentive-based system beyond platforms. My hope is to complement Power Ledger's efforts.
So long as you are producing renewable electricity, you should be rewarded.
So long as you are consuming renewable electricity, you should also be rewarded.
Thanks for the deep insight! Love to see how this will pan out!