As the benchmark oil futures contract in the United States fell into negative territory this week for the first fourth dimension in history, blockchain devs accept been focusing on greener, sustainable energy projects.

Australian blockchain firm Power Ledger has but signed a deal with the largest medium-density residential programmer in Perth to ringlet out its blockchain-based solar energy trading platform for local residents over the side by side three years.

On April 22, Ability Ledger and developer Nicheliving revealed that the platform volition initially curl out in 62 apartments in Nicheliving's flagship SkyHomes evolution in Inglewood, followed by ten further developments in the Perth metropolitan area.

At SkyHomes, the organisation will provide residents with 100% renewable energy via an embedded electricity network and solar PV and storage microgrid.

Power Ledger'southward blockchain platform tracks energy consumption and enables users to sell their surplus solar energy to other residents, with the aim of optimizing energy distribution and reducing the costs associated with investment and usage.

Nicheliving's managing director has said that the platform can assistance to incentivize homeowners to reduce their reliance on fossil-fuel sourced power by providing them with a new revenue stream from traded surplus free energy too as reduced daily consumption costs.

Power Ledger'southward co-founder Dr. Jemma Green has pointed to the platform's potential to assist developers pay back their solar investment faster, farther spurring the installation of sustainable energy infrastructure.

The deal between Ability Ledger and Nicheliving was signed as part of a joint venture, "Connected Communities Energy," which aims for the large-scale rollout of blockchain-based solar energy trading beyond Western Australia.

Blockchain for a green time to come

Before this month, Power Ledger partnered with a green energy network for over 220,000 electricity meters in France to install a blockchain tool that enables residents to customize their free energy mix.

Over the long-term, the firm has been developing its blockchain-enabled renewable energy trading platform and a series of associated tools that can back up energy trading, renewable asset financing and more efficient carbon and renewable energy credit markets.

In autumn 2022, it launched a trial for peer-to-peer free energy trading technology in rural areas of Commonwealth of australia, post-obit on from other commercial implementations in the aforementioned quarter.

Bookish researchers have also published detailed proposals for how blockchain systems can assist incentivize the smart management of renewable energy consumption.