Sansiri and BCPG join force to pioneer the world’s largest realtime blockchain-based, peer-to-peer electricity trading pilot project at T77
Creating model of Smart Green Energy Community, generating clean energy for up to 20% of the community's overall electricity Lowering carbon dioxide emission equal to forestation of 400 rais Helping Sansiri residents lower electricity bills by 15% per unit by September 2018
Sansiri and BCPG jointly announced the successful implementation of the world’s largest peer-to-peer blockchain-powered renewable energy trading platform for residential project for the first time in Southeast Asia. Piloting at Town Sukhumvit 77 (T77), with official operation to start in September 2018, the new trading platform marked a strategic, cross-industry collaboration at macro level between Thailand’s leaders in real estate and renewable energy, pursuing the Energy Management for the Future strategy by turning ‘consumers’ to 'prosumers' as they both consume and produce electricity, and even sell excess solar energy to the member in the community, as they enter the age of ‘Green Sustainable Living’ in Thailand and bring alternative energy consumption development to the next level. The initiative allows consumers to use “Low Cost, Low Carbon” electricity and helps them cut electricity bills, lower carbon dioxide emission equal to forestation of 400 rais, generate clean energy for up to 20% of the T77 community's overall electricity, and clean energy produced from all generating units is expected to help Sansiri residents save electricity bills by 15% per unit. Sansiri planned to implement the platform in its 20 projects in 2018 under the goal to develop ‘Smart Green Energy Community’.
Mr. Uthai Uthaisangsuk, Chief Operating Officer, Sansiri Public Company Limited said that, “Sansiri strives to create Green Sustainable Living community with smart, eco-friendly energy-efficient initiatives by incessantly exploring new environment technology. In pursuing the Energy Management for the Future strategy, our key milestones is to implement renewable energy initiative in every developments. As solar rooftop technology is currently emerging, we have implemented solar power system in several ongoing developments. The strategic partnership with BCPG is taking our Green Sustainable Living agenda to the next level by implementing residential solar rooftop with blockchain-based, peer-to-peer energy trading platform tailored to suit each and every of Sansiri’s over 20 condominium and single house projects. The new platform marks a major step ahead for energy innovation development for residential project in Thailand and Southeast Asia, and is the world’s largest blockchain-based energy trading platform, leading to the disruption in energy distribution to bring sustainable living experience to our residents, and for the first time, allow them to become ‘prosumer’, as well as create unprecedented trading system in the energy market. Clear benefit for Sansiri residents living in the property with this technology implemented is cheaper electricity bill, as clean energy produced from all generating units will help Sansiri residents save electricity bills by 15% per unit, as well as taking an active part in helping reduce carbon footprint with the use of clean energy locally produced for up to 20% of the T77 community’s overall electricity, and lower carbon dioxide emission by approximately 530 tonnes per year, which is equal to forestation of 400 rais.”
BCPG and Sansiri recently installed solar rooftop with blockchain-based energy trading technology in trial stage at Town Sukhumvit 77 (T77), the company’s mega project development with a complete array of lifestyle activities and residential options located on an over-50-rai (20-acre) plot of land in the centre of Sukhumvit 77 in Bangkok. The system implementation, with official trading to start operation in September 2018, comes with total power generating capacity of 635 kW. – dividing into 54 kW for Habito Mall, 413 kW for Bangkok Prep International School and 168 kW for Park Court Condominium. In addition, Sansiri also installed the system in its precast factory with a capacity of 150 kW. By 2021, the company planned to install solar rooftop panels with blockchain-based energy trading in 31 new projects with total power generation capacity of 2 megawatts.
Mr. Bundit Sapianchai, President and CEO, BCPG Public Company Limited said that, “As a renewable energy leader in Asia Pacific, BCPG aim to creates sustainable future with our various partners to provide electrical power from different renewable sources in the most efficient way with innovative and intelligent technology. The pilot implementation of blockchain-based electricity trading platform at T77 under partnership with Sansiri and Power Ledger, the world’s leading pioneer in renewable energy trading platform from Australia, marks our first move in Thailand’s residential project and the first successful case of energy trading platform in Southeast Asia.
This allows Sansiri residents to become ‘active energy consumers’, or 'Prosumers' because they both produce and consume electricity, as well as trade excess electricity online within the community, and help them lower electricity bills by 15%.
Blockchain-based application allows users to trade electricity from renewable source in real time with peer-to-peer network, in secure and transparent manner. As a result, consumers can consume electricity at a lower price, help lower environmental impact, which addresses “Low Cost, Low Carbon” objective.
The pilot project at T77 is implemented in four buildings, with local energy storage and connection to the Metropolitan Electricity Authority (MEA)’s power supply grid. Load profile and electricity generation capacity can vary from building to building.
In initial stage, electricity produced from solar rooftop of each building will be consumed in its own building, allowing it to use electricity at a lower price. Excess electricity can be traded in the platform. Energy exchanging is fractional-second process, during which energy is generated and consumed differently in each building. While some buildings can produce more than they consume, others may consume more than they produce. Excess power from one building can be traded to another building that needs it on peer-to-peer platform, and if there’s still excess left, will be traded to the local energy storage. If the local storage is full, electricity will be transmitted to MEA’s grid. When needed, each building can purchase electricity on peer-to-peer platform from the local storage and MEA’s power grid, respectively. Blockchain technology helps process the right seller and buyer at fractional-second speed. Users can use BCPG’s trading application on both computer and mobile phone.
“The pilot electricity trading platform at T77 is among the world’s first and largest projects. In the first stage, the pilot project is expected to generate up to 20% of the community's overall electricity. In addition to bring power generation capacity and peer-to-peer power trading platform, solar rooftop installation is a value addition to each building and house and increase opportunity for seeking loan,” added Bundit.
Mr. David Martin, Managing Director and Founder, Power Ledger added that, “Our vision is to put the power to manage the energy economy into the hands of consumers, whilst maintaining the value of existing distribution networks. We aim to democratize power by bringing the benefits of our technology to consumers leading to lower power bills, better prices for excess renewable power, and use of cleaner energy. Using blockchain technology, the energy trading system provides an automated market trading platform for residential and commercial businesses to sell their surplus energy to who they choose and at their chosen price. The partnership with Sansiri and BCPG is the first move in Thailand and Southeast Asia in real estate industry that empowers consumers, communities and energy suppliers to work together to co-create their energy future.”
In electricity trading platform, each party can be both buyer and seller previously agreed on smart contract. The buyer buys electricity at the lowest price and the seller sells excess electricity at the highest price. The trading transaction will be settled through the Sparkz tokens, which is not affected by rates in cryptocurrency exchanges. This is the advantage of Power Ledger platform which can separate the access and exchange level into two processes – between consumers and BCPG, and between BCPG and Power Ledger, which eliminate the risk of cryptocurrency from consumers.
“Our previous successful implementation is our partnership with Western Power and Curtin University in Australia, and Northwestern University in Chicago, USA, where we use distributed ledger technology to facilitate electricity trading across the meter and to manage settlements without going through an electricity retailer, and allows peer-to-peer sharing of electricity between residents which we strongly believe that it will be successful in Thailand as well,” added David.
“The key objective in implementing world-class technology for clean energy is not to generate revenue for electricity trading, but to create an unprecedented living experience and sustainable living community in Thailand and Southeast Asia, which we believe can serve as a success case of electricity trading platform in residential project or community at macro level, and drive Thailand forward in embracing energy democracy, which has been proven a successful concept in many countries. This initiative also helps reduce the government's investment in building large-scale power plants to meet the growing demand for electricity. Sansiri will continue to seek further strategic partnership in developing environmental technology and real-estate innovation in realizing our “Green Sustainable Living Initiative”, concluded Uthai.