Virtual Currency May Boost Australia's Grassroots Solar Trade
- Power Ledger has sold 57% of ‘power tokens’ since Sunday
- Panels now on 21% of suitable buildings Down Under: report
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An Australian company is introducing its own version of bitcoin that will let homeowners and businesses sell excess energy generated from their rooftop solar panels to neighbors, without a middleman taking a cut.
As of Monday, Perth-based Power Ledger had sold about 57 percent of the 100 million so-called “power tokens” offered at 8.8 U.S. cents a piece since Sunday. A $25,000 cap has been installed to discourage large entities from controlling the market.