“This presents an enormous opportunity for traditional providers whose current model is in decline,” Ms Green says. “Over the next few years, battery storage will become cost competitive and will compete with grid electricity.  All this will reduce the utilization of the grid even more.

"Last month we reported on a similar experiment going on in a neighborhood in Brooklyn, New York.  But once this trial period is over, Power Ledger plans to begin a real world solar power trading system that will involve 80 homes in the South West area. That will be a world first, Green says."

"There are big opportunities for retailers and other market participants in leasing and co-ownership arrangements. according to Green.  Power Ledger has already been in contact with companies in Japan, Brazil, and New Zealand to deploy the technology, she says. 

"Clearly, the advent of private solar power is going to bring significant changes to the traditional electric utility model, and that’s a good thing,"