Bunbury to sell excess power to neighbors

Australians with solar panels will be allowed to sell excess power to each other under a world-first regional program.

The trial, made possible by Blockchain, the technology behind the virtual currency Bitcoin, will allow participants in Bunbury - the third largest city in Western Australia - to sell excess power to their neighbors for between 5 and 20 US cents per unit.

Under the current system, consumers can only sell excess power back to providers for 5 US cents per unit but if they then need to buy more power they must pay 20 US cents per unit.