Power Ledger Expands Blockchain P2P Solar Trading To New Parts In India
Australia-based energy blockchain company Power Ledger has scored yet another pilot project in India to enable peer-to-peer solar power trading.
Power utilities in one of India’s largest states, Uttar Pradesh, recently announced a partnership with Power Ledger to execute a pilot project for blockchain-based solar power trading. Uttar Pradesh is among the largest electricity consuming states in India. A successful peer-to-peer power trading pilot project in the state would go a long way in formulation of blockchain-based power trading in India.
The pilot project will involve rooftop solar power projects atop government buildings in Uttar Pradesh. While details of the project remain sketchy, the modus operandi could be the following. Instead of using net-metering provisions (wherein surplus energy is injected into the grid) the participating prosumers will sell the surplus power to neighboring buildings with energy shortages and no solar rooftop projects installed.
The transaction will be facilitated through blockchain products developed by Power Ledger. The company claims that the project shall not require installation of any new hardware.
This is the second such pilot project secured by Power Ledger in India. The company recently announced a similar project with a power utility in New Delhi. In this case, the project involves 5-6 megawatts of rooftop solar power capacity atop gated communities located in a Delhi suburb.
According to BSES Rajdhani Power Limited, the prosumers can sell the surplus solar power to neighboring gated communities or back to the grid during times of supply shortage.
The Delhi project will be the first-ever blockchain power trading case in India, a market that is highly regulated and less evolved compared to western markets. If Power Ledger is able to able to successfully execute these projects, it will open up immense opportunities for the company in India which stands at the cusp of an EV revolution.
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