Indian utilities have announced the launch of a third pilot project for peer-to-peer trading of solar power based on blockchain technology.
Tata Power Delhi announced that it will collaborate with Australia-based Power Ledger to launch a pilot project where prosumers can trade solar power with neighbouring buildings.
The pilot will cover 150 sites with prosumers having rooftop solar power systems selling excess power to neighbouring residential and commercial consumers. The transaction will take place through Power Ledger’s blockchain technology that offers a near-real-time settlement.
If successful, the project will open doors to multiple other applications. Underutilized EV charging stations equipped with solar power panels can sell excess power to nearby consumers, or charged EVs can feed power into the grid.
In 2019, Power Ledger announced a similar collaboration with another distribution utility in Delhi. BSES had announced plans to implement peer-to-peer trading of solar power between residential buildings using blockchain technology. The current status of this project is unknown.
Another project based on Power Ledger’s blockchain technology for peer-to-peer trading is underway in the state of Uttar Pradesh. In this case, solar power is being traded between government-owned buildings.
Tata Power has been the frontrunner in adopting new technologies. In 2017 it launched India’s first solar-powered carport in Delhi. Its sister company, which is among the largest private power generation companies, announced in 2019 that it would not commission any new coal-based power plants and would focus on renewable energy technology for further growth.