Tata Power DDL, a leading power distribution company serving more than seven million people in North Delhi, is partnering with Australian blockchain company PowerLedger and the Indian Smart Grid Forum (ISGF) to lead a solar industry.
The pilot program, which will run until June, aims to develop the distributed energy infrastructure and e-commerce resources that will motivate consumers to become consumers – consumers who also produce – by selling surplus solar energy on rooftops in a peer-to-peer market. .
Using PowerLedger blockchain technology to enable transparent settlement of energy transactions, the pilot will test various trading algorithms, including dynamic trading, to create a range of energy auctions between consumers and consumers. Distributed grid-connected energy resources that can directly participate in the P2P market will include electronic charging stations and energy storage systems.
As reported, PowerLedger has previously partnered with private and public players internationally in a number of blockchain-based initiatives, including energy trading, renewable asset financing and renewable energy credit markets.
Both Tata Power DDL and ISGF are public-private partnerships: the first is a joint venture between Indian energy giant Tata Power and the government of the National Capital Region of Delhi, and the second is a think tank that includes government ministries, tools, technology providers and academic researchers.
ISGF President Regi Kumar Pillai said a pilot project in the capital and a similar project in Uttar Pradesh would give Indian regulators a practical idea of what it takes to expand P2P trading across the country:
India wants to reduce its distribution business and open access to retail consumers so that they can buy electricity from anyone, anywhere. In this scenario, the P2P blockchain energy trading platform would be an ideal precursor to the country’s clean energy revolution. ”
Gemma Green, co-founder and chairman of PowerLedger, claims that blockchain-based energy consumer trade can help India achieve its renewable energy goals, which include 100 gigawatts of solar energy, of which 40 gigawatts will come from solar panels on the roof.