One of the leading electricity distribution companies that serve more than 7million residents in North Delhi, Tata Power is piloting the project of trading solar energy in collaboration with the Australian blockchain firm named Power Ledger and India Smart Grid Forum (ISGF).
The step by Tata Power Delhi Distribution Limited TPDDL is facilitating the adoption of renewable energy by rolling out the first live blockchain-based solar energy trading project in the capital of India.
Blockchain Technology Applications
The joint venture of Tata Power and the Govt. of Delhi uses Power Ledger’s blockchain technology to facilitate trading. Peer-to-peer trading of electricity from over 2MW solar capacity is mainly between multiple licensed consumers in North Delhi.
Blockchain technology has now craved the way to applications of multiple industries and is not confined to cryptocurrencies anymore. The project aims to develop the distributed energy infrastructure and trading resources that encourage consumers to produce and sell their excess rooftop solar power.
The Solar Energy Usage Project
Roughly, 150 sites include TPDDL locations and licensed customers that will use the platform to sell surplus electricity to residential and commercial sites with the benefit of P2P energy trades. Using Blockchain technology will allow transparent settlement of energy trades. The project will check multiple trading algorithms, dynamic trading, energy auction pool, etc.
Consumers already having Grid-connected distributed energy resources can directly participate in the P2P marketplace, which includes electronic vehicle charging stations, battery energy storage systems, etc.
“TPDDL is focused on building a utility for the future and transforming the power distribution space through innovative green technologies, collaborations, and initiatives. Today with growing rooftop solar power being available, we believe that P2P solar power trading can offer customers the flexibility to buy green power from those who have solar power in excess. We are happy to join hands with Power Ledger and ISGF for the capital city’s first-of-its-kind project. I believe this will pave the way for faster adoption of solar energy trading and will also empower consumers to become prosumers,” noted Ganesh Srinivasan, CEO of TPDDL.