Energy distribution firm Tata Power, in partnership with India Smart Grid Forum and Australian technology firm Power Ledger, has launched a first-of-its-kind peer-to-peer solar energy trading project in Delhi.
Power Ledger has provided its blockchain-enabled technology to facilitate peer-to-peer (P2P) trading of electricity from over 2MW of solar PV between multiple consumers in North Delhi.
This is the first live solar energy trading project in Delhi.
Under the project, an end total of about 150 sites that include Tata Power Delhi Distribution Limited’s (TPDDL’s) locations, as well as their actual customers with solar generation (prosumers) will be using the platform to sell their excess energy to other residential and commercial sites in a dynamic pricing environment, with benefits from P2P energy trades.
Consumers can choose which seller (prosumer) to buy electricity from, with Power Ledger’s blockchain audit trail of energy transactions providing near-time settlement and complete transparency throughout the entire process.
This project enables development of an integrated ecosystem of grid-connected, distributed energy resources including EV charging stations and Battery Energy Storage Systems that can directly participate in the P2P marketplace.
The project is part of efforts by the companies to accelerate the adoption of renewable energy technologies in India.
The pilot will run through June 2021 to gather information around trading algorithms including dynamic trading.
The results of the pilot will be used to provide regulators with recommendations on how they can promote peer-to-peer energy trading and the growth of rooftop solar PV in India.
This Project is aligned with the:
- International Solar Alliance: ‘To scale up solar energy, reduce the cost of solar power generation through aggregation of demand for solar finance, technologies, innovation, research and development, and capacity building’. This project will incentivise prosumers by giving them access to the market where they can sell their surplus energy. This will further scale up adoption of grid connected RTPV among customers.
- National Strategy on Blockchain, MEITY: P2P Energy Trading Project brings the revolutionary blockchain technology to the Indian Power Sector.
Power Ledger co-founder and chairman Dr Jemma Green, said: “India is on a fast-track to a greener power mix with aggressive renewable energy targets that include 100GW of solar energy, of which 40GW is to come from rooftop solar.
“Power Ledger’s partnership with ISGF and a major energy provider like Tata Power-DDL is a major milestone in advancing these ambitious targets and introducing the concept of energy trading to the world’s second-biggest city.”
Mr. Ganesh Srinivasan, CEO, Tata Power-DDL, said, “Tata Power-DDL is focused towards building a ‘Utility of the Future’ and transforming the power distribution space through innovative green technologies, collaborations and initiatives. It is always looking at how it can increase the services it can offer to its consumers. Today, with growing rooftop solar power being available, we believe that peer-to-peer solar power trading can offer customers the flexibility to buy green power from those who have solar power in excess of their own consumption. We are happy to join hands with Power Ledger and ISGF for this first-of-its-kind P2P pilot in the capital city. I believe it will not only pave the way for faster adoption of solar energy trading but will also empower our consumers to become prosumers.”
Mr. Reji Kumar Pillai, president ” India Smart Grid Forum, reiterates: “India is about to delicense power distribution business and make open access to retail customers enabling them to buy electricity from anybody from anywhere. In that scenario, blockchain platform for P2P trading of electricity will be a perfect game changer for the clean energy revolution in the country. We have already done another successful pilot project in Uttar Pradesh. The results of these two projects should instill confidence in the regulators to draw appropriate regulations for scaling up of P2P trading of electricity in India.”