Blockchain Solar Energy Trading to Soon Start in India

The Indian state of Uttar Pradesh is all set to begin the P2P blockchain solar power trading project in India. The project will be done in partnership with Power Ledger, a blockchain energy company in Australia. It is expected to be open for trial beginning March 2020. Uttar Pradesh is the largest and most populated state in India with increasing power demand.

During the trial period, rooftop solar residents will explore the options for the right prices, track energy trading and settle surplus solar energy transactions via smart contracts. Power Ledger’s blockchain-based platform will be integrated with smart meter systems to do so. This project will be launched to solve the intermittency issue related to renewable energy. It will be aimed at assisting small producers to find users for surplus energy and make renewable sources more viable. Once the trial run is successful, Power Ledger and the local government will work together to make policies and regulations to further support P2P energy trading.

The energy trading software will be used to buy and sell electricity in real-time. If you have a rooftop solar system installed on your premises, you can sell the excess energy to your neighborhood, through this platform. If you have battery storage you can store the energy and sell it at the peak to maximize your profit from the solar power your system generated. India too recognizes the potential of blockchain technology and the importance of a shared infrastructure to carry out related use cases.

About Power Ledger:

Power Ledger is a fast-growing tech startup that has developed one of its kinds of blockchain-enabled energy trading platforms to make energy markets more efficient. Starting out in 2016, today its proprietary software is currently being used in multiple countries including Australia, Thailand, India, Japan, and the U.S. Power Ledger’s solutions are aimed at making it easier and cheaper for people to choose energy from renewable sources. The firm has the experience of working in India and has announced the completion of a trial in the Dwarka region of South Delhi.