HYDERABAD: City-based enterprise technology services provider, Abjayon has partnered with India Smart Grid Forum (ISGF) as a system integration partner for its pilot project for peer to peer (P2P) trading of rooftop solar power using blockchain technology.
Uttar Pradesh recently launched India and South-Asia’s first blockchain-enabled P2P trading of rooftop solar power. Uttar Pradesh Power Corporation (UPPCL), Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) and Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) host first of its kind pilot project involving energy generated from solar rooftop systems installed on buildings in Lucknow.
According to a press release issued by Abjayon, the project is being implemented by ISGF along with blockchain technology partner Power Ledger, Australia and Abjayon who supported the integration of blockchain platform with UPPCL’s billing system.
“This pilot project will demonstrate the feasibility of rooftop solar energy trading through smart contracts on the blockchain platform between prosumers with their neighbouring households. Power Ledger’s platform integrates the transaction data from the smart meters to enable households to set prices, track energy trading in real time and enable the settlement of surplus solar energy transactions,” said Reji Kumar Pillai, ISGF president.
Speaking on the occasion, Rohit Pareek, Abjayon vice president said — “Using this platform, prosumers can sell their excess energy to neighbours and also the energy doesn’t have to be transported from centrally located power plants which drastically reduces electricity transmission costs for discoms making the whole business operations very much viable.”