For making use of the power sources more judiciously, and amping up the way to innovation, there has been a new development by BSES.
This development literally brings in the virtue of sharing at its core and through it, people would be able to trade and share power.
This progressive historical agreement took place in Delhi, where the Delhi electricity distribution company (discom) BSES made it public that BSES Rajdhani Power Ltd (BRPL) has shook hands with Australian Power Ledger, to give birth to a consumer-to-consumer (peer-to-peer, P2P) solar power trading. This is was currently launched on a trial basis.
Making solar power transfer by making use of this blockchain technology is definitely something applaudable too.
A statement released by BSES reads that all those with or without a solar panel would be eligible for a solar power transfer. The credit for this goes to the exceptional blockchain solution that Power Ledger’s blockchain based platform has.
“A feasibility study has been successfully undertaken. The offering will rolled-out, once the regulatory approvals are in place,” it said.
“The pilot project will initially be carried-out amidst the existing and select group of gated community (CGHS) solar consumers in Dwarka who generate around 5-6 MW of solar-power. These consumers will be able to trade solar power their neighboring apartments and buildings using this platform rather than letting it spill-back to the grid.”
As per Power Ledger, BRPL became the first Indian company (discom) to make use of its blockchain based platform for P2P solar trading.
The best part about this blockchain infused energy trading platform being the fact that even the ones without a solar panel infrastructure can ask for a power transfer. Having a rooftop solar panel is not a necessity or prerequisite to call in for a P2P power transfer.
“Thus, even consumers who don’t have roof-top solar will benefit by purchasing cheaper and cleaner electricity, compared to the slab-rate of the discom, which as consumer they would otherwise have to pay,” it said.
This solar power trading among those in the same distribution transformer is predicted to be of a more ideal transfer and loading of the distribution transformer (DT).
“The platform will give BRPL access to a cost-effective energy alternative during the times of peak demand pricing. Apart from this, the discom will also benefit by not having to purchase solar energy exported to the grid, gain revenue through transaction fee and wheeling charges as also create and actively engage in a two-way positive relationship with its consumer base,” the statement said.
A major benefit that is also the selling point of this operation power trade is that even in the absence of an infrastructure, the power transfer is a possible option.
Adding to it, the statement said, “This technology is a transactive layer that utilises close to real-time data from smart meters to facilitate the P2P trading environment. All that is required is access to solar power infrastructure – solar power panels installed on the roof of the house, or solar power infrastructure within the consumers” community.”
Many different sectors worldwide have been making use of blockchain technology. The face of Indian economy and the corporate world is changing by involving new and improved ways and means. Blockchain and artificial intelligence being one of them. These innovative techniques have been prevalent in the west for a while now and have yielded some amazing benefits. As of this decade the blockchain and it’s contemporaries have traveled their way to our country too. First it was the startups that tried their hand at this. Now the Indian Government is making a full fledged movement of adopting the blockchain. As per a report by Nasscom, about 50% Indian States are involved in blockchain initiatives.
Many in-house companies like Tech Mahindra have been involved in deliverance of ledger technologies to other countries worldwide too. The
Indian government has also made a move to blockchain for solutions in it’s defense sector. Moreover, there have been many setups and training programs by both private and public sector enterprises to spread awareness and induce mass usage of the ledger technology that blockchain is.
Source – TheOutlook