UP Government Implementing Blockchain For P2P Trading Of Solar Energy

UP Government Implementing  Blockchain For P2P Trading Of Solar Energy
UP Government Implementing  Blockchain For P2P Trading Of Solar Energy
India Smart Grid Forum (ISGF) & The UP government has collaborated with Australia based company Power Ledger to introduced blockchain technology to its rooftop solar power segment and became the first state in India that has amended its framework to enable peer-to-peer (P2P) trading of energy.

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Initially the pilot project, which is expected to be completed in March 2020 & drafted by the state utility UP Power Corporation Power Limited (UPPCL) & UP New & Renewable Energy Development Agency (UPNEDA), will demonstrate the viability of energy trading with a handful of government buildings in Lucknow. 

And then, the results will be further evaluated to articulate appropriate law & regulations to promote Peer-to-peer trading of solar energy in the whole state.

India is a huge market and UP is the biggest state in India. According to ET, the rate of consumption of fossil fuels in India is growing faster than that of all major economies of the world. 

In efforts to save further increase in the use of fossil fuels, the Indian Government’s Ministry of New and Renewable Energy has pledge to install rooftop solar panels across the country (By 2022) that would generate up to 40 GW of solar power.

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Photo by Tom Fisk from Pexels

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