Australian blockchain start-up Power Ledger will test peer-to-peer trading platform for solar electricity trading
The testing will be realized in Indian state Uttar Pradesh neighboring Nepal for now.
The pilot project will enable households to sale and purchase renewable energy from photovoltaic panels, yet on trial only for the time being. Neighbors with solar panel plants on their roofs will have chance to trade between one another through blockchain platform.
Australian company Power Ledger operating the trial service joined in public-private partnership project with Indian government. They will further cooperate and evaluate outcomes of the project. First phase of the project should be finished next March. The two sides will then assess whether and how the market works. Power Ledger and representatives of India are ready to complement environment and prepare regulatory precautions for further possible cooperation.
Trading is expected to work as a platform for electricity generating households to offer possible electricity surplus to grids for agreed price. Thanks to blockchain both sides could easily react so that an agreement would soon be reached. We can consider this step as a part of Indian strategy to support technology development.