UP govt introduces blockchain to allow trading of surplus solar power
The Uttar Pradesh government has introduced the blockchain technology to the rooftop solar power segment, allowing consumers to trade their surplus solar energy.
Two state power utilities — UP Power Corporation Limited (UPPCL) and UP New and Renewable Energy Development Agency (UPNEDA) — have launched the ambitious project as a pilot in select government buildings in Lucknow with installed rooftop solar power plants.
According to state energy watchdog UP Electricity Regulatory Commission (UPERC), Phase-I of the pilot project is expected to be completed in six months.
The pilot project drafted by UPPCL and UPNEDA will demonstrate the technical feasibility of peer-to-peer energy trade between rooftop solar photovoltaic (PV) ‘prosumers’ using the modern blockchain technology. Power consumers who also produce electricity through rooftop solar PV system are referred to as ‘prosumers’.
