IoT-Enabled Peer-to-Peer (P2P) Trading of Rooftop Solar (RTPV) Power on Blockchain Platform in India

Abstract

Increased adoption of distributed generation, energy storage, and other IoT devices (such as smart meters) is working to generate new opportunities for centralized control operations and energy markets. Blockchain provides businesses and IoT devices with a potential route to better navigate these changes by optimizing the use of ever-increasing volumes of energy data and providing organizations and individuals with new ways of transacting and building a trustworthy energy transaction management network without the need for a central authority. Using IoT-enabled smart meters, P2P trading systems provide a virtual platform where prosumers and consumers may trade electricity at a mutually agreed-upon price without the need for an intermediary. India Smart Grid Forum (ISGF), in collaboration with Power Ledger, has demonstrated two successful first-of-their-kind pilots in Southeast Asia in India. The first pilot project in Lucknow, Uttar Pradesh, went live in December 2020 with 12 participants, and Tata Power Delhi Distribution Ltd. (TPDDL) went live in January 2021 with over 65 prosumers and 75 consumers. Based on the various trading rules that have been used since the pilots started, it has been demonstrated that a network access charge for the DISCOM may be included in this type of trading scenario, incentivizing the DISCOM to allow P2P energy trading among their customers while also promoting widespread adoption of smart meters across the country.