Solar Energy Trading – Peer to Peer Trading through Blockchain Technology – Revolutionary decision of the Karnataka Electricity Regulatory Commission
Solar Energy Trading – Peer to Peer Trading through Blockchain Technology – Revolutionary decision of the Karnataka Electricity Regulatory Commission
KERC has issued a draft proposal on 29.1.2024 to allow solar energy trading from peer to peer through block chain technology in the Karnataka State. If this decision is implemented, the electricity consumers will become “prosumers” by installing rooftop solar panels and directly sale excess power generated to other consumers.
The Draft Regulations “KERC (Implementation of Peer-to-Peer Solar Energy Transaction through blockchain-based platlform) Regulations, 2024” provide for registeration of prosumers and consumers and seek approval of distribution licensees to participate in peer to peer trading.
Such a trading will be dynamic and will change entire gamut of solar energy & its trading not only in the Karnataka State but adopted in the entire country since both the prosumers and consumers can set their prices. Other details of metering, framework, accounting and settlement are also provided.
