The Energy and Resources Institute (TERI) has developed a platform to facilitate peer-to-peer transactions of solar energy among consumers in the same neighbourhood. The institute has developed a blockchain-based prototype in partnership with Sofocle Technologies, a Noida-based blockchain start-up.
The platform has been developed as a prototype for enabling a peer-to-peer transactional control in which electricity consumers such as residential premises, malls, schools or even small and medium enterprises can trade local generation of solar rooftop systems among themselves.
The objective is to demonstrate the concept of energy trading among rooftop solar system owners so as to facilitate the development of local electricity markets that will promote the adoption of rooftop solar, particularly in the residential consumer segment.
In the prototype, electricity subscribers can securely sign in to their accounts, set bids and quote their own price for locally generated energy. A separate portal for distribution utilities is also available for user and meter identity management.