A project that demonstrates how peer-to-peer energy trading, enabled by blockchain technology, empowers consumers and assists DISCOMs to achieve their renewable purchase obligations (RPO).
Participants in the project
The average monthly savings for DISCOM compared to net metering
The average monthly savings for consumers compared to net metering
The amount of energy transacted in this pilot
In partnership with Calcutta Electricity Supply Corporation (CESC), the oldest fully integrated utility in India, along with India Smart Grid Forum (ISGF) and Powerledger facilitated the largest peer-to-peer (P2P) trading project with over 1,000 participants.
The objective of this project: demonstrate how P2P energy trading provides an opportunity for market-based mechanisms - an alternative to existing net metering schemes. It also looked to determine what value would be gained for both the end consumer as well as CESC.
With over 1,000 participants (213 prosumers and 788 consumers), a total of 742.53 GWh renewable energy was transacted P2P across four months,, providing the following financial benefits:
Trading P2P is a win for consumers, prosumers and the DISOM, compared to net metering. Prosumers on net metering achieved more financial benefits when switching to P2P trading, compared to switching to a feed-in-tariff.
When the buyers of renewable energy have access to the trading results in Powerledger’s platform, they can observe the results and adjust their trading preferences accordingly to gain the most benefit.
Consumers will generally save in P2P trading, but they may also choose to pay a premium if they have the option to buy energy that is localised and sustainably sourced.
A detailed report is being presented to the West Bengal State Electricity Regulatory Commission with the findings of this project and recommendations to enable P2P energy trading across the state.