The UP government has introduced blockchain technology to its rooftop solar power segment and is the only state that has amended its regulatory framework to enable controlled P2P energy trading in India. The pilot project run by India Smart Grid Forum, was drafted by state power utility Uttar Pradesh Power Corporation Limited (UPPCL) and Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA).
"Power Ledger’s platform integrates with smart meter systems to enable households to set prices, track energy trading in real time and enable the settlement of surplus solar transactions in real-time through smart contracts executed on blockchain."
The pilot project will demonstrate the feasibility of Power Ledger’s platform to trade energy from rooftops with solar power to neighboring households/buildings.
The results of the pilot project will be evaluated in order to formulate appropriate regulations to promote P2P trading of solar energy in the state.