Can the blockchain trading platform improve the efficiency of solar energy distribution?

In the process of photovoltaic development, the main problem of early development is technology and cost. How to reduce production costs through technological innovation so that photovoltaic can enter thousands of households without subsidies is the goal of many companies to improve their competitiveness and advance.

After photovoltaics enter the era of parity, large-scale photovoltaics will generate a large amount of electricity every day. How to reasonably digest the market and solve some of the transaction and transportation costs incurred is also an urgent problem to be solved.

Recently, Uttar Pradesh, India piloted a peer-to-peer (P2P) solar trading platform, which is a trading platform based on blockchain technology. In essence, a blockchain is a shared database. The data or information stored in it has the characteristics of “unforgeable”, “full traces”, “traceable”, “open and transparent” and “collective maintenance”.

It is reported that the pilot project will check the feasibility of energy trading through the blockchain or a distributed network of solar panels connected to the smart grid. In the smart grid, officials can track power generation, check electricity consumption, and trade electricity. In order to achieve efficient and convenient power transactions, reduce labor costs, and can be traced.

India, as one of the countries with the rapid development of photovoltaic installed capacity in recent years, has been growing rapidly in total installed capacity. However, the lack of suitable power buyers has caused many projects to be canceled after bidding, which seriously inhibits the development of photovoltaics in India. It also made many companies lose confidence.

The use of blockchain transactions to solve the problem of photovoltaic power consumption is also an active exploration in India to solve photovoltaic power consumption.