Government to launch facility soon with aim to boost renewable energy

The govt is set to launch a facility that will allow consumers to directly buy and sell electricity among themselves, with the amount adjusted in their monthly power bills.

Peer-to-peer (P2P) energy trading under the India Energy Stack (IES) will enable electricity consumers and prosumers — consumers who also generate power through renewable sources such as rooftop solar — to trade surplus renewable energy directly with other consumers, including across state boundaries. The transactions will be facilitated through a trust-based digital framework to ensure a secure, verifiable and scalable P2P energy network.

While the buyer will need a smart electricity meter, the seller must have a rooftop solar plant and a net meter to trade surplus energy. The two parties will be able to negotiate prices through a mobile application and complete the transaction. Officials said consumers will continue to receive their regular electricity bills and P2P energy trades will be reflected as cumulative adjustments within the discom billing system for both buyers and sellers. They added that the system will help prosumers easily sell surplus electricity, while buyers will get power at rates cheaper than those charged by distribution companies.

Source: TOI