• Bulk power generation centrally
  • Scattered power consumption
  • Hierarchical structure & monopolized market
  • Inefficiencies due to lack of competition
  • Power from grid as backup
  • Self reliance from Distributed power generation
  • Smart Grids & Microgrids
  • Electrification of mobility
  • From large utility scale power plants to small renewable power plants
  • Centralized to Decentralized generation and local power consumption
  • Bi-directional power distribution
  • Participative ecosystem
  • Power Exchanges facilitate OTC and Day ahead trades
  • P2P power trading facilitates real time power trade
  • Business models: Demand Response, Virtual Power Plant, Grid balancing, Flexibility markets
  • Onboarding of Peers
  • Bidding & Smart Contracts management
  • Execution of Power Trade
  • Validation of Trade
  • Settlement of Trade
  • Reporting

P2P Energy Trading

From being central generation to decentralized power generation, the energy systems are undergoing a rapid transition nationally and internationally. With the proliferation of rooftop solar system, electric vehicles and energy storage, grid based electricity is slowly becoming a backup supply. Further this decentralized approach has opened up numerous opportunities of trading and transfer of electricity between sources of distributed generation, load points and grid companies. Regulatory provisions such as net metering and open access are instrumental in facilitating such transactions through proper accounting and settlement mechanism. The proposed segregation of wire and supply of electricity will change the way electricity sector functions bringing in much needed competition and choice for buyers. However peer to peer trading will also lead to challenge of handling a very large volume of trades every minute. This challenge can be addressed using block chain technology, which is an open and decentralized ledger that allows users to get into instant contracts, track fulfilment and process settlements instantly. With increasing penetration of distributed power sources, the grid is being transformed like never before.

About Project

Project Objectives
  • Develop an IT systems platform that enables consumers to become prosumers
  • Work on a decentralized transaction model that enables peer to peer energy trading and eliminates the hierarchical structure of energy industry
  • Demonstrate the working model through field trials

Team Structure

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Timeline

  • Project Inception Meeting

    Aug 2018

  • Steering Committee Meeting

    Aug 2018

  • Blockchain Training

    Nov 2018

  • DST Update Meeting

    Dec 2018

  • Steering Committee Meeting

    Feb 2019

  • DST Review Meeting

    May 2019

  • DST TS IIMA

    Jul 2019

  • Brainstorming IIMA

    Jul 2019

Project Inception Meeting

Project Inception meeting and 1st Steering Team Meeting were held on 30th & 31st August respectively.All the academic and industry consortia partners participated in the inception meeting. All the partners deliberated and agreed on the scope of work.

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Steering Committee Meeting

Suggested to organize Blockchain training for the core project team. Consulted industry participants and refined key project deliverables. Sought commitment from industry for setting up test beds and field demonstrations.

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Blockchain Training

Organized a 5 day training cum workshop on blockchain for enhancing knowledge of core project team.

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DST Update Meeting

IIMA, MSRIT and IIT Gandhinagar participated in the update meeting.Update was given to the project review committee of DST.

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Steering Committee Meeting

Decision was taken to accelerate the development by using solutions available to the industry. Use cases for POC were finalized taking into consideration the feedback from industry partners. Selection criteria to be used for product development agencies defined.

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DST Review Meeting

Project progress was reviewed and found to be satisfactory Expert committee recommended to include system operator level use cases in consultation with POSOCO

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DST TS IIMA

DST convened a meeting between IIM Ahmedabad and Govt. of Telangana, to encourage collaboration for developing and demonstration of Peer to Peer (P2P) Energy Trading use cases, and highlighting the benefits of Blockchain, IoT & AI technologies for Energy sector. 

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Brainstorming IIMA

The use cases for “Prosumer Driven Integrated Smart Grid” project are being developed in consultation with industry and academic partners. A brainstorming session was held at IIM Ahmedabad on 21st & 22nd July to develop the core architecture for the P2P Energy Trading and Flexibility Aggregator use cases.

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Project Timelines