The Kaveri dam electricity dispute has had a significant impact on the economies of both Karnataka and Tamil Nadu. The power shortages caused by the dispute have forced both states to rely on more expensive sources of power, such as thermal power. This has increased the cost of doing business in both states and has made it difficult for them to attract new investment.
issues like these can be solved morever it promotes sustainablity and financial insentive for renewable energy owners and also provides a platform for comman folk to choose and trade with electricity
Morever Peer-to-peer (P2P) electricity trading using blockchain networks has the potential to solve a number of problems with the traditional electricity grid, including:
Centralization: The traditional electricity grid is highly centralized, with a small number of large utility companies controlling the generation, transmission, and distribution of electricity. This centralization can make the electricity grid vulnerable to disruptions and cyberattacks. P2P electricity trading can help to decentralize the electricity grid, making it more resilient and secure.
Inefficiency: The traditional electricity grid is inefficient, with a significant amount of energy lost in transmission and distribution. P2P electricity trading can help to improve the efficiency of the electricity grid by allowing consumers to buy electricity directly from producers, without the need for a central intermediary.
Lack of transparency: The traditional electricity grid is opaque, with consumers having limited visibility into the cost and environmental impact of the electricity they consume. P2P electricity trading can help to make the electricity grid more transparent, by providing consumers with real-time information about the price and source of electricity.
P2P electricity trading is a new and disruptive technology, and there is no clear regulatory framework for it
How to measure and verify the amount of electricity traded between peers
How to ensure that payments are made securely and efficiently
How to integrate P2P electricity trading with the existing electricity grid
making smart controller using raspberrypi and deploying smart contracts on it
Tracks Applied (2)
Polygon
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