As a promising alternative to make renewable energy more accessible to consumers and businesses, a P2P energy trading trial spearheaded by Senoko Energy reveals its potential to support Singapore's clean energy ambition. Tan Choo Kiat reports
Senoko Energy, together with ENGIE and Electrify, launched a pilot project in October 2020 that allows individuals and companies to buy or sell solar energy—using SolarShare, a peer-to-peer (P2P) solar energy trading platform that matched near real-time solar energy generation and energy usage.
James Chong, Senior Vice President, Commercial, Senoko Energy, shared at the SIEW Energy Insights that the SolarShare platform had successfully helped bring providers and consumers closer together by turning the buying and selling of solar energy into a reality. He remarked that, during the trial, the platform enabled participating consumers to source 43% of their electricity from solar power.
Mr Chong further highlighted that the use of a digitalised platform proved beneficial to the owners of solar panels: they can now list energy offerings at their preferred rates on SolarShare, which will automatically match them to prospective customers.
Using smart meters, consumers can see “dynamic” pricing of their green electricity rates, as they determine their own buying and selling prices through this digitalised marketplace.
In a discussion moderated by Anurag Chatterjee, Head of Sales for Renewables & Power Asia Pacific Energy Systems of DNV, Mr Chong noted that SolarShare can be further enhanced by the use of blockchain and energy storage systems.
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