Thailand’s Blockchain Solar Power Producers Face Extra Fees

Blockchain-enabled independent power producers in Thailand pose a threat to the state-run power generator and distributor.

They will be required to pay extra fees in order to cushion the state utility from the disruption. According to Viraphol Jirapraditkul, a member of Thailand’s Energy Regulatory Commission (ERC), new regulations are currently being drafted. These will be seen the blockchain-enabled solar power producers charged extra. A view of assisting the Electricity Generating Authority of Thailand withstands the impact of competition. This is set to the growth of independent power production in the country booms.

Sharing the Burden:

Initially reported by the Nikkei Asian Review about the proposed fee, the blockchain-enabled power producers will be charged. This is used to cover the expenses that the Electricity Generating Authority of Thailand incurs in securing and maintaining the grid. “The number of household solar rooftop power generators are increasing rapidly. That’s why the ERC needs to develop regulation fair for everybody,” said Jirapraditkul.

However, no information has been provided regarding how much the solar power producers will be charged or even when the fees will come into effect. In the previous report, Thailand has seen a growing number of firms using blockchain. This will assist homeowners and other independent power producers. For making money from the solar panels mounted on their roofs by enabling blockchain-based peer-to-peer marketplaces. This will affect cutting the Electricity Generating Authority of Thailand out of the market. Read Forex Market Is Ready To Go To Blockchain?

Consumer-Friendly and Environment-Friendly:

Late last month, Australia’s blockchain-based P2P energy marketplace, Power Ledger, started trials in Bangkok. This allows homeowners to sell the excess solar electricity they generate as well as by the same when experiencing shortfalls. The trials are being conducted in partnership with BCPG, a unit of government-owned oil refiner Bangchak.

According to the managing director of Power Ledger, David Martin, this will not only be good for the environment but also for consumers’ pockets. “By enabling trade in renewable energy, the community meets its own energy demands, leading to lower bills for buyers, better prices for sellers, and a smaller carbon footprint for all,” Martin reported in an interview.

Rising Production:

Other initiatives include BCPG partnering with Sansiri, a real estate developer offering a blockchain-based solar power system in Thailand’s capital which has a power generation potential of 635kW. Additionally, solar panel installer Banpu Infinergy is also developing a blockchain-based platform. Currently, the amount of solar electricity generated by households in Thailand has reached 130 MW. By the end of this year, the figure is expected to hit 230MW.

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