Blockchain Opportunities for Solar Projects in Thailand

Asia Blockchain Review
July 10, 2019

In Thailand, the solar energy industry is still in its early stages. However, with more support from the government, the time is ripe for investments in solar farming projects and renewable energy production, all of which can be enhanced with blockchain technology.

Enhancing Solar Power Trading with Blockchain

According to a report by Pugnatorius, under the current legislative framework, the power to buy electricity lies with government agencies. Therefore, investors need to sign a power purchase agreement with either the Provincial Electricity Authority, the Metropolitan Electricity Authority, or the  Electricity Generating Authority of Thailand to establish new land-based solar energy farms. Alternatively, investors can opt to acquire off-market solar farms, buy existing solar farms, or harvest solar energy from rooftops.

However, blockchain technology can greatly assist investors in trading energy directly with buyers, eliminating the need for any middlemen, as blockchain can instantly measure surplus units that can be sold to other parties.

Blockchain Reduces Costs for Solar Energy Trading

Experts in the solar energy industry have revealed that with blockchain, buyers and sellers of electricity can carry out trading activities automatically, which means no extra fees or costs incurred by either party.

The rise of the solar farming industry also provides new opportunities for companies dealing with the Internet of Energy (IoE). This term refers to the adoption of the Internet of Things (IoT) technology in distributed energy systems, allowing users to optimize the efficiency of the generation, transmission, and utilization of electricity. 

In Thailand, the future of a peer-to-peer energy trading community is approaching, where citizens will be empowered to trade their energy directly using blockchain.


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