Thailand is preparing new regulations to charge solar power producers in the country to curtail the effect of their excesses on the state-owned utility.
The Increase Of Blockchain Enabled Solar Power in Thailand
Blockchain technology has seen extensive growth in influencing every facet of the human society, while it has been more instrumental in transforming power generation in Thailand. There has been an increasing growth of independent solar power producers and also a huge market for them as Thailand now adopts it for generating their power supply.
An example of a firm into blockchain enabled solar power in the country is the BCPG, a subsidiary of the state-owned refinery, Bangchak partnering Sansiri to give blockchain linked solar power in Bangkok. The firms produce a 635 kilowatt of energy that can power a shopping mall and local communities.
Uthai Uthaisangsuk, a senior executive at Sansiri, stated that this project is the first solar power system which implements blockchain technology in ASEAN; this product, however, is said to be their first project. Sansiri expects its partnership with BCPG to yield 20 more projects in coming years.
Similarly, Banpu Infinergy, a firm that installs rooftop solar panel has also started developing its blockchain platform. There has been a considerable increase in the adoption of renewable energy in the country has it constitutes 15% of the power consumption in the country presently, and there is an expected increase in coming years.
The Impact Of The Wide Growth Of Blockchain Enabled Solar Power Installations
The growth of blockchain enabled solar power impacts the revenue generation of Electricity Generating Authority of Thailand (EGAT) negatively, as there is a need for the fund to maintain the national power grid and also the system.
As the government is set to adapt to the new surge in the use of blockchain enabled solar power, it is about to introduce new regulations to curb its impacts on the country’s utility provider. A feature of the new regulation will lead to extra charges on small independent solar power producers.
According to Viraphol Jirapraditkul, a member of the Energy Regulatory Commission, he stated that the fee would cover the cost incurred in maintaining and securing the power grid. At the moment, the rate to be charged is not yet announced.
Blockchain technology enables households to connect to microgrids to create a peer-to-peer transaction, buying and selling of electricity, eliminating the role of Electricity Generating Authority in the country.