Peer-to-peer energy in developing nations

It’s estimated that globally 1.18 Billion people are living in energy poverty and 700 Million are living with no electricity at all. [1] Many of them are in rural areas with no chance of ever getting connected to a mains (Fossil Fuel) grid because the electricity/maintenance would be just too expensive. Enter peer-to-peer energy trading technology, coupled with cheap solar and storage. A technology that has the potential to lift millions out of energy poverty, especially those living in equatorial regions.

Established in 2015, SOLshare, in Bangladesh, has developed one of the world’s first solar peer-to-peer energy exchange platforms, allowing households with rooftop solar home systems to trade excess electricity in real-time. This technology enables users to become both producers and consumers of electricity, enhancing energy access in areas where traditional grid infrastructure is lacking.

The SOLshare platform is comprised of three key elements

SOLbazaar Platform: This is the core of SOLshare’s P2P trading system, which connects households and small businesses. Users can sell surplus energy generated from their solar installations to neighbours, facilitating a decentralised energy market.
SOLbox Meter: A bi-directional smart meter that allows for the measurement and trading of electricity between users. It supports mobile payments, making transactions seamless and accessible.
Mobile App: The SOLapp helps manage user energy and tracks consumption and trading activities, enhancing user engagement and efficiency.

SOLshare’s initiative has significantly improved energy access for rural communities in Bangladesh, where approximately 60 million people still lack reliable electricity. Some of these communities have never had access to reliable electricity. By enabling households to monetise their excess solar energy, SOLshare not only addresses energy poverty but also empowers local economies by allowing individuals to earn income through energy trading.

The company’s technology exemplifies the benefits of a shift towards decentralised and sustainable energy solutions. The Fossil Fuels industry to this day claims that renewables can’t power the world, but if history has taught us anything it’s centralised Fossil Fuels can’t power poorer regional areas. While this technology is most applicable in rural areas it can be deployed in cities to help combat blackouts and rising electricity costs.

There are other similar initiatives happening in the developing world. I touched on another initiative in Africa in this article HERE. Also in Cambodia Okra Solar are deploying something very similar which they call a Mesh Grid. It can be quickly deployed, and in this case below, redeployed when needed. Someting that is increasingly important when it comes to Climate Change adaptation.

You can see other projects that Okra Solar are deploying around the world here: https://www.okrasolar.com/category/case-studies

It’s not just the developing world that can benefit from this type of Solar Micro Grid. In Australia remote communities that are currently dependent on diesel generators are now being powered by Solar and Batteries. These towns would also benefit from the addition of peer-to-peer energy trading as a way to save money and build more resilience into their micro grids. https://reneweconomy.com.au/horizon-slashes-diesel-use-with-solar-and-battery-microgrids-for-remote-towns/

Solar and Storage will 100% power equatorial regions, and beyond, in the the future. It will be cheaper and more reliable. It will allow for more energy independence and will dramatically reduce emissions. We just need to hit the accelerator pedal and get deploying these projects faster so they can benefit from economies of scale.

Notes*

The Bangladesh video is from Damon Gameau who embarks on a personal journey to explore what the future could look like by the year 2040 if we embraced the best solutions available today to improve our planet and wellbeing. https://theregenerators.org/2040/

You can read more about Mesh Grids here: https://cleantechnica.com/2024/04/05/the-potential-of-solar-mesh-grids-for-last-mile-electrification/

Other links:

Al Jazeera video on Solshare: https://youtu.be/v33ERl42VYM?si=U_dZvHwzlnZEmKuk

World Economic Forum video: https://www.weforum.org/stories/2018/06/rural-bangladesh-villages-transition-renewable-energy-sebastian-groh/