THE POTENTIAL FOR PEER-TO-PEER ELECTRICITY TRADING IN GEORGIA
Abstract
The global energy transition is fundamentally reshaping electricity markets, moving from centralized systems reliant on fossil fuels to decentralized, renewable energy solutions. Distributed energy resources such as solar panels and storage batteries are empowering consumers to become active participants in the energy market. Peer-to-peer (P2P) electricity trading, enabled by blockchain technology, presents a new model for consumers to trade surplus energy directly with one another, bypassing traditional suppliers.
This article explores the potential of P2P electricity trading in Georgia, a country with significant renewable energy resources but limited experience with decentralized energy systems. As Georgia aligns its energy policies with European regulations, the development of a P2P trading market could enhance energy security, empower prosumers, and drive local economic development. Through an analysis of global trends, technological innovations, and the current Georgian energy landscape, this article assesses the opportunities and challenges in implementing P2P trading. By building the necessary infrastructure and fostering public participation, Georgia has the potential to transform its energy market and contribute to a more resilient and sustainable energy future.
References
International Renewable Energy Agency, Renewable Energy Highlights, July 2024. https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2024/Jul/Renewable_energy_highlights_FINAL_July_2024.pdf
International Energy Agency, Solar PV. https://www.iea.org/energy-system/renewables/solar-pv
Georgian National Energy and Water Supply Regulatory Commission. (2023). Annual report 2023 https://gnerc.org/files/Annual%20Reports/Reports%20English/Annual%20Report.%202023%20ENG.pdf
Resolution of the Parliament of Georgia on approval of the National Energy Policy of Georgia, Annex 2 - Integrated National Energy and Climate Plan of Georgia, Registration Code 300280000.09.001.016790. Adopted on 27 June 2024.
Wolak, F. A. (2018). The evidence from California on the economic impact of inefficient distribution network pricing.
Klein, L. P., Krivoglazova, A., Matos, L., Landeck, J., & De Azevedo, M. (2019). A novel peer-to-peer energy sharing business model for the Portuguese energy market. Energies, 13(1), 125. https://doi.org/10.3390/en13010125
Views:
33
Downloads:
36
Copyright (c) 2024 Salome Janelidze
This work is licensed under a Creative Commons Attribution 4.0 International License.
All articles are published in open-access and licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0). Hence, authors retain copyright to the content of the articles.
CC BY 4.0 License allows content to be copied, adapted, displayed, distributed, re-published or otherwise re-used for any purpose including for adaptation and commercial use provided the content is attributed.
