Design of a Novel Solar Energy Market Model for Indian Scenario

Abstract

Restructuring plays a vibrant role in the area of power trading all across the globe. The main aim of restructuring is to provide electricity to the customer at competitive price. In India after enactment of Electricity Act 2003, Indian electricity sector is reformed up to some extent, but the main objective of making the electricity market fully competitive is not yet achieved. The main reason behind this is lack of financial resource for erecting conventional power plants. The use of renewable energy especially solar energy which is available in abundance may fill the energy gap and would also help in saving the environment. However, a new type of electricity market and operating mechanism need to be developed for trading of solar power. This paper proposes a novel market structure and operating mechanism for trading of solar power. In addition to this different key features, implementation steps and issues are addressed for the proposed model. This market model may help in to fulfill the promise of providing the electricity to all in India.