20 energy firms create alliance for EV charging via UPI-like system in India
Aimed at facilitating seamless payment and transaction interoperability within EV charging networks
At least 20 energy companies have joined hands to create an alliance for an open energy network called the Unified Energy Interface (UEI), which is a unified payments interface (UPI)-like system for EV charging, the firms said in a statement on Friday. UEI is the recommended interoperability standard as per the Department of Science and Technology.
Aimed at facilitating seamless payment and transaction interoperability within EV charging networks, the alliance will help address interoperability challenges pertaining to EV charging and grid demand response by partnering with electricity distribution companies (Discoms).
The alliance includes member companies like ChargeZone, Pulse Energy, Kazam, Sheru, Trinity and Turbo, etc. “As the transportation sector shifts towards greater electrification, it's crucial to ensure that EV drivers can access charging infrastructure easily, regardless of their vehicle's brand or the charging network,” said Raj Kumar, Executive Director, Trinity.
Leading public policy think tanks and research organisations such as the Rocky Mountain Institute and the World Resources Institute, have also joined the consortium in an advisory capacity to advance the initiative. While ChargeZone enabled their chargers to be discovered and transacted over the UEI network, Kazam and Pulse Energy allowed their customers to discover, pay and charge at any of their chargers via the UEI network.
The alliance is committed to ensuring that the protocol in action remains relevant and adaptable to market needs, guiding technical evolution and governance. Reji Pillai, CEO, India Smart Grid Forum (ISGF), said that with UEI, “we could enable peer-to-peer (P2P) payments directly between the peers while the energy wheeling charges for the utility can be levied in the electricity bills by the utility”.
“This is going to unleash a green energy revolution in the country, particularly with 10 million rooftop solar PV systems being rolled out on fast track under the PM Suryoday Yojana,” Pillai added. The non-profit alliance is being formed to help fund the working group and any minimal infrastructure cost the network may have at the inception.
The cost will be equally split between all alliance members. To date, the network has facilitated 1.4GWh (watt-hour) of energy transactions across the entire network and is poised to grow 100 times more with more B2C apps expected to join the UEI network in July.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
Power of Compounding: How many years it will take to reach Rs 2 crore corpus if your monthly SIP is Rs 3,000, Rs 4,000, or Rs 5,000
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
01:29 PM IST