Energy banking
Energy banking lets a consumer buying renewable power through open access put surplus electricity into the grid when it is generated and draw it back later. The distribution company holds the surplus as a credit, for a charge, which evens out the gap between when solar or wind produce and when a factory consumes.
The national framework is the Electricity (Promoting Renewable Energy Through Green Energy Open Access) Rules, 2022, notified by the Ministry of Power on 6 June 2022 and amended in 2023.
The green energy open access procedure of Grid Controller of India (NLDC, May 2023), prepared under those rules, says banking is permitted at least on a monthly basis on payment of charges fixed by the appropriate commission, and that the quantity a consumer may bank is at least thirty percent of its total monthly consumption from the distribution licensee.
The working detail, including the banking charge and the period within which banked energy must be drawn, is set by each State Electricity Regulatory Commission in its green energy open access regulations, so it differs from state to state.