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A real pilot-platform implementation for blockchain-based peer-to-peer energy trading

Abstract:

The ever growing energy demand due to population growth, higher penetration of electric vehicles and smart appliances, as well as superior living standards, is a demanding incentive to the better utilization of conventional and renewable energy systems. Moreover, to facilitate the emerging requirements of prosumers to participate in the electricity market and monetise their efforts towards distributed energy deployment, traditional centralised energy trading architectures are no longer viable. In this context, blockchain-based ledger technology emerges as the most feasible solution which offers a peer to peer (P2P) energy trading platform providing a unique distributed local energy market model for beneficial energy exchanges among participants. This will represent a significant evolution for future smart grids. In this regard, this work provides a ground understanding as well as all the necessary technical details and procedures required to implement a pilot-platform P2P energy trading system based on blockchain technology. All the source codes have been uploaded and socialized. This may support academics and entrepreneurs at the initial development stage of these kind of initiatives.