Ethereum Based Smart Contract For Peer-To-Peer Energy Trading Using Blockchain Technology

Abstract

The deregulation of electricity market has paved way to new business models like peer to peer (P2P) trading. The renewable energy generators like Solar PV can sell the excess power and trading can be done dynamically. In this paper, a solution for energy trading is proposed based on blockchain technology and smart contracts. An algorithm is run on the Ethereum platform, which is linked to Ganache. The application was created in Solidity and tested on the EVM platform. The primary goal of this approach is to meet energy demand, making the energy market dynamic and decentralised. The transaction will be secure, and it also reduces the transaction cost and settlement times.