Blockchain Powered Energy Monitoring System

Abstract

With growing energy demand and advancement in technologies, it is essential to ensure security to the energy usage data and transparency in the transactions while optimizing costs and improving the efficiency of the processes. For this purpose, we have presented one of the emerging technologies called Blockchain technology, which is a highly immutable and cryptographically secured distributed ledger system, using which important transaction data, energy records and contracts are digitally maintained in real-time across a peer-to-peer network. In the current work, a blockchain-based prototype is proposed by integrating AMI and Ethereum smart contract to come up with a peer-to-peer monitoring system that will ensure transparency in energy usage and automation of the billing process. By this work, we aim to provide solutions to the major issues associated with the existing infrastructure of energy monitoring and billing systems like the manual intervention of billing process, overdue bill payment, illegal tapping of power lines and unethical selling of units by the electricity board.