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Blockchain Based Renewable Energy P2P Trading in Smart Grid
  • MISHAAL AHMED,
  • Abid khan,
  • Ibrar-ul haque
MISHAAL AHMED
Superior University

Corresponding Author:[email protected]

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Abid khan
Sir Syed University of Engineering & Technology
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Ibrar-ul haque
Sir Syed University of Engineering & Technology
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Abstract

the dramatic increase in demand of global electricity utilization has introduced various environmental and sustainability concerns for Conventional Energy Systems (CES) based on fossil fuels, which driving the global energy manufacturers to adapt new efficient and resilient energy systems. Presently the focus of the scientist and researchers is on the Renewable Energy based and Smart Grid system, which has potential to address the contemporary problems found in conventional energy systems. On the other side , Smart is a new technology, which allows the integration of clean energy sources such as wind, solar, geothermal, hydro, biomass, and tidal energy systems, ensuring energy availability at all times. The quintessential purpose of renewable technologies is to contrive a sustained community. Nevertheless, it has become a challenging concern for centralized energy systems or Smart Grid to integrate and coordinate enormous consignment of expanding users and connections. Consequently, blockchain has emerged as a resilient technology in various industries offering data integrity, trust between parties, data immutability, and secure communication, making it an auspicious technology for decentralized SG and RE criterion. In this research article, a blockchain based energy trade based modal on Peer-to-Peer transactions management presented. The main goal of the research work is to describe energy-trading model based on crypto wallets as a digital currency using smart grid and renewable energies. Moreover, electrical grid technologies, which implemented in blockchain energy based systems, will be analyze. Furthermore, contemporary challenges of industrial and commercial communities employing Renewable Energy found in conventional and centralized energy systems will be address.