Blockchain-Based Peer-to-Peer Energy Trading

Objective:

To create a decentralized platform that enables households and businesses to trade surplus renewable energy (like solar or wind) directly with each other using blockchain, eliminating the need for traditional utility companies.

Key Features:

Peer-to-Peer Trading – Users can buy/sell energy directly without intermediaries.

Smart Contracts – Automate transactions, pricing, and settlements.

Real-Time Metering – Integrates with smart meters for accurate energy tracking.

Transparent Ledger – All trades are recorded on blockchain for auditability.

Dynamic Pricing – Market-driven energy prices based on supply and demand.

Tokenization – Energy units represented as tradable tokens.

Energy Wallets – Digital wallets for storing energy credits and currency.

Technologies Used:

Blockchain Platform: Ethereum, Hyperledger, or Energy Web Chain (EWC)

Smart Contract Language: Solidity (Ethereum) or Chaincode (Hyperledger)

Frontend: React.js / Angular for user interface

Backend: Node.js / Python for API handling

Smart Meters: IoT integration for real-time energy data

Token Standard: ERC-20 or custom tokens for energy units

Storage: Off-chain data (meter readings), on-chain trade records

How It Works:

Registration: Users (producers and consumers) register on the platform.

Energy Production: Producers generate renewable energy (e.g., solar).

Smart Meter Sync: Energy data is collected and verified via smart meters.

Energy Tokenization: Surplus energy is converted into digital tokens.

Marketplace Trading: Users list offers and bids; smart contracts match and execute trades.

Settlement: Tokens are transferred, and records are stored on the blockchain.

Usage: Consumers use purchased energy, and the cycle repeats.

Benefits:

Decentralization – Reduces dependence on central utilities.

Efficiency – Direct transactions lower costs and energy waste.

Transparency – Every trade is verifiable and tamper-proof.

Incentivizes Green Energy – Encourages local renewable energy production.

Lower Energy Bills – Consumers can buy at competitive prices.

Grid Load Reduction – Local trading eases pressure on the main grid.