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Energy Trading Between Prosumer and Consumer in P2P Network Using Blockchain

Conference paper
Part of the Lecture Notes in Networks and Systems book series (LNNS, volume 96)

Abstract

Nowaday’s energy demand and energy production are increasing. Renewable energy resources will play an important role in managing future production of electricity due to an increase in the development of societies. The centralized energy trading system faces a challenge in terms of fair energy distribution. Centralized existing energy trading system totally relies on a central system or third party, because the third party has many drawbacks in the form of record tampering or record altering. The fair transaction is the main issue in the energy trading sector. When the bitcoin is introduced in the market, the trust of Blockchain technology is increased. We proposed a Blockchain based energy trading system in peer to peer networks. Blockchain technology provides trust, security, and transparency for energy trading. In Blockchain technology, there is no necessary need of the third party in the energy supply sector. In our proposed paper, we facilitate the prosumer who produces renewable energy and sells surplus energy to the consumer. We achieved transparency, accuracy, efficiency in our proposed paper. Using a double auction process, we obtain low energy price and acheived consumer trust in energy trading.

Keywords

Blockchain Prosumer Consumer Energy trading DSO Double auction Smart grid Peer-to-Peer network 

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.Department of Computer ScienceComsats University IslamabadIslamabadPakistan

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