Blockchain-Enabled Peer-to-Peer Energy Trade in Smart Homes in India

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Authors
Kumar Moorjani, Arun
Issue Date
2024
Degree
MSc in Financial Technology
Publisher
Dublin Business School
Rights
Abstract
This research examines the decentralised peer-to-peer energy trade model within the residential household grid in India using blockchain technology and solar energy generation techniques. It addresses the gaps in existing literature and examines the viability of fixed transaction prices, role of blockchain technology in securing these transactions and validating the feasibility of the model in the households of Uttar Pradesh. By leveraging the empirical data, the research highlights the economic opportunity for both the consumers and the prosumers of the energy trade. It also emphasizes the promotion of adoption of renewable sources for energy generation while resolving the energy theft and improving the overall efficiency of performing the transactions using the encryption aspect of the blockchain technology. The model aids not only in securing the transactions taking place over the grid but also presents a significant measure that should be undertaken towards sustainability. Ultimately, the research shed light onto the potential of the proposed system for revolutionizing the energy market in India, promoting technological innovation and encouraging environmentally conscious practices.