International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 12 Issue: 05 | May 2025
p-ISSN: 2395-0072
www.irjet.net
Energy Trading Platform Using Blockchain Technology Rihan Saifi
Vikas
Raghav Singhal
CSE Department Ajay Kumar Garg Engineering College Ghaziabad, India
CSE Department Ajay Kumar Garg Engineering College Ghaziabad, India
CSE Department Ajay Kumar Garg Engineering College Ghaziabad, India
Rohit Dixit
Mr. Pronab Adhikari
CSE Department Ajay Kumar Garg Engineering College Ghaziabad, India
Professor Ajay Kumar Garg Engineering College Ghaziabad, India
----------------------------------------------------------------------------***-------------------------------------------------------------------------
Abstract—The rapid proliferation of decentralized dynamic nature of these decentralized resources, often leading energy re- sources and the growing demand for to inefficiencies in grid management, pricing disparities, and transparent, secure, and efficient energy markets have limited participation of small-scale prosumers. spurred interest in blockchain- based energy trading The current energy infrastructure faces several critical platforms. This paper proposes a decentral- ized energy challenges. First, the centralized nature of energy trading platform leveraging blockchain technology to distribution creates single points of failure and makes the facilitate peer-to-peer (P2P) energy transactions grid vulnerable to cyber attacks. Second, the existing pricing between pro- sumers and consumers. The platform mechanisms do not adequately reflect real-time supply and integrates smart contracts to automate trade execution, demand dynamics, leading to suboptimal resource allocation. settlement, and compliance with predefined energy Third, small-scale renewable energy producers often face policies, eliminating intermediaries and re- ducing barriers to market entry due to high transaction costs and operational costs. By utilizing a permissioned blockchain complex regulatory requirements. framework, the system ensures data integrity, traceability, and resistance to cyber threats while Blockchain technology has emerged as a promising solution maintaining scalability and low transaction latency. A to these challenges by enabling secure, tamper-proof, and prototype implementation is developed using transparent peer-to-peer (P2P) transactions. The Hyperledger Fabric, and its performance is evaluated decentralized nature of blockchain aligns perfectly with the under simulated scenarios with varying transaction distributed characteristics of modern renewable energy volumes and network sizes. Results demonstrate the platform’s ability to achieve near-real-time transaction systems. Several stud- ies have demonstrated the potential of processing (≤1.5 seconds per trade) and a throughput of blockchain in energy markets, but significant gaps remain in 350 transactions per second (TPS) while reducing terms of scalability, regulatory compliance, and practical energy costs for participants by up to 18% compared to implementation. conventional centralized markets. Additionally, the This paper makes three key contributions to the field: (1) a platform incorporates a dynamic pricing mechanism novel architecture for permissioned blockchain-based energy driven by real-time supply-demand metrics and trading that addresses scalability concerns, (2) a dynamic renewable energy availabil- ity, further incentivizing pric- ing mechanism that responds to real-time market sustainable energy practices. conditions, and (3) a comprehensive evaluation of the Index Terms—Blockchain, energy trading, smart system’s perfor- mance under various operational scenarios. contracts, decentralized systems, peer-to-peer (P2P), Our results show significant improvements over existing centralized solutions in terms of transaction speed, cost renewable energy, Hyperledger Fabric efficiency, and system resilience.
I. INTRODUCTION
II. LITERATURE REVIEW
The global energy landscape is undergoing a transformative shift, driven by the increasing adoption of renewable energy sources such as solar, wind, and distributed generation sys- tems. Traditional centralized energy markets, however, strug- gle to accommodate the
The integration of blockchain technology into energy trading has evolved significantly over the past decade. Early work by Mengelkamp et al. [1] established the feasibility of local energy markets through their Brooklyn Microgrid
© 2025, IRJET
ISO 9001:2008 Certified Journal
|
Impact Factor value: 8.315
|
|
Page 144