Decentralized Energy Trading Using Blockchain for Renewable Integration
DOI:
https://doi.org/10.63282/3050-922X.ICRCEDA25-136Keywords:
Blockchain Technology, Decentralized Energy Trading, Renewable Energy Integration, Peer-to-Peer Energy Trading, Smart Contracts, Energy Storage Solutions, Sustainability, Energy Market Innovation, Blockchain Security and Privacy, Energy Trading PlatformsAbstract
The increasing integration of renewable energy sources into the power grid presents both opportunities and challenges. While renewable energy is key to addressing global sustainability goals, its intermittent nature requires innovative solutions to ensure a reliable and efficient energy distribution. Decentralized energy trading, facilitated by blockchain technology, offers a promising solution to address these challenges by enabling peer-to-peer (P2P) energy exchanges, reducing transaction costs, and enhancing transparency. Blockchain provides a decentralized, secure, and transparent platform for energy trading, allowing participants to directly buy and sell renewable energy without relying on centralized intermediaries. This paper explores the potential of blockchain to revolutionize energy trading, focusing on its role in renewable energy integration, smart contracts, and decentralized energy markets. The paper also discusses the technical, regulatory, and economic challenges of implementing blockchain-based systems, along with real-world case studies and future prospects for blockchain in the energy sector
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