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ISSN 2063-5346
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BLOCKCHAIN- A CASE STUDY IN PEER-TO-PEER ENERGY TRADING: A REVIEW

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Mrs. Sonal I Shirke , Dr. Payal Bansal
» doi: 10.31838/ecb/2023.12.s3.783

Abstract

Intelligent gadgets when are stacked on top of one another, smart residential and smart industries are created. They all require help from an intelligent power source in order for them to operate at their full potential. Peer-to-peer (P2P) energy trading has become a highly encouraging option that promotes a comprehensive shift towards sustainable energy sources. It enables flexible and localized trading of surplus energy produced by diverse distributed energy resources which are smaller in scale. It enables individuals to directly engage in energy transactions within their community, promoting efficiency and encouraging the utilization of renewable energy. Nevertheless, the utilization of a software platform is essential, as it facilitates peer-to-peer information sharing and helps system administrators keep an eye on and manage the distribution network. Additionally, the platform's various trading regulations have a big impact on the choices that peers make when trading with other peers. Consequently, the energy trading industry has embraced blockchain technology as a platform to facilitate peer-to-peer (P2P) transactions, enabling efficient and real-time monitoring, trading, and electricity consumption. Incorporating blockchain into the electricity generation infrastructure offers numerous potential benefits and advantages.

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