Revolutionizing Energy Exchange: A Blockchain-Based Decentralized Marketplace for Renewable Resources

Electric energy plays a vital role in sustaining basic human needs and has undergone significant transitions over the past century. Transitions involve shifting from traditional energy sources like traditional energy trading to different alternatives over time in the world. New techniques for managing energy trading are being explored through a Decentralized Renewable Energy Marketplace that uses blockchain technology. Modern approaches include blockchain technology to make energy trading more efficient and sustainable. The decentralized renewable energy marketplace gives decision making power to each participant who can be energy prosumers and consumers. This platform enables direct transactions between prosumers and consumers using blockchain technology which will secure data management. Ethereum is a blockchain platform for our decentralized energy marketplace due to its robust smart contract capabilities, security, and ecosystem support. As a public blockchain, Ethereum enables secure, peer-to-peer transactions without intermediaries, allowing prosumers and consumers to exchange energy directly. Smart meters are used to track energy production and Smart contracts are used to automate transactions. Blockchain technology has significant potential to revolutionize Distributed Renewable Energy Management. This research presented from the perspectives of the potential of Distributed Renewable Energy Management by using blockchain technology to revolutionize the distribution of energy, and energy trading.