Building a Decentralized Renewable Energy Marketplace using Blockchain Technology

Nowadays, the transition towards decentralized energy systems calls for creative ways to facilitate prosumer-consumer energy trading efficiently. Existing energy markets face challenges such as high transaction costs, lack of transparency, and reliance on centralized infrastructure, leading to inefficiencies in energy trading and imbalance in supply and demand. This study presents the implementation of a blockchain-based platform that enables peer-to-peer (P2P) energy trading. The platform guarantees that energy transactions are secure, transparent, and automated by utilizing Ethereum smart contracts. The suggested design uses a decentralized application for prosumer-consumer interaction and uses Internet of Things devices for energy monitoring in real time. The system has potential to completely transform conventional energy markets. The results show how well it facilitates transparent and secure energy transactions.