A Blockchain-Enabled Framework for Decentralised Peer-to-Peer (P2P) Energy Trading

Decentralised energy exchange is the process of Peer-to-Peer(P2P) energy trading that reduces dependence on a centralised grid and reduces transmission losses simultaneously. A blockchain technology is integrated in this system which allows for secure, transparent, and efficient transactions among energy pro ducers and consumers. The smart contracts manage the transactions. This promotes a multidirectional flow of energy enabled where users can produce and consume electricity in a more dynamic market. The model removes the intermediaries and allows for direct energy exchanges, thereby empowering the consumer to manage their energy use. Decentralised decision mechanisms further allow participants to optimise their energy use by reducing costs. Additionally, it improves the resilience of energy grids by better distributing available energy resources. Such a model encourages sustainability as it promotes renewable sources of energy and reduces carbon footprints. This is, in fact, the ultimate P2P energy trading system for a more autonomous, efficient, and greener energy future.