Secure trading of excess solar power in smart buildings using blockchain-enabled RES

Abstract The use of photovoltaic (PV) systems in smart buildings has greatly promoted renewable energy generation, but efficient use and trading of PV surplus generation are still difficult. This paper introduces a novel energy management framework for transacting surplus solar energy for a secure, decentralized way, among prosumers and grid energy components. It includes smart meters and smart contract implementation, which allow energy to be transacted in real time, in an automatic and transparent way, between two parties in a peer-to-peer (P2P) system. Return on Investment (ROI) ratio is the ratio of net economic benefits achieved by surplus energy trading to the total investment amount of PV infrastructure and implementation of the energy trading blockchain in this study. Is the ROI calculated from the revenue generated from energy sales plus the savings from managing the grid’s electricity portfolio, and add the avoidance of transaction costs CEMS would bear as the lack of intermediaries. The suggested proposal secures data integrity, transparency of transactions, enhanced efficiency and allows optimal use of local energy production. Results show that building owners can improve in their energy management and benefit economically. The study shows that blockchain could be used as an energy trading platform to enable a scalable, reliable solution for decentralized renewable energy (dRE) markets of smart building.