Tag Archive for: energy trading

In the local energy trade market peer to peer energy trading and generation of local energy can condense the cost of energy consumption and harmful gases emission ( results in to generate the energy at consumer’s end the renewable energy sources are used) and rise the resilience of smart grid. However, privacy issues and trust may available in the trading of local energy with peers. To manage the energy trading a centralized system can be utilized but it faces the several issues and also it promotes the overall system cost. In this tabloid, based on the blockchain system a hybrid P2P energy trading market is proposed. This system totally decentralized and this system allows that members in trading market can able to interact with each other member and can able to trade the energy without the third party involvement. In the blockchain based energy exchange market the smart agreements play a vital role. Smart agreements follows the all the essential rules in the energy trading. To develop the hybrid electricity exchange market the 3 smart agreements are proposed in this tabloid. The three smart agreements are Main Smart agreement, P2P smart agreement and Producer to Grid smart agreement. Initially the market member interacts with main smart agreement and for further process it follows the other 2 smart agreements. The implementation of an efficient hybrid energy exchange market is the main objective of this tabloid and also reduces the cost of energy and peak to average ratio of electricity.