Realization of blockchain functions for peer-to-peer energy trading
This final year project introduces the use of blockchain technology in the energy trading field. As the number of distributed energy sources (DER) continue to increase at a rapid rate due to the government’s effort to push for a greener country, a model is needed to ensure that the trading of the en...
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| Format: | Final Year Project |
| Language: | English |
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Nanyang Technological University
2020
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| Online Access: | https://hdl.handle.net/10356/140027 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | This final year project introduces the use of blockchain technology in the energy trading field. As the number of distributed energy sources (DER) continue to increase at a rapid rate due to the government’s effort to push for a greener country, a model is needed to ensure that the trading of the energy is being accounted for. Using a Peer-To-Peer (P2P) Market Clearing framework, the prosumers are able to sell their surplus energy at more competitive prices, increasing the incentive of owning DERs. By building this model onto blockchain, each energy transaction can be accounted for and also more secured. Thus, this project involves the creating of an efficient P2P model for local usage and building the software onto Ethereum. Data of a sample P2P model will be set on blockchain to perform transactions to conclude the feasibility of this technology. Overall, the main portions of this project include the studying of P2P models on energy trading, the application of blockchain technology in this area and performing transactions on blockchain. |
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