Conceptual framework for blockchain-based peer-to-peer energy trading in a community microgrid
This final year project makes use of the benefit of the blockchain Peer-to-Peer (P2P) trading system where it is decentralized and secure. Prevailing energy crisis and increasing carbon emission are the two major concerns for the present world. Peer-to Peer (P2P) energy sharing is believed to be...
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| Awduron Eraill: | |
| Fformat: | Final Year Project (FYP) |
| Iaith: | English |
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Nanyang Technological University
2021
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| Pynciau: | |
| Mynediad Ar-lein: | https://hdl.handle.net/10356/148955 |
| _version_ | 1826121066805723136 |
|---|---|
| author | Tan, Ter Ren |
| author2 | Gooi Hoay Beng |
| author_facet | Gooi Hoay Beng Tan, Ter Ren |
| author_sort | Tan, Ter Ren |
| collection | NTU |
| description | This final year project makes use of the benefit of the blockchain Peer-to-Peer (P2P)
trading system where it is decentralized and secure. Prevailing energy crisis and
increasing carbon emission are the two major concerns for the present world. Peer-to Peer (P2P) energy sharing is believed to be an efficient solution as it reduces the
energy bills of a community by 30%. It also improves the annual self-consumption by
10-30%, and self-sufficiency by around 20% [1]. A P2P trading platform offers the
prosumers to trade within the community and with the distribution network. The P2P
energy sharing enables prosumers to trade excess energy from their distributed energy
resources (DERs) with one another in a community micro-grid and therefore requires
a trading platform for its execution.
The aim of this project is to develop a blockchain-based platform which is fully
decentralized and enables the market members to communicate with each other and
trade energy without the need of any third party. Smart contracts are a vital component
in the blockchain-based energy trading market. They hold all the required rules for
energy trading. Blockchain technologies facilitate the negotiation of smart contracts
between buyers and sellers of electricity. It guarantees the immutability and
transparency of energy transactions. The project objective is to develop the
blockchain-based energy trading framework using smart contracts to ensure secure
energy trading which would run automatically without the third-party intervention in
a micro-grid |
| first_indexed | 2024-10-01T05:26:41Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/148955 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T05:26:41Z |
| publishDate | 2021 |
| publisher | Nanyang Technological University |
| record_format | dspace |
| spelling | ntu-10356/1489552023-07-07T17:02:41Z Conceptual framework for blockchain-based peer-to-peer energy trading in a community microgrid Tan, Ter Ren Gooi Hoay Beng School of Electrical and Electronic Engineering Clean Energy Research Laboratory (CERL) Shadab Murshid EHBGOOI@ntu.edu.sg Engineering::Electrical and electronic engineering::Electric power This final year project makes use of the benefit of the blockchain Peer-to-Peer (P2P) trading system where it is decentralized and secure. Prevailing energy crisis and increasing carbon emission are the two major concerns for the present world. Peer-to Peer (P2P) energy sharing is believed to be an efficient solution as it reduces the energy bills of a community by 30%. It also improves the annual self-consumption by 10-30%, and self-sufficiency by around 20% [1]. A P2P trading platform offers the prosumers to trade within the community and with the distribution network. The P2P energy sharing enables prosumers to trade excess energy from their distributed energy resources (DERs) with one another in a community micro-grid and therefore requires a trading platform for its execution. The aim of this project is to develop a blockchain-based platform which is fully decentralized and enables the market members to communicate with each other and trade energy without the need of any third party. Smart contracts are a vital component in the blockchain-based energy trading market. They hold all the required rules for energy trading. Blockchain technologies facilitate the negotiation of smart contracts between buyers and sellers of electricity. It guarantees the immutability and transparency of energy transactions. The project objective is to develop the blockchain-based energy trading framework using smart contracts to ensure secure energy trading which would run automatically without the third-party intervention in a micro-grid Bachelor of Engineering (Electrical and Electronic Engineering) 2021-05-21T06:33:23Z 2021-05-21T06:33:23Z 2021 Final Year Project (FYP) Tan, T. R. (2021). Conceptual framework for blockchain-based peer-to-peer energy trading in a community microgrid. Final Year Project (FYP), Nanyang Technological University, Singapore. https://hdl.handle.net/10356/148955 https://hdl.handle.net/10356/148955 en A1057-201 application/pdf Nanyang Technological University |
| spellingShingle | Engineering::Electrical and electronic engineering::Electric power Tan, Ter Ren Conceptual framework for blockchain-based peer-to-peer energy trading in a community microgrid |
| title | Conceptual framework for blockchain-based peer-to-peer energy trading in a community microgrid |
| title_full | Conceptual framework for blockchain-based peer-to-peer energy trading in a community microgrid |
| title_fullStr | Conceptual framework for blockchain-based peer-to-peer energy trading in a community microgrid |
| title_full_unstemmed | Conceptual framework for blockchain-based peer-to-peer energy trading in a community microgrid |
| title_short | Conceptual framework for blockchain-based peer-to-peer energy trading in a community microgrid |
| title_sort | conceptual framework for blockchain based peer to peer energy trading in a community microgrid |
| topic | Engineering::Electrical and electronic engineering::Electric power |
| url | https://hdl.handle.net/10356/148955 |
| work_keys_str_mv | AT tanterren conceptualframeworkforblockchainbasedpeertopeerenergytradinginacommunitymicrogrid |