Blockchain-based renewable energy exchange management system

Abstract

The paper presents the concept of renewable energy management system. The idea behind the system is to exploit the potential of renewable energy generation sources so as to provide additional energy services and participation in a competitive energy market. These actions can significantly affect the shortening of the period of return on investment of individual customer in renewable energy sources. The paper contains a concept of Electricity Consumption and Supply Management System (ECSM) with application of blockchain technology. ECSM provides functionality to monitor and record continuously information about inbound and outbound energy to/from power grid. Except monitoring inbound and outbound energy, solution will provide the possibility to manage in automatic and manual way when energy should be sent to energy grid. Information about inbound/outbound energy will be part of smart contract which will be confirmed and stored in every node.