Blockchain Technology To Innovate In The Renewable Energy Market

The suggested idea focuses on simplifying the management and trading of clean energy using the blockchain network and the automation of energy control. The officially submitted abstract of the paper details the core mechanism as the forward selling of renewable energy generation using power delivery contracts. The offered blockchain-based forward selling is a transactive framework on the blockchain network wherein, a renewable energy generation source, such as wind or solar farm will directly sell a contracted claim to some of their future power output in the form of a non-fungible token (NFT). The end user’s electricity consumption will be counted against the realized clean energy generation levels, using flexible smart contract code within the system in near real-time.