Renewable energy trading: Assessment by blockchain

Abstract

Renewable energy trading could be considered the next step in power trading's development. It is probable that individuals currently involved in power trading will need to upgrade their data collection, processing, and reporting systems. This article provides a comprehensive evaluation of renewable energy trading utilizing Blockchain technology. Initially, the paper examines country-specific renewable energy trading with a focus on India, China, the US, France, and Germany's renewable energy policies. Moreover, the paper presents potential renewable energy trading markets such as peer-to-peer, over the grid, and partially or fully independent microgrid's. This paper shows the appraisal of bond, commodity, derivative, and algorithm-based renewable energy trading using different Blockchain methods, including Ethereum and R3 Corda. It is find out during the renewable energy trading, proposers of bid, also include capital cost of the renewable energy power plant, salvage value after useful life of different component of renewable energy power plant. It is also find out proper trading is to be done with offering subsidies of up to 70 % of the capital cost, and with a 30 % viability gap finance (VGF) at this cost.