Blockchain Based Energy Management System: A Proposed Model

There is tremendous growth in the renewable energy generation due to international awareness and treaty compulsions like Paris Agreement, 2016 etc. for renewable and climate friendly energy generation and distribution. Present power distribution system is centralized in nature and do not have much scope for the distributed energy generation and distribution. Therefore, there is an urgent need to change the present centralized power distribution system with a new decentralized power distribution system integrating both traditional and sustainable energy sources in efficient energy management system. The devolved nature of the smart grids has demanded integration of novel technology like Blockchain to create a secure, immutable and trustless power distribution system for peer-to-peer energy transmission. This paper proposes a model for blockchain based energy management system which integrates all energy sources, identifies the stakeholders as per their roles, generates certificates /token, does energy transactions, and incentivize the use of sustainable or green energy.