Development of blockchain-based platform for vehicle-vehicle, vehicle-grid and grid-vehicle energy trading

Abstract

This is a final year report that utilises the advantages of blockchain the peer-to-peer (P2P) trading system. With the rising concern of environmental issues such as air pollution by inter combustion engines (ICEs), researchers are seeking alternative ways to resolve these issues. Electric vehicles (EVs) may be a possible solution as government are aiming to phase out all ICEs by the year 2040. As EVs are becoming popular for the advantages it can bring to the society, it can also be treated as a battery energy storage systems (BESSs), charging during the non-peak period and discharge the energy during the peak period allow prosumers to earn profit through electricity trading. This can never be done without a platform or software to support this P2P trading system. Using the P2P energy trading concept and a blockchain platform such as Ethereum, it can benefit prosumers as the main advantage of Ethereum is that it has smart contract which allows transaction to be done automatically. This allows prosumers to participate in the energy trading market allowing them to trade electricity among other prosumers. Thus, this project aims to utilise the P2P trading model and create a blockchain based platform using Ethereum to simulate the payment of transaction to other blockchain account to purchase electricity from or to other prosumers allowing the future of electricity trading between EVs or the grid becomes feasible.