Implementation design of energy trading monitoring application for blockchain technology-based wheeling cases

Abstract

One obstacle to the energy industry’s tendency toward adopting renewable energy is the requirement for a monitoring system for energy transactions based on microgrids in the wheeling scheme (shared use of utility networks). The quantity of transaction expenses for each operational generator is not monitored in any case. In this project, a mobile phone application is developed and maintained to track the total amount of fees paid and received by all wheeling parties and the amount of electricity produced by the microgrid. In the wheeling case system research, the number of transaction costs, such as network rental fees, loss costs, and profit margins, must be pretty calculated for all wheeling participants. The approach created in this study uses a blockchain system to execute transactions, and transactions can only take place if the wheeling actor and the generator have an existing contract. The application of energy trading is the main contribution of this research. The created application may track energy transfers and track how many fees each wheeling actor is required to receive or pay. Using a security system to monitor wheeling transactions will make energy trades transparent.