Energy Trading of Renewable Energy Resources by using Blockchain Technologies

Nazreen Junaidi; Billy Tu Jia Fen; Nurul ‘Izzati Hashim; Shirley ak Rufus; Siti Kudnie Sahari; Rohana Sapawi

Authors

Nazreen Junaidi Department of Electrical and Electronics Engineering, Faculty of Engineering, Universiti Malaysia Sarawak (UNIMAS), Kota Samarahan, Sarawak, Malaysia
Billy Tu Jia Fen Department of Electrical and Electronics Engineering, Faculty of Engineering, Universiti Malaysia Sarawak (UNIMAS), Kota Samarahan, Sarawak, Malaysia
Nurul ‘Izzati Hashim Department of Electrical and Electronics Engineering, Faculty of Engineering, Universiti Malaysia Sarawak (UNIMAS), Kota Samarahan, Sarawak, Malaysia
Shirley ak Rufus Department of Electrical and Electronics Engineering, Faculty of Engineering, Universiti Malaysia Sarawak (UNIMAS), Kota Samarahan, Sarawak, Malaysia
Siti Kudnie Sahari Department of Electrical and Electronics Engineering, Faculty of Engineering, Universiti Malaysia Sarawak (UNIMAS), Kota Samarahan, Sarawak, Malaysia
Rohana Sapawi Department of Electrical and Electronics Engineering, Faculty of Engineering, Universiti Malaysia Sarawak (UNIMAS), Kota Samarahan, Sarawak, Malaysia

Keywords:

Blockchain, Renewable Energy, Smart Contract, Peer-to-peer Energy Trading, Ethereum

Abstract

This article explores the utilisation of blockchain technologies to improve renewable energy, having an emphasis on Sarawak. In Sarawak, solar power presents a viable option for generating sustainable electricity. This article seeks to demonstrate the capability of blockchain technologies to offer transparency, effectiveness and verifiability in energy transactions. The study explores the execution of an energy trading smart contract on the Sepolia Network, facilitating the involvement of energy buyers and sellers in trade on the Ethereum blockchain explorer Etherscan through a user interface. The smart contract oversees the trade process, ensuring that both parties comply with the set quantity and price of energy. The study emphasises the significance of gas pricing and MetaMask in guaranteeing the prompt and reliable implementation of the energy trading smart contract. The experimental results derived from the energy trading smart contract are demonstrated, accompanied by an elaborate exposition of each function and its significance inside the smart contract architecture. In conclusion, the article showcases the efficiency, clarity, and security necessary for successful energy trading in the Sarawak context.