HashCash P2P Energy Trading Platform Implemented by a German Solar Panel Manufacturer for trading of excess solar power generated by a community of 2000 households
Use Case Summary • A German solar panel manufacturer has implemented a P2P solar energy trading platform for PROSUMERS of solar power for a 2000 household residential community in Germany • Over 30% of the community households have rooftop solar panels installed. These solar panels often generate power that is either in excess or is short of the household’s power requirements • The household with installed solar panels (prosumers) trade power with each other or with the rest of the community • The solution implemented by HashCash, deployed a Blockchain-based decentralized platform for peer-to-peer trading of renewable solar energy creating a micro-grid of prosumers and consumers
Key Challenges Major drawbacks in the existing hierarchical organizational trading structure is: • Excess energy generated by producers through rooftop solar panels remain unutilized
• The electricity unit rates offered by Utilities through power purchase agreements (PPA) to producers are often not competitive • Power lost in transmission through long distance grids are significant and leads to wastage • The cost of solar power per unit if not fully utilized makes the use of renewable energy less economic
Process Implemented To enable energy trading using a blockchain: • We first created an HC NET based blockchain platform • Connected the producer nodes and the consumer nodes to the generated blockchain • Granted producer nodes the authority to issue the energy asset and sell the “ecoin” asset to the consumer nodes so that it can buy energy assets through the blockchain
• The producer node can price and sell as much as they want of their own energy assets • The consumer node can check the sales information and select an appropriate offer to make a transaction
Solution Architecture
Architecture of P2P Energy Trading
Benefits •
Eliminates risk of price tampering and hacking – high transparency
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Eradicates involvement of mediators and other third parties. Hence lower operating costs – 72% reduction in operating costs
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High efficiency of operation – proven increase in efficiency by 48%
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Identity privacy and transactional security – highly secured decentralized platform
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Faster transactions – speed of transactions increased by 70%
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