Peer-to-Peer Energy Trading for Electric Vehicles Utilizing Blockchain and IoT Technologies

Abstract

The current energy market operates under a centralized model, relying on large-scale power plants for energy distribution, which presents challenges such as a lack of transparency, high transaction costs, and limited integration of renewable energy sources (RESs). This paper introduces a blockchain and Internet of Things (IoT)-based energy trading model specifically designed for electric vehicles (EVs), utilizing Node-RED and the MQTT communication protocol. The proposed model facilitates peer-to-peer energy trading between consumers and producers in a decentralized and sustainable manner. By leveraging blockchain technology and IoT devices, it enables secure and transparent transactions, real-time monitoring and control of energy consumption and production, and seamless integration with RESs. The blockchain framework ensures transaction transparency, security, and immutability, while IoT devices enhance real-time energy usage monitoring. The Node-RED and MQTT platform provides scalability for this energy trading model, which has the potential to transform the energy market by reducing reliance on centralized providers and promoting RESs.