Ojus A Blockchain based P2P Energy Trading Platform

A Blockchain-based solution that helps transforms the trading and distribution of Electricity by using peer to peer distributed ledger and smart contracts.

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Ojus A Blockchain based P2P Energy Trading Platform

Ojus is a Blockchain-based peer to peer energy trading solution designed to streamline the distribution and trading of electricity by producers and consumers. It has been built using HyperLedger Fabric Protocol and uses Smart Contracts for digitizing processes.

How does currently P2P energy trading work?

The producer of Energy sells its energy at a less than optimal price to a middleman company who would then make a profit by selling this energy to a much higher price to the end consumer. The producer and consumer need to agree on the price. The result of the agreement is a lower price for the consumer and a higher price for the producer than if he sold it to a middleman company. This is how the consumer incurs cost savings in electricity while the producer becomes more profitable and can then break-even much faster on the costs of his production assets.

Any producer can become a trader and offer their surplus electricity to others. This helps to make it easier for other consumers to purchase electricity based on the renewable energy source of their choice. Also, prices of electricity can be lower than those of conventional energy suppliers.

The main advantages of P2P energy trading are:

  • No intermediary or a middleman
  • All Stakeholders saves money
  • Transparency with other consumers

Peer-to-peer energy trading is a concept which is basically an idea of a peer-to-peer economy. This allows consumers to take advantage by trading energy with other users who produce more energy than they need.

Problems in P2P Energy Trading.

Problem is how to manage the peer-to-peer power distribution, which is being produced by the households. Where these household acting as the node of producing power using solar energy. So the need is to provide the infrastructure to lay the foundation for the seamless peer-to-peer power distribution.

Thus, for distributing and monetizing the extra energy produced by the household. There should be a win-win situation for the households, who are generating extra energy, to monetize the extra energy by distributing it to the peers who need it.

How Ojus, a Blockchain-based P2P Energy Trading platform helps?

Ojus a blockchain-based solution helps in managing the power distribution among the peers. Each extra unit produced by the household is counted. This is nothing but an evolution of the next generation of power distribution in which every unit produce is counted.

P2P Energy Trading

Ojus, a blockchain-based power distribution system is built and already deployed. The platform covers a configurable number of units produced and the complete tracking down the entities. Each unit generated is traceable, this helps the end-user to gain from the system.

Ojus provides smart contract-driven peer to peer power trading system independent of the flow of power i.e. not controlling the physical flow but arranging token-based settlements between Producers, Power DISCOMS and Consumer.

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