Peer 2 Peer Energy Trading
Peer-to-peer energy (P2P) trading is the buying and selling of energy between two or more grid-connected parties. Often in the form of solar energy, any excess energy can be transferred and sold to other users via a secure platform. Peer-to-peer energy trading allows consumers the choice to decide on whom they purchase electricity from, and who they sell it to.
The trading of energy is done through a secure platform, often using a technology like blockchain. Blockchain is a database technology that processes and stores information, such as transactions of assets. These assets can be in the form of renewable energy credits, which can be traded through the database. Peer-to-peer energy trading platforms such as blockchain will allow consumers to share their excess energy amongst one another and control how it’s distributed through microgrids. Users who both sell and consume energy are called ‘prosumers’. Even if you don’t have solar panels, you can still purchase energy from others.