Solar Energy Trading – Case Study
The client is a start-up who wanted to target B2B clients who are looking forward to implementing a solar energy grid for their customers which will help them in selling or buying energy nearby.
Brand: A premium client from Energy Industry
Core Platform : Web
Programming Language: Angular JS
Framework: Composer Rest, Hyper Ledger Fabric V1
Solar energy company providers, Semi-government companies
- Solar energy company providers
- Semi-government companies
- Integrating IoT sensors for power production.
- Integrating IoT sensors to supply power.
- The grid integration to manage the supply of power internally amongst buildings was complex.
The client’s requirements were feasible for our experts, despite certain challenges.
Currently, India is witnessing the implementation and consumption phase of solar energy, however, as of now, India doesn’t have the policy to trade off the access supply of solar energy produced, while such trading is possible in other foreign countries. This client wanted to leverage this policy and believe that this is going to be implemented in India soon, so they wanted to make the system ready for the same. This solution does have integration of IoT to read the energy meter consumption reading for every household, analyze the usage behavior, forecasts demand, and prediction as well.
To ensure we are building the right application we have gathered detailed requirements from a client about how many buildings they have, what kind of roles the building owner plays, admin and another kind of user involvement, the way in which they manage trade between buildings, etc to ideate and develop the most appropriate application possible.
Before the actual project started we collected the following documentation to ensure we are building the right application
- Design documents
- Sample Data/Physical Printed Forms of current manual process
- Organization hierarchy and its possible accessibility
- Ensure highly secured energy trading through the Blockchain process.
- Enabling private cryptocurrency exchange based buy/sell of energy through the bidding process
- Allowing the central admin of all 5 buildings to view all transactions and reports at a single point.
- Automation through smart contact-based energy and crypto exchange.
- Better monitoring, control, and reading of energy
- View real-time energy production using IoT devices
- Sell/Transfer extra energy to other buildings through internal building grid using Blockchain
- Bidding for energy requirement from other building using Blockchain
- Using smart contracts for each transaction
Hyper Ledger Developer
Smart Contracts Developer
- The scope of the project was to develop a system that can execute a contract based on terms setup during the establishment of the contract and trade between energy produced for their shortfall/extra production.
- Real-time energy production display.
- Sell/Transfer extra energy to other buildings through the internal building grid.
- Bidding for energy requirements from other buildings.
- Reports generation.
- The dashboard of energy consumption and other energy pointers.
- IoT integration
- Blockchain capabilities
- Smart reading and automated billing functions
Key Takeaways and Learnings
The integration of Blockchain and IoT was tricky and complicated.
Implementation can be done remotely if the client has a person who has technical knowledge. It will save significant time and money.
Increased P2P energy trading by self - production and self-consumption
Reduce Cost by reading and automated billing
- The application enabled the client to take the smart reading and automated billing which further helped them to reduce its cost by 20%.
- Besides this, the improved control of the decentralized energy system and the grid was observed.
- Also, the P2P energy trading increased by 10% self - production and self-consumption locally.