Blockchain for Enhancing Transparency in Renewable Energy Transactions

Abstract

The renewable energy sector faces challenges in ensuring transparency, accountability, and trust among stakeholders. Blockchain, as a decentralized and immutable ledger, offers a promising solution to address these challenges by enabling secure and transparent transactions. This paper explores how blockchain technology can enhance transparency in renewable energy transactions, including power purchase agreements, peer-to-peer energy trading, and green certificate validation. It includes a detailed review of current literature, methodology for implementing blockchain in energy systems, and results from case studies demonstrating blockchain's impact. The findings indicate that blockchain has significant potential to improve operational efficiency, reduce fraud, and build stakeholder confidence.