Research-ready, Technology-set, Deployment-go: the role of blockchain in peer-to-peer energy trading

The source of end-user electricity demand is shifting from centrally located conventional power plants to a mix consisting of distributed renewable energy. Consequently, the grid infrastructure is undergoing a transformation to accommodate the intermittent injection of renewable energy, reduce losses and improve consumer engagement. Such a bidirectional exchange of energy and information, in a modern electricity grid, shows the appropriateness of data-driven and ICT based smart solutions for efficient resource utilization. One such intervention gaining world-wide traction with assorted objectives of cost minimization, utilization of locally generated renewable energy, peak reduction, etc. is peer-to-peer (P2P) energy trading. The research community and pilot-scale commercial deployments considerably focus on blockchain as an enabler of P2P energy trading. Therefore in this work, we analyze state-of-the-art from research publications and pilot/commercial deployments of P2P energy trading using blockchain. Further, the analysis is used with Technology Readiness Level (TRL) framework to classify the existing solutions, challenges and future directions in application of blockchain for P2P energy trading.