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Blockchain-Based Peer-to-Peer Energy Trading and Charging Payment System for Electric Vehicles

Author

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  • Prince Waqas Khan

    (Department of Computer Engineering, Jeju National University, Jeju-si 63243, Korea)

  • Yung-Cheol Byun

    (Department of Computer Engineering, Jeju National University, Jeju-si 63243, Korea)

Abstract

The world is moving rapidly from carbon-producing vehicles to green transportation systems. Electric vehicles (EV) are a big step towards a friendly mode of transport. With the constant rise in the number of electric vehicles, we need a widespread and seamless charging infrastructure that supports seamless charging and billing. Some users generate electricity using solar panels and charge their electric vehicles. In contrast, some use charging stations, and they pay for vehicle charging. This raises the question of trust and transparency. There are many countries where laws are not strictly enforced to prevent fraud in payment systems. One of the preeminent problems presently existing with any of the trading systems is the lack of transparency. The service provider can overcharge the customer. Blockchain is a modern-day solution that mitigates trust and privacy issues. We have proposed a peer-to-peer energy trading and charging payment system for electric vehicles based on blockchain technology. Users who have excess electricity which they can sell to the charging stations through smart contracts. Electric vehicle users can pay the charging bills through electronic wallets. We have developed the electric vehicle’s automatic-payment system using the open-source platform Hyperledger fabric. The proposed system will reduce human interaction and increase trust, transparency, and privacy among EV participants. We have analyzed the resource utilization and also performed average transaction latency and throughput evaluation. This system can be helpful for the policymakers of smart cities.

Suggested Citation

  • Prince Waqas Khan & Yung-Cheol Byun, 2021. "Blockchain-Based Peer-to-Peer Energy Trading and Charging Payment System for Electric Vehicles," Sustainability, MDPI, vol. 13(14), pages 1-16, July.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:14:p:7962-:d:595600
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Laurence L. Delina & Rainbow Yi Hung Lam & Wing Shun Tang & Ka Ying Wong, 2023. "Mapping the actor landscape of a future fintech-funded renewable energy ecosystem in Hong Kong," Journal of Environmental Studies and Sciences, Springer;Association of Environmental Studies and Sciences, vol. 13(3), pages 419-427, September.
    2. Chang, Soowon & Cho, Junyoung & Heo, Jae & Kang, Junsuk & Kobashi, Takuro, 2022. "Energy infrastructure transitions with PV and EV combined systems using techno-economic analyses for decarbonization in cities," Applied Energy, Elsevier, vol. 319(C).
    3. Vinay Simha Reddy Tappeta & Bhargav Appasani & Suprava Patnaik & Taha Selim Ustun, 2022. "A Review on Emerging Communication and Computational Technologies for Increased Use of Plug-In Electric Vehicles," Energies, MDPI, vol. 15(18), pages 1-26, September.
    4. Muhammad Waseem & Muhammad Adnan Khan & Arman Goudarzi & Shah Fahad & Intisar Ali Sajjad & Pierluigi Siano, 2023. "Incorporation of Blockchain Technology for Different Smart Grid Applications: Architecture, Prospects, and Challenges," Energies, MDPI, vol. 16(2), pages 1-29, January.
    5. Siripha Junlakarn & Phimsupha Kokchang & Kulyos Audomvongseree, 2022. "Drivers and Challenges of Peer-to-Peer Energy Trading Development in Thailand," Energies, MDPI, vol. 15(3), pages 1-25, February.
    6. Haider, Sajjad & Rizvi, Rida e Zahra & Walewski, John & Schegner, Peter, 2022. "Investigating peer-to-peer power transactions for reducing EV induced network congestion," Energy, Elsevier, vol. 254(PB).
    7. Zeinab Teimoori & Abdulsalam Yassine, 2022. "A Review on Intelligent Energy Management Systems for Future Electric Vehicle Transportation," Sustainability, MDPI, vol. 14(21), pages 1-23, October.

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