Secure and Sustainable Energy Distribution through Blockchain Technology in Smart Grids

¹ Institute of Aeronautical Engineering, Dundigal, Hyderabad
² Department of Mechanical Engineering, New Horizon College of Engineering, Bangalore
³ Lovely Professional University, Phagwara
⁴ Lloyd Institute of Engineering & Technology, Knowledge Park II, Greater Noida, Uttar Pradesh 201306
⁵ Lloyd Institute of Management and Technology, Greater Noida, Uttar Pradesh, India - 201306
⁶ Hilla University College, Babylon, Iraq

shaik.anjimoon@iare.ac.in
^* Corresponding author: rakesh2687@gmail.com

Abstract

The incorporation of blockchain technology into smart grids is seen as a revolutionary method to bolster security and sustainability in energy distribution. This study offers a thorough examination of how blockchain, acting as a decentralized ledger, can be used within smart grids to facilitate secure energy transactions, manage distributed energy resources, and support peer-to-peer energy trading. The research investigates how blockchain's architectural deployment can mitigate cyber security risks, lower operational costs, and enhance transparency in energy transactions. It also explores how blockchain's ability to maintain immutable records aligns with smart grid technologies, suggesting a new framework that utilizes smart contracts to automate energy distribution protocols. Simulation findings indicate that integrating blockchain significantly boosts energy distribution efficiency while safeguarding data privacy and integrity. Additionally, the paper discusses the environmental benefits, illustrating how blockchain can optimize renewable energy sources within smart grids, ultimately reducing carbon emissions. The proposed model addresses the scalability challenge in blockchain networks, ensuring that the advantages of this integration are achieved without sacrificing smart grid operations' performance. This research sets the stage for future investigations into the resilience and adaptability of blockchain-enabled smart grids in meeting evolving energy needs.