Reimbursement For Electricity Supply Using Blockchain

Abstract

India today is racing towards the goal of Net Zero emissions by 2070. To achieve this goal, we need to reduce the use of air-polluting fossil fuels like coal. India today has increased its infrastructure of solar panels substantially. However, the efforts of the public can be a huge factor in this sector. Solar Panels have to be adopted by the people to reduce dependence on energy distributors providing fossil energy. The people who use solar panels for energy need to either connect their supply to a local power grid or maintain huge battery rooms to ensure a stable supply. Battery rooms are not a feasible option hence people choose to connect to the local grid. Solar Energy generated by people sometimes is in excess of their usage. These extra units can be carried forward to the next bill but people are never rewarded for their contribution. With this new system, we would be able to promote the use of solar panels by rewarding users for their contribution to the local energy supply. Energy distributors would reward users with in-app currency for the number of units they generate, these credits then can be used by users to pay their electricity bills or sell the in-app currency to other users for Fiat money. Using the latest blockchain Ethereum Smart contracts technology we can ensure the safety and security of our in-app currency and transactions made between users. A whole new source of passive income can be generated using this system. Keywords: Blockchain, Mining, Solar Power, Renewable Energy, Crypto Wallet, Electricity, Clean Energy