P2P Energy Trading – short for Peer to Peer Energy Trading – is essentially the buying and selling of energy between two interested parties. The parties need to be grid-connected to be able to connect to each other in the whole energy transferring process. The transferred energy, on the other hand, is always in the form of solar energy, more so is the excessive energy saved by the buyer in order to trade with a seller. This is all done on a very secure platform and both parties are ensured all the necessary securities in order to deal with energy.
Any traditional P2P Energy trading platform gives the seller and buyer the flexibility to choose from who they sell it to, and who they buy it from. What normally these platforms do currently is export the excess energy from a seller to the grid at a very respectable feed-in tariff price. Since flexibility is becoming the norm these days, more and more buyers and sellers are initiating different methods these days that not only gives them both more control over Peer to Peer power trading but also lets them manage how their resources are managed, especially in the case of the seller.
The overall goal for trading energy is to allow the buyers to meet their power needs and the sellers their financial needs. Moreover, as an initiative for the earth, the goal is to maximise the use of allotted energy without letting the surplus electricity from one user simply turning into waste. The sellers and buyers often match up the best offers in respect to their needs to complete the whole Peer to Peer trading electricity process. Moreover, if the consumers and prosumers are on the same page, the goal can be shared to maximise the profits to an extent it becomes all the more desirable for the participants.
The trading of such kinds of energy is done through secure platforms, often built using technology like Blockchain. After all, Blockchain is one of the greatest modern technologies on the globe making for a database technology that extensively processes and stores information in several areas. Peer to peer energy trading platforms like Blockchain uses microgrids to allow their users to distribute their excessive energy to someone who needs it and deems it suitable to the seller. But why go through all this hassle when you can just simply use our in-house developed Ojus by Sofocle, which itself is a Blockchain-based solution that does all the hard work for you.
After all, Ojus is a solution designed out by experts to streamline the distribution and, of course, the trading of electricity by producers and consumers.For those who may not know, users who both sell and consume energy are called ‘prosumers’. And, as mentioned in the whole process above, Ojus makes do with the best platform to ensure that the parties have all the flexibility they need while staying as risk-free and as transparent as they come. It also simply obliterates the overall need of a middleman thanks to it being an independent solution, which means the parties end up getting a better experience thanks to no human error involved in the process.
It also has a certain lot of advantages, one of them being mentioned right above like eliminating the need for a middle party to streamline the whole process. As it turns out, both the parties even end up saving a few bucks since the whole process is transparent without any middleman hiding up the prices in the middle. So, all in all, P2P energy trading platforms are a boon for all the parties involved with no need to split up extra costs in the midst.
It also allows for great transparency between all the parties. As a result, it is a lot safer to use P2P platforms rather than going to a middleman and end up getting deceived. Moreover, this also helps the consumers purchase renewable energy – or solar energy – from the source of their choice. So, all in all, P2P energy trading is a great way for the consumers to purchase needed energy from sellers who just see it as surplus power. To grab more info on P2P energy trading or to get a glimpse of our in-house made Ojus, visit us at Sofocle.