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Saturday, June 15, 2024

Peer to peer energy trading

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P2P Energy Trading – short for Peer to Peer Energy Trading – is essentially the buying and selling energy between two interested parties. The parties need to be grid-connect to connect in the energy transfer 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 to trade with a seller. This is done on a secure platform, and both parties are ensured all the necessary security to deal with energy.

Peer to Peer Energy Trading platform

Any traditional P2P Energy trading platform allows the seller and buyer to choose who they sell and buy it from. What these platforms normally do currently is export the excess energy from a seller to the grid at a very good feed-in tariff price. Since flexibility is becoming the norm these days. More and more buyers and sellers are initiating different methods. That give them more control over Peer to Peer power trading and let them manage how their resources are managed, especially in the case of the seller.

The overall goal of trading energy is to allow the buyers to meet their power and sellers’ 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 turn into waste.

Peer to Peer trading 

The sellers and buyers often match up the best offers concerning 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 the extent that it becomes all the more desirable for the participants.

Such energy is traded through secure platforms, often built using technology like Blockchain. After all, Blockchain is one of the world’s greatest modern technologies, making for a database technology that extensively processes and stores information in several areas. Peer-to-peer energy trading platforms like Blockchain use microgrids to allow users to distribute their excessive energy to someone who needs it and deems it suitable for the seller.

Ojus by Sofocle

But why go through all this hassle when you can use our in-house developed Ojus by Sofocle, a Blockchain-based solution that does all the hard work for you?

After all, Ojus is a solution designed 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 sell and consume energy are ‘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 for a middleman. It is an independent solution, which means the parties get a better experience thanks to no human error involved in the process.

P2P energy trading platform

It also has many advantages, like eliminating the need for a middle party to streamline the process. Both parties even save a few bucks since the whole process is transparent without any middleman hiding 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.

It also allows for great transparency between all parties. As a result, it is a lot safer to use P2P platforms rather than going to an intermediary and ending up getting deceived. Moreover, this also helps 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 consumers to purchase needed energy from sellers who see it as surplus power. To grab more info on P2P energy trading or to glimpse our in-house made Ojus, visit us at Sofocle.

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