Decentralized IoT-Based Energy Sharing Architecture for Prosumers with Electric Vehicle

Abstract

Electric Vehicles (EVs) and prosumers in modern energy systems can improve grid reliability and energy use. This research presents a decentralized prosumer energy-sharing architecture based on the Internet of Things (IoT), which allows for the easy incorporation of EVs. The framework ensures scalability, security, and transparency in Peer-to-Peer (P2P) energy transactions by utilizing IoT devices. The system maximizes economic and environmental benefits by incorporating EVs as dynamic energy storage and consumption units. It optimizes energy distribution and lowers dependency on the central grid. This article develops a new energy-sharing algorithm that considers prosumers' energy needs, grid limitations, electric vehicle charging, and discharging schedules. The simulation shows significant energy efficiency improvements, price reductions, and increases in renewable energy use.