Automated Energy Billing with Blockchain and the Prophet Forecasting Model: A Holistic Approach
This addresses billing inefficiencies for energy consumers, but it is incremental as it combines existing technologies in a new application.
The paper tackled automated energy billing by integrating IoT, blockchain, and the Prophet forecasting model, resulting in a system that reduces manual errors and enhances user awareness through secure, transparent processes.
This paper presents a comprehensive approach to automated energy billing that leverages IoT-based smart meters, blockchain technology, and the Prophet time series forecasting model. The proposed system facilitates real-time power consumption monitoring via Wi-Fi-enabled ESP32 modules and a mobile application interface. It integrates Firebase and blockchain for secure, transparent billing processes and employs smart contracts for automated payments. The Prophet model is used for energy demand forecasting, with careful data preprocessing, transformation, and parameter tuning to improve prediction accuracy. This holistic solution aims to reduce manual errors, enhance user awareness, and promote sustainable energy use.