Decentralizing the Energy sector using Web3.0

Abstract

The energy sector plays a major role in controlling the current climate change crisis which is a major issue for the human race and nature. It is a well-accepted fact that Energy is at the heart of the climate change. To stop the climate change issue becoming too noxious for nature, it is important to decentralize the energy sector and to make use of the advanced technologies such as Artificial Intelligence, Blockchain and Internet of things. This paper discusses the current trend in usage of energy sector and how it can be decentralized to achieve the SDG Goal No. 7 in near future. The paper also analyses the Electricity Act, 2003 and what are the amendments that can be done in the act to resist the climate change. As Renewable energy [RE] plays a major role in mitigating the climate and energy crisis, the paper analyses the present amount of RE and also recommends steps to make the public to generate and use Renewable Energy. This paper analyses the global legislations regarding the RE and also how it can be improved and also about the Energy trades.