Research on Application of Blockchain Technology in Distributed Energy Trading of Microgrid

2020 ◽  
Author(s):  
Songnong Li ◽  
Hongliang Sun ◽  
Yan Zeng ◽  
Yaling Yu
Keyword(s):  
Distributed Energy ◽  
Energy Trading ◽  
Blockchain Technology ◽  
Research On Application

scholarly journals A Distributed Energy Transaction Method Based on Blockchain

2021 ◽  
Vol 267 ◽  
pp. 01007
Author(s):  
Zhipeng Jing
Keyword(s):  
Communication Process ◽  
Energy Market ◽  
Distributed Energy ◽  
Energy Trading ◽  
Healthy Development ◽  
Blockchain Technology ◽  
Transaction Process ◽  
Energy Fund ◽  
Multi Agent ◽  
Multi Mode

Aiming at the multi-agent, multi-mode and multi-rule characteristics of the distributed energy trading market,a distributed energy trading method based on blockchain is proposed. In view of the randomness and volatility of distributed energy, the use of the decentralized characteristics of blockchain technology meets the needs of distributed energy market transactions; in order to improve the reliability of the distributed energy transaction process, it is proposed to use smart contracts to separate the transaction and the communication process between the blockchain and the energy fund account; with the help of Ethereum’s “Raiden Network”, this “off-chain transaction” method, frequent and efficient transactions are carried out, realizing the “tripartite” of distributed energy producers, grid institutions and users “win-win” to promote the opening and healthy development of the distributed energy market.

scholarly journals Real-Time Bidding Model of Cryptocurrency Energy Trading Platform

Energies ◽  
2021 ◽  
Vol 14 (21) ◽  
pp. 7216
Author(s):  
Yue Wu ◽  
Junxiang Li ◽  
Jin Gao
Keyword(s):  
Real Time ◽  
Energy Market ◽  
Distributed Energy ◽  
Market Prices ◽  
Energy Trading ◽  
Energy Internet ◽  
Blockchain Technology ◽  
The Social ◽  
User Access ◽  
Welfare Model

Blockchain technology provides a comprehensive solution to user access and energy trading for distributed energy Internet. Achieving market-based pricing, increasing the earnings of energy suppliers, attracting foreign capital and facilitating the upgrade of solar and wind energy are pressing issues. Drawing on the practices of centralised exchanges and blockchain cryptocurrency, the author designed the Cryptocurrency Energy Trading Platform (CETP), dividing the permissioned blockchain into the Energy Blockchain Platform (EBP) and the Energy Cryptocurrency Exchange (ECE). The frequently used real-time bidding scenario and the seldom-used power-using scenario are separated from each other. A market welfare model for real-time bidding is established and verified. With Energy Blockchain Cryptocurrency (EBC) as the trading medium, the platform allows external bidders to get involved in the bidding and transactions, which not only attracts the social capital to be used in the development of energy Internet but also helps stabilise the energy market prices, thus, advancing the energy Internet.

scholarly journals Distributed Energy Trading: The Multiple-Microgrid Case

2015 ◽  
Vol 62 (4) ◽  
pp. 2551-2559 ◽  
Author(s):  
David Gregoratti ◽  
Javier Matamoros
Keyword(s):  
Distributed Energy ◽  
Energy Trading

A Novel Energy Trading Framework Using Adapted Blockchain Technology

2020 ◽  
pp. 1-1
Author(s):  
Mohamed R. Hamouda ◽  
Mohammed E. Nassar ◽  
M. M. A. Salama
Keyword(s):  
Energy Trading ◽  
Blockchain Technology

scholarly journals Emergence of blockchain-technology application in peer-to-peer electrical-energy trading: a review

Clean Energy ◽  
2021 ◽  
Vol 5 (1) ◽  
pp. 104-123
Author(s):  
Manish Kumar Thukral
Keyword(s):  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Research Work ◽  
Energy Sector ◽  
Peer To Peer ◽  
Renewable Energy Resources ◽  
Energy Trading ◽  
Technology Application ◽  
Blockchain Technology ◽  
The Common

Abstract Renewable-energy resources require overwhelming adoption by the common masses for safeguarding the environment from pollution. In this context, the prosumer is an important emerging concept. A prosumer in simple terms is the one who consumes as well as produces electricity and sells it either to the grid or to a neighbour. In the present scenario, peer-to-peer (P2P) energy trading is gaining momentum as a new vista of research that is viewed as a possible way for prosumers to sell energy to neighbours. Enabling P2P energy trading is the only method of making renewable-energy sources popular among the common masses. For making P2P energy trading successful, blockchain technology is sparking considerable interest among researchers. Combined with smart contracts, a blockchain provides secure tamper-proof records of transactions that are recorded in distributed ledgers that are immutable. This paper explores, using a thorough review of recently published research work, how the existing power sector is reshaping in the direction of P2P energy trading with the application of blockchain technology. Various challenges that are being faced by researchers in the implementation of blockchain technology in the energy sector are discussed. Further, this paper presents different start-ups that have emerged in the energy-sector domain that are using blockchain technology. To give insight into the application of blockchain technology in the energy sector, a case of the application of blockchain technology in P2P trading in electrical-vehicle charging is discussed. At the end, some possible areas of research in the application of blockchain technology in the energy sector are discussed.

scholarly journals Feasibility Conditions for Demonstrative Peer-to-Peer Energy Market

Energies ◽  
2021 ◽  
Vol 14 (21) ◽  
pp. 7418
Author(s):  
Reo Kontani ◽  
Kenji Tanaka ◽  
Yuji Yamada
Keyword(s):  
Power Grid ◽  
Energy Markets ◽  
Peer To Peer ◽  
Lower State ◽  
Distributed Energy ◽  
Market Mechanisms ◽  
Blockchain Technology ◽  
Advantageous Position ◽  
Data Source ◽  
Photovoltaic Generators

Distributed energy resources (DERs) play an indispensable role in mitigating global warming. The DERs require flexibility owing to the uncertainty of their power output when connected to the power grid. Recently, blockchain technology has actualized peer-to-peer (P2P) energy markets, promoting efficient and resilient flexibility in the power grid. This study aimed to extract insights about the contribution of the P2P energy markets to ensuring flexibility through analyzing transaction data. The data source was a demonstration project regarding the P2P energy markets conducted from 2019 to 2020 in Urawa-Misono District, Japan. The participants in the project were photovoltaic generators (PVGs), convenience stores (CSs), and residences equipped with battery storage as the only flexibility in the market. We quantitatively analyzed the prices and volumes ordered or transacted by each participant. The execution prices purchased by the residences were lower than those purchased by CSs; the differences between execution prices and order prices of the residences were narrower than those of PVGs and CSs; the lower state-of-charge (SoC) in the storage battery induced the higher purchasing prices. Thus, P2P energy markets, where holding flexibility resulted in the advantageous position, can promote installing flexibility through market mechanisms.

scholarly journals Blockchain for Electric Vehicles Energy Trading: Requirements, Opportunities, and Challenges

2021 ◽  
Author(s):  
Nasser Al-Saif ◽  
Raja Wasim Ahmad ◽  
Khaled Salah ◽  
Ibrar Yaqoob ◽  
Raja Jayaraman ◽  
...  
Keyword(s):  
Fault Tolerance ◽  
Case Studies ◽  
Electric Vehicles ◽  
Single Point ◽  
Data Provenance ◽  
Successful Implementation ◽  
Research Projects ◽  
Energy Trading ◽  
Blockchain Technology ◽  
Trusted Data

Today's technologies, techniques, and systems leveraged for managing energy trading operations in electric vehicles fall short in providing operational transparency, immutability, fault tolerance, traceability, and trusted data provenance features. They are centralized and vulnerable to the single point of failure problem, and less trustworthy as they are prone to the data modifications and deletion by adversaries. In this paper, we present the potential advantages of blockchain technology to manage energy trading operations between electric vehicles as it can offer data traceability, immutability, transparency, audit, security, and confidentiality in a fully decentralized manner. We identify and discuss the essential requirements for the successful implementation of blockchain technology to secure energy trading operations among electric vehicles. We present a detailed discussion on the potential opportunities offered by blockchain technology to secure the energy trading operations of electric vehicles. We discuss several blockchain-based research projects and case studies to highlight the practicability of blockchain technology in electric vehicles energy trading. Finally, we identify and discuss open challenges in fulfilling the requirements of electric vehicles energy trading applications.

Digitaler Echtzeithandel in der Nachbarschaft

BWK ENERGIE. ◽  
2019 ◽  
Vol 71 (09) ◽  
pp. 50-51
Author(s):  
Michael Merz
Keyword(s):  
Energy Trading ◽  
Blockchain Technology

ENERGIEHANDEL | Die Blockchain-Technologie zur Abwicklung lokaler Energiehandelsgeschäfte findet mittlerweile auch hierzulande den Weg in die Praxis. Im Projekt „Etiblogg“ (Energy Trading via Blockchain-Technology in the Local Green Grid) 1) beispielsweise wird der Handel vollautomatisch durch sogenannte Blockchain Devices durchgeführt.

scholarly journals Blockchain in Energy Efficiency: Potential Applications and Benefits

Energies ◽  
2019 ◽  
Vol 12 (17) ◽  
pp. 3317 ◽  
Author(s):  
Asma Khatoon ◽  
Piyush Verma ◽  
Jo Southernwood ◽  
Beth Massey ◽  
Peter Corcoran
Keyword(s):  
Energy Efficiency ◽  
Information And Communication Technologies ◽  
Asset Management ◽  
Large Scale ◽  
Energy System ◽  
Energy Trading ◽  
Trading Systems ◽  
Energy Company ◽  
Blockchain Technology ◽  
Smart Contract

Blockchain technology is ready to disrupt nearly every industry and business model, and the energy sector is no exception. Energy businesses across the world have already started exploring the use of blockchain technology in large-scale energy trading systems, peer-to-peer energy trading, project financing, supply chain tracking, and asset management among other applications. Information and Communication Technologies (ICTs) recently started revolutionizing the energy landscape, and now blockchain technology is providing an additional opportunity to make the energy system more intelligent, efficient, transparent, and secure in the longer term. The idea of this paper is to examine more closely the use of blockchain technology for its possible application in the energy efficiency industry and to determine how it could make energy efficiency markets more secure and transparent in the longer term. This paper examines in detail the key benefits and implications of using blockchain in the energy efficiency sector through the presentation and discussion of two case studies as possible blockchain applications—(i) the UK Energy Company Obligation scheme and (ii) the Italian White Certificate Scheme. We have presented how the key issues around trading energy efficiency savings—correctly estimating the savings, data transparency among stakeholders, and inefficient administrative processes—can be solved through the application of a blockchain-based smart contract system. Finally, this paper presents an implementation of a smart contract for trading of energy-saving certificates achieved via execution of smart contract transactions on the Ethereum blockchain.

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