scholarly journals Demonstration of Blockchain Based Peer to Peer Energy Trading System with Real-Life Used PHEV and HEMS Charge Control

Energies ◽  
2021 ◽  
Vol 14 (22) ◽  
pp. 7484
Author(s):  
Yuki Matsuda ◽  
Yuto Yamazaki ◽  
Hiromu Oki ◽  
Yasuhiro Takeda ◽  
Daishi Sagawa ◽  
...  
Keyword(s):  
Supply And Demand ◽  
Real Life ◽  
Energy System ◽  
Energy Markets ◽  
Peer To Peer ◽  
Renewable Energy Resources ◽  
Trading System ◽  
Energy Trading ◽  
Demonstration Experiment ◽  
Home Energy Management

To further implement decentralized renewable energy resources, blockchain based peer-to-peer (P2P) energy trading is gaining attention and its architecture has been proposed with virtual demonstrations. In this paper, to further socially implement this concept, a blockchain based peer to peer energy trading system which could coordinate with energy control hardware was constructed, and a demonstration experiment was conducted. Previous work focused on virtually matching energy supply and demand via blockchain P2P energy markets, and our work pushes this forward by demonstrating the possibility of actual energy flow control. In this demonstration, Plug-in Hybrid Electrical Vehicles(PHEVs) and Home Energy Management Systems(HEMS) actually used in daily life were controlled in coordination with the blockchain system. In construction, the need of a multi-tagged continuous market was found and proposed. In the demonstration experiment, the proposed blockchain market and hardware control interface was proven capable of securing and stably transmitting energy within the P2P energy system. Also, by the implementation of multi-tagged energy markets, the number of transactions required to secure the required amount of electricity was reduced.

scholarly journals An Efficient Algorithm for Peer-to-Peer Energy Trading Using Blockchain in Microgrid Energy Markets

2019 ◽  
Vol 3 (3) ◽  
Author(s):  
Nahid-Ur-Rahman Chowdhury ◽  
Khairul Islam ◽  
Fayazul Hasan
Keyword(s):  
Renewable Energy ◽  
Efficient Algorithm ◽  
Large Scale ◽  
Renewable Energy Sources ◽  
Supply And Demand ◽  
Energy System ◽  
Economic Benefits ◽  
Peer To Peer ◽  
Energy Sources ◽  
Energy Trading

Electricity generation from distributed renewable energy sources is strongly increasing worldwide. Due to their intermittency in nature, the large scale integration of these renewable energy sources creates acute challenges to the existing energy system network. Thus, it is highly demanding to secure a reliable balance between energy generation and consumption. To overcome such challenges, peer-to-peer energy trading using blockchains on microgrid networks can play a significant role. In this paper, we present the concept of an efficient algorithm that can be useful for energy trading using blockchain from both the prosumers and consumers end. We also show the detailed outline of the methodology for energy transactions in a comprehensive way. The outcome of this study prove that if implemented properly this methodology can efficiently balance supply and demand locally and provide socio-economic benefits to the participants.

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 Anticipating Distributional Impacts of Peer-to-Peer Energy Trading: Inference From a Realist Review of Evidence on Airbnb

2020 ◽  
Author(s):  
Michael J. Fell
Keyword(s):  
Realist Review ◽  
Energy System ◽  
Peer To Peer ◽  
Individual Choice ◽  
Low Carbon ◽  
Energy Trading ◽  
Race And Gender ◽  
Highly Educated ◽  
Accommodation Sector ◽  
Distributional Impacts

Peer-to-peer (P2P) energy trading – where energy prosumers transact directly between each other – could help enable transition to a low-carbon energy system. If it is to be supported in policy and regulation, it is important to anticipate the distributional impacts (or how it might impact segments of society differently). However, real-world evidence on P2P energy trading is currently extremely limited. To address this challenge in the short- to medium-term, this study aimed to explore what might be learned from the extensive body of research on a comparable offering in the accommodation sector: Airbnb. A realist review approach was employed to maximise transferability of findings, focused on what mechanisms are thought to lead to what distributional outcomes, in what contexts. On the basis of the review, the benefits of selling services in P2P energy trading schemes would be expected to accrue disproportionately to those living in areas with network management challenges, who are younger and more highly educated. The review also raised the prospect of discrimination on the basis of characteristics such as race and gender where there are high levels of individual choice over who to trade with. Recommendations include monitoring, incentivising diversity, anonymization, and limiting trading choices.

scholarly journals When Energy Trading Meets Blockchain in Electrical Power System: The State of the Art

2019 ◽  
Vol 9 (8) ◽  
pp. 1561 ◽  
Author(s):  
Naiyu Wang ◽  
Xiao Zhou ◽  
Xin Lu ◽  
Zhitao Guan ◽  
Longfei Wu ◽  
...  
Keyword(s):  
Power System ◽  
Electrical Power ◽  
System Optimization ◽  
Assessment Model ◽  
Security And Privacy ◽  
Renewable Energy Resources ◽  
Electrical Power System ◽  
Trading System ◽  
Energy Trading ◽  
Low Efficiency

With the rapid growth of renewable energy resources, energy trading has been shifting from the centralized manner to distributed manner. Blockchain, as a distributed public ledger technology, has been widely adopted in the design of new energy trading schemes. However, there are many challenging issues in blockchain-based energy trading, e.g., low efficiency, high transaction cost, and security and privacy issues. To tackle these challenges, many solutions have been proposed. In this survey, the blockchain-based energy trading in the electrical power system is thoroughly investigated. Firstly, the challenges in blockchain-based energy trading are identified and summarized. Then, the existing energy trading schemes are studied and classified into three categories based on their main focuses: energy transaction, consensus mechanism, and system optimization. Blockchain-based energy trading has been a popular research topic, new blockchain architectures, models and products are continually emerging to overcome the limitations of existing solutions, forming a virtuous circle. The internal combination of different blockchain types and the combination of blockchain with other technologies improve the blockchain-based energy trading system to better satisfy the practical requirements of modern power systems. However, there are still some problems to be solved, for example, the lack of regulatory system, environmental challenges and so on. In the future, we will strive for a better optimized structure and establish a comprehensive security assessment model for blockchain-based energy trading system.

A novel Confidential Consortium Blockchain framework for peer to peer energy trading

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Nihar Ranjan Pradhan ◽  
Akhilendra Pratap Singh ◽  
Kaibalya Prasad Panda ◽  
Diptendu Sinha Roy
Keyword(s):  
Rate Control ◽  
Feasible Solution ◽  
Functional Model ◽  
Peer To Peer ◽  
Consensus Protocol ◽  
Trading System ◽  
Energy Trading ◽  
Elapsed Time ◽  
Smart Contract ◽  
And Performance

Abstract The vital dependence of peer to peer (P2P) energy trading frameworks on creative Internet of Things (IoT) has been making it more vulnerable against a wide scope of attacks and performance bottlenecks like low throughput, high latency, high CPU, memory use, etc. This hence compromises the energy exchanging information to store, share, oversee, and access. Blockchain innovation as a feasible solution, works with the rule of untrusted members. To alleviate this threat and performance issues, this paper presents a Blockchain based Confidential Consortium (CoCo) P2P energy trading system that works on the trust issues among the energy exchanging networks and limits performance parameters. It reduces the duplicate validation by creating a trusted network on nodes, where participants identities are known and controlled. A Java-script-based smart contract is sent over the Microsoft CoCo system with Proof of Elapsed Time (PoET) consensus protocol. Also, a functional model is designed for the proposed framework and the performance bench-marking has been done considering about latency, throughput, transaction rate control, success and fail transaction, CPU and memory usage, network traffic. Additionally, it is shown that PoET’s performance is superior to proof of work (PoW) for multi-hosting conditions. The measured throughput and latency moving toward database speeds with more flexible, business-specific confidentiality models, network policy management through distributed governance, support for non-deterministic transactions, and reduced energy consumption.

scholarly journals Application of blockchain in integrated energy system transactions

2020 ◽  
Vol 165 ◽  
pp. 01014
Author(s):  
Jianhua Liu ◽  
Shengbo Sun ◽  
Zheng Chang ◽  
Bo Zhou ◽  
Yongli Wang ◽  
...  
Keyword(s):  
Energy Systems ◽  
Energy System ◽  
Peer To Peer ◽  
Energy Trading ◽  
Integrated Energy Systems ◽  
Blockchain Technology ◽  
Centralized Management ◽  
Trading Model ◽  
Integrated Energy System ◽  
Management Method

Blockchain technology is the underlying technology of Bitcoin, which is fair, transparent and decentralized. The integrated energy system has the characteristics of open interconnection, user-centered and distributed peer-to-peer sharing, and its energy trading model will also be developed centrally to distributed. The characteristics of blockchain technology make it naturally applicable to energy transactions in integrated energy systems. This article first analyzes the characteristics of the integrated energy system market and summarizes the participants in the market. Then, based on the existing research and analysis, a blockchain-based energy transaction architecture is designed, and a weakly centralized management method is introduced. finally, the problems and challenges faced by the application of blockchain in energy transactions are analyzed.

scholarly journals Engineering Energy Markets: The Past, the Present, and the Future

2021 ◽  
pp. 113-134
Author(s):  
Clemens van Dinther ◽  
Christoph M. Flath ◽  
Johannes Gaerttner ◽  
Julian Huber ◽  
Esther Mengelkamp ◽  
...  
Keyword(s):  
Energy Supply ◽  
Energy Transition ◽  
Energy System ◽  
Congestion Management ◽  
Energy Markets ◽  
Local Energy ◽  
Energy Trading ◽  
Good Market ◽  
Efficient Resource ◽  
Market Engineering

AbstractSince the beginning of the energy sector liberalization, the design of energy markets has become a prominent field of research. Markets nowadays facilitate efficient resource allocation in many fields of energy system operation, such as plant dispatch, control reserve provisioning, delimitation of related carbon emissions, grid congestion management, and, more recently, smart grid concepts and local energy trading. Therefore, good market designs play an important role in enabling the energy transition toward a more sustainable energy supply for all. In this chapter, we retrace how market engineering shaped the development of energy markets and how the research focus shifted from national wholesale markets to more decentralized and location-sensitive concepts.

Agent-Based Model of a Blockchain Enabled Peer-to-Peer Energy Market: Application for a Neighborhood Trial in Perth, Australia

Smart Cities ◽  
2020 ◽  
Vol 3 (3) ◽  
pp. 1072-1099 ◽  
Author(s):  
Jacob G. Monroe ◽  
Paula Hansen ◽  
Matthew Sorell ◽  
Emily Zechman Berglund
Keyword(s):  
Electricity Market ◽  
Energy System ◽  
Peer To Peer ◽  
Energy Market ◽  
Energy Trading ◽  
Agent Based ◽  
Trading Systems ◽  
Market Structures ◽  
Trade Offs ◽  
The Impact

The transfer of market power in electric generation from utilities to end-users spurred by the diffusion of distributed energy resources necessitates a new system of settlement in the electricity business that can better manage generation assets at the grid-edge. A new concept in facilitating distributed generation is peer-to-peer energy trading, where households exchange excess power with neighbors at a price they set themselves. However, little is known about the effects of peer-to-peer energy trading on the sociotechnical dynamics of electric power systems. Further, given the novelty of the concept, there are knowledge gaps regarding the impact of alternative electricity market structures and individual decision strategies on neighborhood exchanges and market outcomes. This study develops an empirical agent-based modeling (ABM) framework to simulate peer-to-peer electricity trades in a decentralized residential energy market. The framework is applied for a case study in Perth, Western Australia, where a blockchain-enabled energy trading platform was trialed among 18 households, which acted as prosumers or consumers. The ABM is applied for a set of alternative electricity market structures. Results assess the impact of solar generation forecasting approaches, battery energy storage, and ratio of prosumers to consumers on the dynamics of peer-to-peer energy trading systems. Designing an efficient, equitable, and sustainable future energy system hinges on the recognition of trade-offs on and across, social, technological, economic, and environmental levels. Results demonstrate that the ABM can be applied to manage emerging uncertainties by facilitating the testing and development of management strategies.

scholarly journals A Smart Contract-Based P2P Energy Trading System with Dynamic Pricing on Ethereum Blockchain

Sensors ◽  
2021 ◽  
Vol 21 (6) ◽  
pp. 1985
Author(s):  
Jae Geun Song ◽  
Eung seon Kang ◽  
Hyeon Woo Shin ◽  
Ju Wook Jang
Keyword(s):  
Virtual Machine ◽  
Dynamic Pricing ◽  
Peer To Peer ◽  
Trading System ◽  
Energy Trading ◽  
State Diagrams ◽  
Autonomous Operation ◽  
Smart Contract ◽  
Energy Trade ◽  
Automatic Balancing

We implement a peer-to-peer (P2P) energy trading system between prosumers and consumers using a smart contract on Ethereum blockchain. The smart contract resides on a blockchain shared by participants and hence guarantees exact execution of trade and keeps immutable transaction records. It removes high cost and overheads needed against hacking or tampering in traditional server-based P2P energy trade systems. The salient features of our implementation include: 1. Dynamic pricing for automatic balancing of total supply and total demand within a microgrid, 2. prevention of double sale, 3. automatic and autonomous operation, 4. experiment on a testbed (Node.js and web3.js API to access Ethereum Virtual Machine on Raspberry Pis with MATLAB interface), and 5. simulation via personas (virtual consumers and prosumers generated from benchmark). Detailed description of our implementation is provided along with state diagrams and core procedures.

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