Blockchain-based smart contract for energy demand management

Abstract

This paper studies the design and management of distributed energy systems incorporating residential, commercial and industrial users. A hierarchical framework is first proposed for the energy demand side management through peer-to-peer exchange of information and energy in the real-time market. Smart contracts guaranteed by blockchain technologies are implemented to create a seamless and efficient trading system. The benefits of distributed energy management are presented such as economic savings, reduction of peak load and increased market efficiency facilitated by blockchain.