A Smart Contract-Based Microgrid Large-Scale Electricity Trading System

Abstract

With the development of distributed energy resources (DERs) and microgrids, the traditional electricity trading system based on centralized models is no longer suitable for the current energy market. To address this issue, in this paper, we propose a smart contract-based large-scale power trading system for microgrids. To do this, we first model the two-tier large-scale power trading system of the microgrid, then use the Hungarian algorithm to match the power transactions, and package all the power transactions into a blockchain transaction once they are completed via smart contracts. Finally, a simulation experiment is conducted to demonstrate that the proposed algorithm can effectively reduce the time taken for power transactions.