A Decentralized Electricity Trading Framework (DETF) for Connected EVs: A Blockchain and Machine Learning for Profit Margin Optimization

Abstract

Connected electric vehicles (CEVs) can help cities to reduce road congestion and increase road safety. With the technical improvement made to the battery system in terms of capacity and flexibility, CEVs, as mobile power plants can be an important actor for the electricity markets. Especially, they can trade electricity between each other when supply stations are full or temporarily not available. In this article, we propose an advanced decentralized electricity trading framework between CEVs in parking lots based on consortium blockchain, machine learning, and Game theoretic model. We design a distributed smart contract solution based on a stochastic bidding process, which helps CEVs to sell and buy electricity with their maximum profitability. Finally, numerical simulations with MATLAB and Solidity are conducted to prove the effectiveness of our proposed solution. Also, a comparison with another method in terms of CEVs' profitability improvement and energy trading management is provided.