Application of Blockchain Technology in Energy Internet Market and Transaction

Abstract

Abstract Based on the blockchain technology, important datas such as transactions, scheduling, finance, and energy contracts are distributedly recorded, various resources such as distributed energy generation, energy transmission, energy consumption, and energy storage are aggregated for collaborative optimization control and market trading. In this paper, we build blockchain-based new generation energy Internet with extensive interconnection, intelligent decision making, real-time interaction, and open sharing. The application of blockchain technology in energy Internet includes photovoltaic energy microgrid, blockchain-based energy Internet entities, blockchain-based power trading, and energy asset securitization. Technical frameworks for energy Internet market trading system based on blockchain technology are proposed. Distributed energy ledger and energy trading smart contract are utilized. Distributed trading rules, algorithms and processes of energy system and microgrid are established. Energy Internet transactions and payment settlement system are constructed. Energy producers and consumers trade peer-to-peer on the platform to improve system efficiency and security.