Research on the Blockchain-based Integrated Demand Response Resources Transaction Scheme

Abstract

Under the background of rapid development of distributed renewable energy (DRE) and demand response (DR), the traditional DR will develop into integrated demand response (IDR). The current centralized trading of electricity market model is unable to meet the trading needs of scattered IDR resources. As the decentralized and distributed accounting mode, the blockchain technology fits the requirement of IDR resources to participate in energy market. The blockchain-based DRE transaction platform can support the credible transaction and settlement between the IDR resources, and promote the development of DER. Corresponding to the transaction principle, the frame of blockchain-based IDR resources transaction scheme was proposed. The transactions between DER and DR are taken for example to explain the detail trading process. Finally, the smart contracts of the transactions are designed and deployed on Ethereum private blockchain to prove the validity of the proposed transaction scheme.