Smart Grid Block-Chain (BC) Conceptual Framework: Bi-Directional Models for Renewable Energy District and Utility

Abstract

Block-Chain (BC) based Smart Grid (SG) energy market is a very challenging domain of today's era. Various researchers and scientists worked successfully in BC technology, still, further investigations and analysis are required with respect to the SG framework. Considering the above, we present a new architecture integrating energy-generating prosumers with the utility through a BC network. Moreover, we describe a trustworthy agreement named Service Level Agreement (SLA) managing and controlling all energy transactions in the BC. The smart contract of a single prosumer with the utility is also explained in the context of the de-regulated energy market. Finally, promising features and applications of BC are presented, considering the SG paradigm.