EnergyAuction: Oracle Blockchain-Based Energy Trading System for Microgrids

Abstract

Nowadays, many households are adopting distributed energy resources (DERs), such as photovoltaics (PV) systems and energy storage systems (ESS) which enable each house to generate and consume energy. Peer-to-peer (P2P) energy trading is a new energy trading management among prosumers and consumers in the distribution power system, allowing excess energy to be traded locally. This work aims to design and implement an oracle blockchain-based system for local energy trading among smart homes in a microgrid. The main focus is the interaction between distributed P2P networks such as blockchain and oracle networks. Our implementation consists of a private Ethereum blockchain network and a Chainlink oracle network. Smart contracts enable prosumers and consumers to trade energy in an open auction while requesting external energy data from our testbed API through the oracle network for the settlement process.