Enabling New Technologies for Demand Response Decentralized Validation Using Blockchain

Abstract

This paper proposes a demand response framework for near-real time autonomous demand response management combined with a democratic market driven pricing scheme. The approach aims to aggregate groups of prosumers and develop new financial/business models for maximizing the prosumer's benefits in terms of: renewable energy usage maximization, cost minimization, etc. The framework will feature a blockchain based near-real time closed-loop semand response validation, fully autonomous, secured and decentralized. This will enact each prosumer with the possibility to verify the authenticity and integrity of all DR events and bid notifications.