In a smart grid, each residential unit with renewable energy sources can trade energy with others for profit. Buyers with insufficient energy meet their demand by buying the required energy from other houses with surplus energy. However, they will not be willing to engage in the trade if it is not beneficial. With the aim of improving participants' profits and reducing the impacts on the grid, we study a peer-to-peer (P2P) energy trading system among prosumers using a double auction-based game theoretic approach, where the buyer adjusts the amount of energy to buy according to varying electricity price in order to maximize benefit, the auctioneer controls the game, and the seller does not participate in the game but finally achieves the maximum social welfare. The proposed method not only benefits the participants but also hides their information, such as their bids and asks, for privacy. We further study individual rationality and incentive compatibility properties in the proposed method's auction process at the game's unique Stackelberg equilibrium. For practical applicability, we implement our proposed energy trading system using blockchain technology to show the feasibility of real-time P2P trading. Finally, simulation results under different scenarios demonstrate the effectiveness of the proposed method.
The deployment of small-scale renewable energy sources will transform the management of energy grids towards more decentralized solutions in which the prosumers will have a more active role. Regulatory and market barriers are driving the implementation of virtual aggregation models in which the small-scale prosumers work together on a larger scale to gain benefits that could not be obtained on an individual basis. In this paper, we propose to use public blockchain and self-enforcing smart contracts to construct Virtual Power Plants (VPPs) of prosumers to provide energy services. A model has been defined for capturing the prosumer level constraints in terms of available energy profiles and energy service requirements enabling their optimal aggregation in hierarchical structures. A lightweight decentralized solution for VPPs construction is implemented using smart contracts enabling its efficient running on the public blockchain. Smart contracts are encoding the model constraints and are defining functionalities for prosumers to initiate or join a VPP implementing the complete chain of Offer-Operate-Measure-Remunerate actions. The VPP will be managed on top of a distributed ledger technology offering decentralized functionality for tracking and validating the delivery of energy based on the blockchain transactions and for energy and financial settlement, the remuneration being done according to the amount of energy provided by individual prosumers. Experimental results show that the proposed solution runs successfully on the public blockchain with good execution time and can address Balancing Responsible Party requests for additional generation. The overhead in terms of gas consumption and transactional throughput stays within reasonable boundaries.
It is expected that peer to peer energy trading will constitute a significant share of research in upcoming generation power systems due to the rising demand of energy in smart microgrids. However, the on-demand use of energy is considered a big challenge to achieve the optimal cost for households. This paper proposes a blockchain-based predictive energy trading platform to provide real-time support, day-ahead controlling, and generation scheduling of distributed energy resources. The proposed blockchain-based platform consists of two modules; blockchain-based energy trading and smart contract enabled predictive analytics modules. The blockchain module allows peers with real-time energy consumption monitoring, easy energy trading control, reward model, and unchangeable energy trading transaction logs. The smart contract enabled predictive analytics module aims to build a prediction model based on historical energy consumption data to predict short-term energy consumption. This paper uses real energy consumption data acquired from the Jeju province energy department, the Republic of Korea. This study aims to achieve optimal power flow and energy crowdsourcing, supporting energy trading among the consumer and prosumer. Energy trading is based on day-ahead, real-time control, and scheduling of distributed energy resources to meet the smart gridâs load demand. Moreover, we use data mining techniques to perform time-series analysis to extract and analyze underlying patterns from the historical energy consumption data. The time-series analysis supports energy management to devise better future decisions to plan and manage energy resources effectively. To evaluate the proposed predictive modelâs performance, we have used several statistical measures, such as mean square error and root mean square error on various machine learning models, namely recurrent neural networks and alike. Moreover, we also evaluate the blockchain platformâs effectiveness through hyperledger calliper in terms of latency, throughput, and resource utilization. Based on the experimental results, the proposed model is effectively used for energy crowdsourcing between the prosumer and consumer to attain service quality.
Atif Iqbal, Arun Sekar Rajasekaran, Gadilli Sai Nikhil, Azees Maria
In this work, a secure and decentralized Blockchain based energy trading model for electric vehicles (EVs) using Smart contract that achieves Peer-to-Peer (P2P) transactions between EVs in Vehicle to Grid networks is designed. The traditional energy trading model is a centralized structure based on trusted third parties, and there may an issue of single-point failure and leakage of privacy. In this way, a blockchain-based framework offers a secure, efficient and transparent trading model. Initially, the participating EVs and aggregator in the trading process should register at the trusted authority. Once the registration is successfully completed, both EVs and aggregator authenticate each other mutually in an anonymous manner. Moreover, only authorized EVs (charging and discharging EVs) participate in the contrary auction mechanism to exchange power/money based on their demand. Simulation conducted for the proposed scheme shows that our scheme has high speed (i.e., less computational time and execution time) which improves the market efficiency. In-addition, the transactions are non tamperable, when compared to the conventional scheme.
Naipeng Dong, Babu Pillai, Guangdong Bai, Mark Utting
Abstract Distributed ledger technology (DLT) emerged as a disruptive force towards decentralization and has expanded beyond its origins in cryptocurrencies like Bitcoin. At the heart of DLT is an infrastructure that replicates data across multiple network nodes, enabling new opportunities for data integrity, transparency, and trust in distributed business environments. In recent years, technological advances have improved the performance, energy efficiency, and functionality of DLT, expanding its application to various sectors such as finance, healthcare, trade and media, logistics, and the public sector. Despite these advances, adoption remained limited, with notable successes primarily in areas such as decentralized finance and non-fungible tokens. By placing DLT within the historical development of ledgers and distributed databases, this Fundamental provides a business-oriented foundation for structuring and assessing DLT-based solutions. It presents, a unified definition covering blockchain technologies, describes the key characteristics of DLT, and offers a structured analysis of its potential and challenges using a multi-dimensional interaction framework. Ultimately, it serves to carve out where and under which conditions DLT infrastructures add value for interorganizational relationships.
Nowadays, researchers are trying to improve and find new ways and methods to mitigate climate change and increase energy efficiency. Areas of study include smart grid, smart grid, distributed energy systems, accumulative and renewable energy sources. Renewable energy integration, system operation, transparent spending system and data integrity are the common challenges facing distribution network providers. The overall, holistic view of the technologies listed above about delivering and consuming any kind of energy has many aspects that need to be studied and optimized. Good compatibility with distribution systems is characterized by modern blockchain technology and multi-agent system. Blockchain has very good data protection, immutability and transparency properties in transactions. Its decentralized nature and automatic calculation system can bring great potential in terms of financing and calculation in the energy sector. In this thesis article a novel process to coordinate, allocate and settle energy transactions in a district multi-carrier energy system. The process operates in a decentralized way, fully on-chain. The design leaves producers the freedom to choose their preferred pricing strategy for profit maximization. The price-availability-based allocation system guarantees consumers the lowest possible cost.
Shivam Saxena, Hany E. Z. Farag, Aidan Brookson, Hjalmar Turesson ¡ 5 authors
Residential energy trading systems (RETS) enable homeowners with distributed energy resources (DERs) to participate in virtualized energy markets that have the potential to reduce the peak demand of residential communities. Blockchains are key enablers of RETS, by virtue of providing a decentralized, self-governed network that mitigates concerns regarding privacy and transparency. However, more real-world case studies are needed to evaluate the techno-economic viability of blockchain-based RETS to improve their positive uptake. Thus, this article develops a permissioned blockchain-based RETS, which enables homeowners to select bidding strategies that consider the individual preferences of their DERs, and further evaluates the impact of the bidding strategies on reducing the peak demand of the community. The proposed system is implemented on the permissioned Hyperledger Fabric platform, where a decentralized ledger is used to store all energy bids, and a smart contract is used to execute a double auction mechanism and dispatch the homeowner DERs. The proposed system is validated by conducting simulations on a 8-home community using real-world data, and also by deploying the system to a Canadian microgrid, where the smart contract execution time is benchmarked. Simulation results demonstrate the efficacy of the proposed system by achieving a peak demand reduction of up to 48 kW (62%), which leads to an average savings of $1.02 M for the distribution system operator by avoiding transformer upgrades. Also, the simulation results show that the execution time of the proposed smart contract is 17.12 seconds across 12 nodes, which is sufficient for RETS.
Using blockchain technology as one of the new methods to enhance the cyber and physical security of power systems has grown in importance over the past few years. Blockchain can also be used to improve social welfare and provide sustainable energy for consumers. In this article, the effect of distributed generation (DG) resources on the transmission power lines and consequently fixing its conjunction and reaching the optimal goals and policies of this issue to exploit these resources is investigated. In order to evaluate the system security level, a false data injection attack (FDIA) is launched on the information exchanged between independent system operation (ISO) and under-operating agents. The results are analyzed based on the cyber-attack, wherein the loss of network stability as well as economic losses to the operator would be the outcomes. It is demonstrated that cyber-attacks can cause the operation of distributed production resources to not be carried out correctly and the network conjunction will fall to a large extent; with the elimination of social welfare, the main goals and policies of an independent system operator as an upstream entity are not fulfilled. Besides, the contracts between independent system operators with distributed production resources are not properly closed. In order to stop malicious attacks, a secured policy architecture based on blockchain is developed to keep the security of the data exchanged between ISO and under-operating agents. The obtained results of the simulation confirm the effectiveness of using blockchain to enhance the social welfare for power system users. Besides, it is demonstrated that ISO can modify its polices and use the potential and benefits of distributed generation units to increase social welfare and reduce line density by concluding contracts in accordance with the production values given.
Yuris Mulya Saputra, Diep N. Nguyen, Dinh Thai Hoang, Thang X. Vu ¡ 6 authors
In this paper, we propose a novel economic-efficiency framework for an electric vehicle (EV) network to maximize the profits (i.e., the amount of money that can be earned) for charging stations (CSs). To that end, we first introduce an energy demand prediction method for CSs leveraging federated learning approaches, in which each CS can train its own energy transactions locally and exchange its learned model with other CSs to improve the learning quality while protecting the CS's information privacy. Based on the predicted energy demands, each CS can reserve energy from the smart grid provider (SGP) in advance to optimize its profit. Nonetheless, due to the competition among the CSs as well as unknown information from the SGP, i.e., the willingness to transfer energy, we develop a multi-principal one-agent (MPOA) contract-based method to address these issues. In particular, we formulate the CSsâ profit maximization as a non-collaborative energy contract problem under the SGP's unknown information and common constraints as well as other CSsâ contracts. To solve this problem, we transform it into an equivalent low-complexity optimization problem and develop an iterative algorithm to find the optimal contracts for the CSs. Through simulation results using a real CS dataset, we demonstrate that our proposed framework can enhance energy demand prediction accuracy up to 24.63 percent compared with other machine learning algorithms. Furthermore, our proposed framework can outperform other economic models by 48 and 36 percent in terms of the CSsâ utilities and social welfare (i.e., the total profits of all participating entities) of the network, respectively.
Decentralized management and coordination of energy systems are emerging trends facilitated by the uptake of the Internet of Things and Blockchain offering new opportunities for more secure, resilient, and efficient energy distribution. Even though the use of distributed ledger technology in the energy domain is promising, the development of decentralized smart grid management solutions is in the early stages. In this paper, we define a layered architecture of a blockchain-based smart grid management platform featuring energy data metering and tamper-proof registration, business enforcement via smart contracts, and Oracle-based integration of high computational services supporting the implementation of future grid management scenarios. Three such scenarios are discussed from the perspective of their implementation using the proposed blockchain platform and associated challenges: peer to peer energy trading, decentralized management, and aggregation of energy flexibility and operation of community oriented Virtual Power Plants.
Baraa Mohandes, Mohamed Shawky El Moursi, Nikos Hatziargyriou, Sameh El Khatib
This article proposes a DR program characterized by a novel compensation scheme. The proposed scheme recognizes the different characteristics of curtailment, such as the total length of curtailments within a window of time, or the number of separate curtailment events (i.e., curtailment startup), and compensates the end-user accordingly. The proposed compensation scheme features a piece-wise reward function comprised of two intervals. DR participants receive a onetime reward upfront when they enroll in the DR program and accept a set of predefined curtailment aspects. Curtailment aspects in excess of the agreed quantities are rewarded at a linear rate. This design is tailored to appeal to residential DR participants, and aims to secure sufficient flexibility at minimum cost. The parameters of the smart contract are optimized such that the system's social welfare is maximized. The optimization problem is modeled as a mixed-integer linear program. Consequently, this article updates the unit-commitment (UC) formulation with the commitment aspects of DR units. The proposed extension to the UC problem considers the critical aspects of DR participation, such as: the total length of interruptions within a window, the frequency of interruptions within a time-window irrespective of their length, and the net energy deviation from the original load profile. Deployment of the smart DR contract in the unit dispatch problem requires translating DR participants' characteristics to their equivalent aspects in conventional thermal generators, such as minimum up time, minimum down-time, start-up and shutdown costs. The obtained results demonstrate significant improvement in social welfare, notable reduction of curtailed renewable energy and reduction in extreme ramping events of conventional generators.
D. Danalakshmi, R. Gopi, A. Hariharasudan, Iwona Otola ¡ 5 authors
The energy market is gradually changing from centralized trading to peer-to-peer trading due to the tremendous increase in a microgrid with green energy resources. When more generating units are included in the microgrid, the possibilities of more reactive power flows exist in the system that leads to high transmission loss which has to be optimized. The reactive power is one of the essential ancillary services in the microgrid towards preserving the voltage in the transmission and distribution line. The major contribution of the paper is towards managing the ancillary service in the distributed energy network economically and technically. This study aims to estimate and optimize the power loss, reactive power, and price management as well. Towards optimization, the self-balanced differential evolution algorithm (SBDE) is used in this study. A distribution system operator is involved in coordinating the sellers and buyers. The proposed layered microgrid architecture uses the blockchain technology for reactive power price management by providing transparency and security among peers. The process of converging various transactions into a block and adding in the distributed blockchain is illustrated. Multiple transactions are performed by using the proposed methodology, giving efficient energy transaction. The results show that the power loss is minimized using SBDE algorithm for different cases. Additionally, the study has demonstrated the price allocation of the optimal reactive power obtained from providers. The blockchain technology embedded in reactive power pricing will play a significant role in the evolution of traditional power distribution systems to active distribution networks.
The adoption of blockchain for Transactive Energy has gained significant momentum as it allows mutually non-trusting agents to trade energy services in a trustless energy market. Research to date has assumed that the built-in Byzantine Fault Tolerance in recording transactions in a ledger is sufficient to ensure integrity. Such work must be extended to address security gaps including random bilateral transactions that do not guarantee reliable and efficient market operation, and market participants having incentives to cheat when reporting actual production/consumption figures. Work herein introduces the Electron Volt Exchange framework with the following characteristics: 1) a distributed protocol for pricing and scheduling prosumers' production/consumption while keeping constraints and bids private, and 2) a distributed algorithm to prevent theft that verifies prosumers' compliance to scheduled transactions using information from grid sensors (such as smart meters) and mitigates the impact of false data injection attacks. Flexibility and robustness of the approach are demonstrated through simulation and implementation using Hyperledger Fabric.
Marco Schletz, Ana Cristina Cardoso, Gabriela Prata Dias, Søren Salomo
This paper qualitatively evaluates the application of blockchain technology for three energy efficiency use cases. To achieve the Sustainable Development Agenda, energy efficiency improvements have to double by 2030. However, the adoption of energy efficiency interventions is slow due to several market barriers. Blockchain technology is a nascent technology with the potential to address these barriers or even fundamentally change energy system designs, by enabling transparent, decentralised, and tamper-resilient systems. Nevertheless, a blockchain application comes with trade-offs and needs to be considered on a case by case basis. In this paper, we examine the benefits and constraints of a blockchain application for three different approaches to achieving energy efficiency: (i) peer-to-peer (P2P) energy trading; (ii) White Certificate Scheme (WCS); and (iii) Energy Service Companies (ESCOs). For each of these cases, we apply a decision framework to assess blockchain feasibility and outline a potential blockchain-based design. The analysis shows that blockchain functions are case dependent and that an application creates different governance and system designs due to varying case characteristics. We discuss how the identified blockchain adoption barriers can be overcome and stress the need for policy action to advance the development of pilot studies. By decentralising system governance, blockchain enables innovative designs that can accelerate the implementation of energy efficiency interventions.
Ayman Esmat, Martijn de Vos, Yashar Ghiassi-Farrokhfal, Peter Pålenský ¡ 5 authors
Peer-to-Peer (P2P) energy trading, which allows energy consumers/producers to directly trade with each other, is one of the new paradigms driven by the decarbonization, decentralization, and digitalization of the energy supply chain. Additionally, the rise of blockchain technology suggests unprecedented socio-economic benefits for energy systems, especially when coupled with P2P energy trading. Despite such future prospects in energy systems, three key challenges might hinder the full integration of P2P energy trading and blockchain. First, it is quite complicated to design a decentralized P2P market that keeps a fair balance between economic efficiency and information privacy. Secondly, with the proliferation of storage devices, new P2P market designs are needed to account for their inter-temporal dependencies. Thirdly, a practical implementation of blockchain technology for P2P trading is required, which can facilitate efficient trading in a secured and fraud-resilient way, while eliminating any intermediariesâ costs. In this paper, we develop a new decentralized P2P energy trading platform to address all the aforementioned challenges. Our platform consists of two key layers: market and blockchain. The market layer features a parallel and short-term pool-structured auction and is cleared using a novel decentralized Ant-Colony Optimization method. This market arrangement guarantees a near-optimally efficient market solution, preserves playersâ privacy, and allows inter-temporal market products trading. The blockchain layer offers a high level of automation, security, and fast real-time settlements through smart contract implementation. Finally, using real-world data, we simulate the functionality of the platform regarding energy trading, market clearing, smart contract operations, and blockchain-based settlements.
Yingchun Feng, Jie Fan, Hao Chen, Qixin Wang ¡ 6 authors
Abstract Transnational power trading can promote the development of global energy Internet, which can enable various countries and regions to optimize the allocation of resources on a larger scale. However, transnational electricity trading still faces many challenges. First, the issues of trust, member management, and huge transaction volume hinder the development of transnational power trading. Second, the issues of considering the differences among countries and establishing a reasonable and efficient transnational power market trading mechanism are also particularly important. The emergence of a consortiumâblockchain technology provides a new idea of solving these problems. The distributedâledger technology and memberâmanagement services of a consortium blockchain can solve the problems of trust in the transnational power transaction and access the review of market subjects. Simultaneously, the chainâcode technology can be used to improve the efficiency of transactions. Therefore, according to the actual needs of transnational power transactions, the applicability of the consortiumâblockchain technology was analysed. Then, a mathematical model of transnational power transactions that considered the transaction costs was designed, and simulation tests were conducted on Hyperledger Fabric. The calculation example shows that the proposed transaction model plays a positive role and significance in promoting transnational power transactions and stabilizing the market.
Nallapaneni Manoj Kumar, Aneesh A. Chand, Maria Malvoni, Kushal A. Prasad ¡ 7 authors
Smart grid (SG), an evolving concept in the modern power infrastructure, enables the two-way flow of electricity and data between the peers within the electricity system networks (ESN) and its clusters. The self-healing capabilities of SG allow the peers to become active partakers in ESN. In general, the SG is intended to replace the fossil fuel-rich conventional grid with the distributed energy resources (DER) and pools numerous existing and emerging know-hows like information and digital communications technologies together to manage countless operations. With this, the SG will able to âdetect, react, and pro-actâ to changes in usage and address multiple issues, thereby ensuring timely grid operations. However, the âdetect, react, and pro-actâ features in DER-based SG can only be accomplished at the fullest level with the use of technologies like Artificial Intelligence (AI), the Internet of Things (IoT), and the Blockchain (BC). The techniques associated with AI include fuzzy logic, knowledge-based systems, and neural networks. They have brought advances in controlling DER-based SG. The IoT and BC have also enabled various services like data sensing, data storage, secured, transparent, and traceable digital transactions among ESN peers and its clusters. These promising technologies have gone through fast technological evolution in the past decade, and their applications have increased rapidly in ESN. Hence, this study discusses the SG and applications of AI, IoT, and BC. First, a comprehensive survey of the DER, power electronics components and their control, electric vehicles (EVs) as load components, and communication and cybersecurity issues are carried out. Second, the role played by AI-based analytics, IoT components along with energy internet architecture, and the BC assistance in improving SG services are thoroughly discussed. This study revealed that AI, IoT, and BC provide automated services to peers by monitoring real-time information about the ESN, thereby enhancing reliability, availability, resilience, stability, security, and sustainability.
This paper mainly proposes an intelligent transaction strategy of energy blockchain, aiming to safeguard the transmission of energy flow and information flow between users. Considering the diversity of power users, the power sellers were divided into reliable supply type (RST), low consumption type (LCT), environmental-friendly type (EFT), and affordable price type (APT), while power buyers were split into peak shifting type (PST) and stable demand type (SDT). Then, the comprehensive evaluation value (CEV) was calculated for each type of subjects. On this basis, the transaction strategy was optimized with the goal of maximizing the matching satisfaction of the two sides of the transaction. After that, the blockchain technology was introduced to the power matching decision-making process. The power transactions were made transparent and secure by the smart contract and consensus mechanism. Example analysis shows that our method improves the proportion of clean energies in power market, and ensures the stable supply, cost effectiveness, resource saving, and environmental-friendliness of the energy market.
H. Ariza, Juan Carlos MartĂnez-Santos, Esteban Payares, M.F. Medina ¡ 6 authors
Large penetration of renewable distributed energy resources, as well as the effective integration of storage systems and electric vehicles, are some of the required strategies to reduce the impact of the energy sector on greenhouse gas emissions. Microgrids offer an efficient platform to facilitate the integration of these systems, however, the increased complexity this strategy comes with, requires the use of sophisticated, reliable, and secure monitoring and control systems. The outbreak of cryptocurrency technologies has drawn particular attention, especially, the underlying Blockchain technology. The decentralized structure of this technology enables implementing control strategies, parameters monitoring, and business processes in microgrids. The aim of this work is to present the development of a framework to monitor operational parameters from an islanded microgrid. To build the Blockchain network, the Hyperledger-Fabric development platform was used. To simulate the behavior of the microgrid, an object-oriented open-source library using the Modelica modeling language was used to model a DC microgrid. The performance of the architecture was evaluated through operational parameters such as the difficulty and the number of nodes. Results suggest that changes in these factors can affect significantly the transaction time. The proposed architecture can be used as a basis to study Blockchain communication effects in smart grids and their development.
In the Industrial Internet of Things (IIoT), peer-to-peer (P2P) distributed energy (DE) transactions exist in various scenarios. This paper attempts to improve the intelligence, real-timeliness, and security of the direct transaction between DE generation companies (DEGCs) and users, and reduce the default frequency of distributed power (DP) transactions. For these purposes, a P2P DE transaction model for the IIoT was proposed based on blockchain. Firstly, a blockchain-based distributed energy peer-to-peer transaction framework is constructed, which is more suitable for generalized energy transactions based on typical transaction scenarios of the IIoT. Using credit value evaluation and smart contracts to ensure the transparency, openness, and non-tampering of credit scores. On this basis, the energy currency reward mechanism is used to promote the trustworthiness of transaction nodes and maintain transaction security. Finally, the P2P direct transaction based on credit value was designed to improve the transaction efficiency and security. Through case analysis, the DE transaction model for the IIoT, which is based on the credit value of the blockchain, supports fast and frequent energy transactions, as it overcomes the confirmation delays of energy blockchain transactions. The proposed model improves the efficiency of DE transactions in the IIoT, effectively suppresses default frequency, and maintains the order of DE market in the IIoT.
Transactive energy plays a key role in the operation and energy management of future power systems. However, the conventional operational mechanism, which follows a centralized design, is often less secure, vulnerable to malicious behaviors, and suffers from privacy leakage. In this work, we introduce blockchain technology in transactive energy to address these challenges. Specifically, we develop a novel blockchain-based transactive energy framework for prosumers and design a decentralized energy trading algorithm that matches the operation of the underlying blockchain system. We prove that the trading algorithm improves the individual benefit and guarantees the socially optimal performance, and thus incentivizes prosumers to join the transactive energy platform. Moreover, we evaluate the feasibility of the transactive energy platform throughout the implementation of a small-scale network of Internet of Things (IoT) devices and extensive simulations using real-world data. Our results show that this blockchain-based transactive energy platform is feasible in practice, and the decentralized trading algorithm reduces the user's individual cost by up to 77% and lowers the overall cost by 24%.
Jacob G. Monroe, Paula Hansen, Matthew Sorell, Emily Zechman Berglund
The transfer of market power in electric generation from utilities to end-users spurred by the diffusion of distributed energy resources necessitates a new system of settlement in the electricity business that can better manage generation assets at the grid-edge. A new concept in facilitating distributed generation is peer-to-peer energy trading, where households exchange excess power with neighbors at a price they set themselves. However, little is known about the effects of peer-to-peer energy trading on the sociotechnical dynamics of electric power systems. Further, given the novelty of the concept, there are knowledge gaps regarding the impact of alternative electricity market structures and individual decision strategies on neighborhood exchanges and market outcomes. This study develops an empirical agent-based modeling (ABM) framework to simulate peer-to-peer electricity trades in a decentralized residential energy market. The framework is applied for a case study in Perth, Western Australia, where a blockchain-enabled energy trading platform was trialed among 18 households, which acted as prosumers or consumers. The ABM is applied for a set of alternative electricity market structures. Results assess the impact of solar generation forecasting approaches, battery energy storage, and ratio of prosumers to consumers on the dynamics of peer-to-peer energy trading systems. Designing an efficient, equitable, and sustainable future energy system hinges on the recognition of trade-offs on and across, social, technological, economic, and environmental levels. Results demonstrate that the ABM can be applied to manage emerging uncertainties by facilitating the testing and development of management strategies.
Chenxi Jia, Hongyuan Ding, Chuanjin Zhang, Xi Zhang
In modern buildings, the intelligent building energy management system (IBEMS) faces several problems with its centralized architecture: the difficulty in the networking between end devices, the lack of flexibility, and the limited sharing of underlying information. To overcome these problems, this paper probes into the framework of the wireless sensor network (WSN), and designed a network model of the IBEMS. Next, the security of blockchain technology was fully examined, and a dynamic key management strategy was proposed based on the blockchain for the IBEMS. The feasibility of the proposed plan was verified through experiments. The experimental results show that the proposed plan reduces the data storage time and space of each sensor, and optimizes the control of the IBEMS. The research results provide a reference for setting up a safe and reliable IBEMS based on spatial distribution, and help promote blockchain technology in other scenarios of the UPIoT.