An integrated blockchain-based energy management platform with bilateral trading for microgrid communities

Leeuwen, Gijs van; AlSkaif, Tarek; Gibescu, Madeleine; Sark, Wilfried van

doi:10.1016/j.apenergy.2020.114613

Cited by 215 publications

(96 citation statements)

References 35 publications

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“…Morstyn et al presented P2P energy trading using bilateral contract networks including an upstream-downstream energy balance and forward market uncertainty [16]. Leeuwen et al proposed an integrated blockchain-based energy management platform that optimized energy flows, implemented a bilateral trading mechanism, and presented a smart contract as a virtual aggregator to solve the problem in a distributed manner [17]. Khorasany et al proposed a primal-dual gradient method based on bilateral P2P energy trading considering line flow constraints to avoid overloaded or congested lines in the system [18].…”

Section: B Prior Workmentioning

confidence: 99%

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Peer-to-Peer Energy Transaction Mechanisms Considering Fairness in Smart Energy Communities

Son

2020

IEEE Access

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This study presents peer-to-peer (P2P) energy transaction mechanisms to maximize social welfare considering the uncertainty and profit fairness of the players. The P2P energy transaction problem is formulated as a P2P energy transaction pair matching and the determination of the P2P transaction price. To solve the problem, the optimal condition to maximize social welfare is determined using stochastic P2P energy transaction performance analysis based on the uncertainty characteristics. The analysis results show that social welfare is maximized to match the producer and consumer pairs that have similar demand characteristics; the P2P transaction price balances the profit fairness between the pair. Using these results, two centralized P2P energy transaction mechanisms are proposed by modifying the optimization problem. Moreover, a decentralized P2P energy transaction mechanism that operates in a distributed manner is suggested with the operational signal flow for the implementation of the mechanism. The simulation results show that the centralized and decentralized mechanisms have near optimal performance, with less than a 0.5% and 1% optimal gap compared to the optimal solution that requires perfect information including uncertainty, respectively. However, the decentralized mechanism is less computationally complex and uses less information than the centralized mechanisms; consequently, it can alleviate the operational burden and security and privacy problems. In addition, the results show that the performance of P2P energy transaction is related to the relative demand ratio between the producer and consumer. The optimal condition and results suggest a guide to the design of the P2P energy transaction. INDEX TERMS Demand-side management, distributed energy transaction, distributed generation, energy community, energy trading, fairness, peer-to-peer, prosumer, uncertainty.

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Section: B Prior Workmentioning

confidence: 99%

“…Substituting (17) into (16), the expected maximum pair profit between producer and consumer through the P2P energy transaction, U (#,$)…”

Section: B Expected Pair Profitmentioning

confidence: 99%

Peer-to-Peer Energy Transaction Mechanisms Considering Fairness in Smart Energy Communities

Son

2020

IEEE Access

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“…First, it can lower the entrance barrier for DA on electricity markets, bringing in more players, transparency and market liquidity. Second, transactions can be processed via a well-designed digital system in a decentralised manner instead of a third party, decreasing the stress on this third party and thus opening up possibilities for a higher number of transactions (i.e., P2P trading [26]).…”

Section: Role Of Blockchainmentioning

confidence: 99%

“…We will use this as the basis for determining whether, and if so, which form of blockchain should be used for a specified application. The grid operator in case of aFRR provision is the TSO, but it could also be a DSO in case of P2P trading at the distribution level [26]. The TSO, DSOs and BSPs can all serve as writers; specific writing rights should be decided on by an appropriate central authority.…”

Section: Role Of Blockchainmentioning

confidence: 99%

“…The iconic Brooklyn microgrid, which is a practical implementation of blockchain in local electricity markets, is presented in [25]. A blockchain-based system for Peer-to-Peer (P2P) energy trading between households is proposed in [26]. A decentralised optimal power flow algorithm for distribution networks using blockchain-smart contract is presented in [27].…”

Section: Introductionmentioning

confidence: 99%

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A Blockchain-Based Configuration for Balancing the Electricity Grid with Distributed Assets

AlSkaif

Holthuizen²,

Schram

et al. 2020

WEVJ

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This paper explores a future perspective to foster the provision of balancing services to the electricity grid by distributed assets. One recent test case, initiated by the Dutch Transmission System Operator (TSO), was to operate an Electric Vehicle (EV) fleet on the automatic Frequency Restoration Reserve (aFRR) market, which entails fast and automated reserves. To achieve that in a decentralised, automated and transparent manner, the role of blockchain technology for this specific application is explored. We propose a novel configuration that can serve as a basis for deploying distributed assets for aFRR markets using blockchain or any alternative Distributed Ledger Technology (DLT). Automation can be achieved via the deployment of smart contracts, which also results in transparency in the system. The blockchain configurations are designed for three phases in the aFRR market, namely: (i) Operational planning and scheduling by a balancing service provider (i.e., formulation and submission of aFRR bid), (ii) Real-time operations (i.e., activation and measurements), and iii) Verification and settlement (i.e., imbalance correction and financial settlement). The paper concludes that the scalability of distributed assets that can participate in the system, combined with the large transaction times and energy consumption of some consensus mechanisms, could put limitations on the proposed architecture. Future research should address benchmarking studies of other alternatives (e.g., DLTs, such as the ones based on directed acyclic graphs, and non-DLT solutions) with the proposed blockchain solution.

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Optimal Coordinated Operation of Heat and Electricity Incorporated Networks

Kazemi‐Razi

Nafisi

2022

Coordinated Operation and Planning of Modern Heat and Electricity Incorporated Networks

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An integrated blockchain-based energy management platform with bilateral trading for microgrid communities

Cited by 215 publications

References 35 publications

Peer-to-Peer Energy Transaction Mechanisms Considering Fairness in Smart Energy Communities

Peer-to-Peer Energy Transaction Mechanisms Considering Fairness in Smart Energy Communities

A Blockchain-Based Configuration for Balancing the Electricity Grid with Distributed Assets

Optimal Coordinated Operation of Heat and Electricity Incorporated Networks

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