Blockchain for Transacting Energy and Carbon Allowance in Networked Microgrids

Yan, Mingyu; Alabdulwahab, Ahmed; Abusorrah, Abdullah; Gurung, Niroj; Zheng, Honghao; Ogunnubi, Oladipupo; Vukojevic, Aleksandar; Paaso, Esa Aleksi

doi:10.1109/tsg.2021.3109103

Cited by 103 publications

(24 citation statements)

References 41 publications

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“…Case 2: The proposed joint market is considered, except for load flexibility. Case 3: The proposed joint market is adopted, while the carbon market model is modified according to [22]. In this case, the participants can only purchase/sell allowances to the operator at fixed prices and the allowance balancing constraint ( 9) is omitted.…”

Section: The Effect Of Carbon Allowance Sharing and Load Flexibilitymentioning

confidence: 99%

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Decentralized Energy Market Integrating Carbon Allowance Trade and Uncertainty Balance in Energy Communities

Yuan-xi¹,

Wang²,

Gu³

et al. 2023

Preprint

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With the sustained attention on carbon neutrality, the personal carbon trading (PCT) scheme has been embraced as an auspicious paradigm for scaling down carbon emissions. To facilitate the simultaneous clearance of energy and carbon allowance inside the energy community while hedging against uncertainty, a joint trading framework is proposed in this article. The energy trading is implemented in a peer-to-peer (P2P) manner without the intervention of a central operator, and the uncertainty trading is materialized through procuring reserve of conventional generators and flexibility of users. Under the PCT scheme, carbon allowance is transacted via a sharing mechanism. Possible excessive carbon emissions due to uncertainty balance are tackled by obliging renewable agents to procure sufficient carbon allowances, following the consumption responsibility principle. A two-stage iterative method consisting of tightening Mc-Cormick envelope and alternating direction method of multipliers (ADMM) is devised to transform the model into a mixed-integer second-order cone program (MISOCP) and to allow for a fully decentralized market-clearing procedure. Numerical results have validated the effectiveness of the proposed market model.

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Section: The Effect Of Carbon Allowance Sharing and Load Flexibilitymentioning

confidence: 99%

“…Recent works have combined the P2P energy market with the carbon market based on this accounting method. In [22], all microgrids are motivated to form a grand coalition to transact energy and carbon allowances. Nevertheless, market clearance is solved by the distribution system operator (DSO) and individual privacy concerns may occur.…”

Section: Introductionmentioning

confidence: 99%

Decentralized Energy Market Integrating Carbon Allowance Trade and Uncertainty Balance in Energy Communities

Yuan-xi¹,

Wang²,

Gu³

et al. 2023

Preprint

View full text Add to dashboard Cite

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“…The Ref. (Yan et al, 2021) proposed a blockchain application for processing energy and carbon quotas in microgrids, using an external cooperative game to simulate the market behavior of networked manufacturing systems, and encouraging generators to trade the effectiveness of energy and carbon quotas. After the analysis of energy trading and distributed energy, the Ref.…”

Section: Lower Carbon Pollution Emissionsmentioning

confidence: 99%

A review of energy internet research considering interactive energy: The blockchain perspective

et al. 2022

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With the proposal of carbon peak and neutrality goals in China, new technologies such as multi-energy synergy technology, cyber physical systems, and multi-market integration technology have ushered in unprecedented opportunities and challenges. Energy Internet (EI) technology considering interactive energy has come into being. Interactive energy is a mechanism to achieve system balance by integrating economic means and power grid control technology, using “value” as a coordination method. It can promote the development and utilization of distributed renewable energy in the energy internet technology, so as to promote the clean, low-carbon, and intelligent development of energy. Blockchain can provide effective support for the development and application of EI because of its decentralized, open, autonomous, and information-immutable characteristics. In order to better cope with the challenges existing in EI, this article designs an analysis framework for EI from the blockchain perspective, which contains five dimensions, including engineering dimension, technical dimension, economic dimension, environmental dimension, and social dimension. It further refines the five dimensions aiming to comprehensively summarize the research status of the EI, which can promote its application in the development of all industries in society.

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“…A peer-to-peer trading framework was developed in [45] enabling prosumers to trade energy and carbon allowances together, in which a decentralised carbon incentive was formulated targeting on specific energy behaviours of prosumers to achieve the local energy balance and carbon reduction. Yan et al [46] proposed a blockchain based transacting energy and carbon allowance between microgrids and the distribution system operator.…”

Section: Emissions Trading Schemementioning

confidence: 99%

Applications of blockchain and artificial intelligence technologies for enabling prosumers in smart grids: A review

Hua¹,

Chen²,

Qadrdan³

et al. 2022

Preprint

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Governments' net zero emission target aims at increasing the share of renewable energy sources as well as influencing the behaviours of consumers to support the cost-effective balancing of energy supply and demand. These will be achieved by the advanced information and control infrastructures of smart grids which allow the interoperability among various stakeholders. Under this circumstance, increasing number of consumers produce, store, and consume energy, giving them a new role of prosumers. The integration of prosumers and accommodation of incurred bidirectional flows of energy and information rely on two key factors: flexible structures of energy markets and intelligent operations of power systems. The blockchain and artificial intelligence (AI) are innovative technologies to fulfil these two factors, by which the blockchain provides decentralised trading platforms for energy markets and the AI supports the optimal operational control of power systems. This paper attempts to address how to incorporate the blockchain and AI in the smart grids for facilitating prosumers to participate in energy markets. To achieve this objective, first, this paper reviews how policy designs price carbon emissions caused by the fossil-fuel based generation so as to facilitate the integration of prosumers with renewable energy sources. Second, the potential structures of energy markets with the support of the blockchain technologies are discussed. Last, how to apply the AI for enhancing the state monitoring and decision making during the operations of power systems is introduced.

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Blockchain for Transacting Energy and Carbon Allowance in Networked Microgrids

Cited by 103 publications

References 41 publications

Decentralized Energy Market Integrating Carbon Allowance Trade and Uncertainty Balance in Energy Communities

Decentralized Energy Market Integrating Carbon Allowance Trade and Uncertainty Balance in Energy Communities

A review of energy internet research considering interactive energy: The blockchain perspective

Applications of blockchain and artificial intelligence technologies for enabling prosumers in smart grids: A review

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