Energy Blockchain for Demand Response and Distributed Energy Resource Management

Samadi, Mikhak; Schriemer, Henry; Ruj, Sushmita; Erol‐Kantarci, Melike

doi:10.1109/smartgridcomm51999.2021.9632326

Cited by 6 publications

(3 citation statements)

References 17 publications

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“…Incorporating an innovative mechanism for conserving Distributed Energy Resources (DERs), Samadi et al created a DR Stackelberg game model that employed blockchain technology [74]. This model promotes cooperative distributed storage and interactive demand reduction in residential areas.…”

Section: Private Blockchain Networkmentioning

confidence: 99%

“…Furthermore, the establishment of economically viable and incentivized structures for P2P energy trading remains a daunting task. Samadi et al suggest that developing attractive financial models is essential for the success of P2P trading systems [74]. Alongside this, the risk of non-payment in P2P energy transactions is a major concern for suppliers, highlighting the need for secure and reliable transaction mechanisms [75].…”

Section: Economic Considerations and Market Dynamicsmentioning

confidence: 99%

See 1 more Smart Citation

Integrating Blockchain in Smart Grids for Enhanced Demand Response: Challenges, Strategies, and Future Directions

Koukaras,

Afentoulis,

Gkaidatzis

et al. 2024

Energies

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This research, conducted throughout the years 2022 and 2023, examines the role of blockchain technology in optimizing Demand Response (DR) within Smart Grids (SGs). It critically assesses a range of blockchain architectures, evaluating their impact on enhancing DR’s efficiency, security, and consumer engagement. Concurrently, it addresses challenges like scalability, interoperability, and regulatory complexities inherent in merging blockchain with existing energy systems. By integrating theoretical and practical viewpoints, it reveals the potential of blockchain technology to revolutionize Demand Response (DR). Findings affirm that integrating blockchain technology into SGs effectively enhances the efficiency and security of DR, and empirical data illustrate substantial improvements in both cases. Furthermore, key challenges include scalability and interoperability, and also identifying opportunities to enhance consumer engagement and foster system transparency in the adoption of blockchain within DR and SGs. Finally, this work emphasizes the necessity for further investigation to address development hurdles and enhance the effectiveness of blockchain technology in sustainable energy management in SGs.

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Section: Private Blockchain Networkmentioning

confidence: 99%

Section: Economic Considerations and Market Dynamicsmentioning

confidence: 99%

Integrating Blockchain in Smart Grids for Enhanced Demand Response: Challenges, Strategies, and Future Directions

Koukaras,

Afentoulis,

Gkaidatzis

et al. 2024

Energies

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“…Unlike such energy blockchain approaches, our scheme implements a mixed-strategy Stackelberg game to probabilistically accommodate the breadth of customer energy consumption scenarios and to effectively control block mining. This is distinct from our prior deterministic approach [43]. In addition, we use smart contract and authentication schemes, such as a digital signature algorithm and public-private keys, for energy transactions' authentication and validation to reduce cyber security attacks.…”

Section: Literature Reviewmentioning

confidence: 99%

Secure and Robust Demand Response Using Stackelberg Game Model and Energy Blockchain

Samadi,

Ruj,

Schriemer

et al. 2023

Sensors

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Demand response (DR) has been studied widely in the smart grid literature, however, there is still a significant gap in approaches that address security, privacy, and robustness of settlement processes simultaneously. The need for security and robustness emerges as a vital property, as Internet of Things (IoT) devices become part of the smart grid; in the form of smart meters, home energy management systems (HEMSs), intelligent transformers, and so on. In this paper, we use energy blockchain to secure energy transactions among customers and the utility. In addition, we formulate a mixed-strategy stochastic game model to address uncertainties in DR contributions of agents and achieve optimal demand response decisions. This model utilizes the processing hardware of customers for block mining, stores customer DR agreements as distributed ledgers, and offers a smart contract and consensus algorithm for energy transaction validation. We use a real dataset of residential demand profiles and photovoltaic (PV) generation to validate the performance of the proposed scheme. The results show the impact of electric vehicle (EV) discharging and customer demand reduction on increasing the probability of successful block mining and improving customer profits. Moreover, the results demonstrate the security and robustness of our consensus algorithm for detecting malicious activities.

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Blockchain in Smart Grids: A Review of Recent Developments

Teng

Luo

et al. 2023

Smart Sensors, Measurement and Instrumentation

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Energy Blockchain for Demand Response and Distributed Energy Resource Management

Cited by 6 publications

References 17 publications

Integrating Blockchain in Smart Grids for Enhanced Demand Response: Challenges, Strategies, and Future Directions

Integrating Blockchain in Smart Grids for Enhanced Demand Response: Challenges, Strategies, and Future Directions

Secure and Robust Demand Response Using Stackelberg Game Model and Energy Blockchain

Blockchain in Smart Grids: A Review of Recent Developments

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