Trading mode design for a virtual power plant based on main-side consortium blockchains

Yin, Shuangrui; Ai, Qian; Li, Jiamei; Li, Da; Guo, Qinglei

doi:10.1016/j.apenergy.2022.119932

Cited by 18 publications

(6 citation statements)

References 32 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In the process of electricity production and consumption, there will be emissions of carbon dioxide [14]. In this paper, we take Guidelines for Accounting Greenhouse Gas Emissions from Chinese Magnesium Smelting Enterprises to estimate the CO2 emission.…”

Section: Methodsmentioning

confidence: 99%

“…Moreover, as the increasing openness of the electricity market and the access to a high proportion of distributed resources, trading entities are becoming increasingly diversified and decentralized. The need for transparency and credibility in transactions has been enhanced [11][12][13][14]. Literature [15] established a blockchain spot trading mechanism that considers both electric energy and carbon emissions trading, which simulation results shown that it can effectively improved the enthusiasm and trading efficiency of every trading entity participating in the power Spot market.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Research on the Impact of Industrial enterprises Participation in the Peak shaving Auxiliary Service Market on Carbon Dioxide Emission

Sun¹,

Zhang²,

Zhu

et al. 2023

E3S Web of Conf.

View full text Add to dashboard Cite

With the advancement of the construction of new power systems, industrial enterprises participation in the peak shaving auxiliary service market is increasing. This paper proposes a model to estimate the impact of industrial enterprises participation in the peak shaving auxiliary service market on carbon dioxide emission, and designs a blockchain-based platform architecture to ensure the credibility of transaction of the aggregation trade. The simulation results indicate that most enterprises in the magnesia park use electricity during normal and valley hours. Transferring electricity consumption from peak hours to flat and low periods will reduce carbon dioxide emissions. Moreover, a blockchain-based aggregation platform architecture is an attractive measure too. Besides, the carbon dioxide emission factor of the power grid and the production proportion of primary energy show an opposite trend.

show abstract

Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Research on the Impact of Industrial enterprises Participation in the Peak shaving Auxiliary Service Market on Carbon Dioxide Emission

Sun¹,

Zhang²,

Zhu

et al. 2023

E3S Web of Conf.

View full text Add to dashboard Cite

show abstract

“…For every MWh of generated solar energy, participants can receive SolarCoins, providing a financial incentive for adopting clean energy practices 38.6% and the overall cost of the system by 11.2%. In Yin et al, 93 a trading mode for VPPs is designed to solve the problems of multi-layer coordination and lack of trust between market institutions, which has more studied the trading behavior of aggregators. A power energy transaction scheme under VPPs based on the Ethereum network-based blockchain is proposed in Wang et al 94 In Wang et al, 95 a decentralized credit system is designed to simulate real-world trust in blockchain-based P2P energy trading.…”

Section: Virtual Power Plant (Vpp)mentioning

confidence: 99%

Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

Parhamfar,

Sadeghkhani,

Adeli

2024

Energy Science & Engineering

View full text Add to dashboard Cite

The increasing trend of energy generation and management systems towards decentralized structures such as using renewable energy resources makes it necessary to use digital and smart platforms for exchanging information and even conducting financial transactions in a decentralized manner, known as the peer‐to‐peer model. The decentralized transaction verification of cryptocurrencies makes it possible to use these encrypted currencies and decentralized blockchain networks in energy management systems and carry out financial transactions related to carbon trading. Carbon and other greenhouse gas (GHG) emission trading systems reduce the competitiveness of fossil fuel projects in the market and accelerate investment in low‐carbon energy sources such as wind and photovoltaic power generation units. This market mechanism allows large entities such as countries and companies that emit GHGs into the atmosphere to buy and sell these gases. This paper reviews the blockchain solutions developed for carbon markets. Studies related to the design of smart contracts in the platform of blockchain are investigated. Special cryptocurrencies that are used in the field of green energy transactions and carbon trading are introduced. In addition, the application of artificial intelligence and game theory in energy trading is stated. The study of different blockchain frameworks for carbon trading shows that the use of decentralized platforms in carbon trading can have a significant impact on the trend towards low‐carbon measures and achieving the goals of the Kyoto Treaty, increasing the value of green cryptocurrencies and the volume of transactions. These technologies offer a promising avenue for creating a more decentralized, efficient, and environmentally conscious energy ecosystem.

show abstract

“…In view of the traditional energy market's low transaction efficiency and insufficient data security, the development is restricted. Yin et al (2022) propose a virtual power plant (VPP) transaction mechanism based on blockchain from the perspective of the stability on matching supply and demand and priority of renewables, which solves the problem of scheduling difficulty and low transaction efficiency of VPP. Ashfaq et al (2022) propose a distributed renewable energy transaction authentication mechanism based on consortium chain, which solves the regulatory problems of electricity institutions.…”

Section: Related Workmentioning

confidence: 99%

Trading excess consumption certificates on the blockchain using the cooperative game theory

Ergün

2023

View full text Add to dashboard Cite

PurposeThe purpose of this study is to propose a decentralized multi-party cross-trading scheme based on a certificate transaction mechanism for the transaction of excess consumption certificates (ECCs) of renewable energy. The aim is to address the problems associated with the existing centralized transaction mode and to promote the development of the green electricity industry.Design/methodology/approachThe proposed scheme involves calculating the quotation difference for the same type of certificate transaction based on the quotations of all users of both buyers and sellers. The transaction volume is then determined based on the order of quotation difference from large to small, and the total interests of cooperation are calculated. The nucleolus method is adopted to allocate the total interests to each member of the alliance and calculate the final transaction price. The blockchain technology is used for the transaction to achieve accurate traceability and efficient supervision, and a corresponding smart contract is designed and simulated in the Ethereum consortium chain.FindingsThe results of the simulation show the rationality and effectiveness of the proposed scheme. The decentralized multi-party cross-trading scheme can overcome the problems associated with the existing centralized transaction mode, such as low transaction efficiency, difficulty in obtaining the optimal transaction strategy and efficient supervision. The proposed scheme can promote the development of the green electricity industry by stimulating users' demand potential for green electricity.Originality/valueThe proposed scheme is original in its use of a certificate transaction mechanism to facilitate the trading of ECCs of renewable energy. The scheme adopts a decentralized multi-party cross-trading approach that overcomes the problems associated with the existing centralized transaction mode. The use of the nucleolus method for the allocation of total interests to each member of the alliance is also original. Finally, the use of blockchain technology for accurate traceability and efficient supervision of the transaction is an original contribution to the field.

show abstract

Trading mode design for a virtual power plant based on main-side consortium blockchains

Cited by 18 publications

References 32 publications

Research on the Impact of Industrial enterprises Participation in the Peak shaving Auxiliary Service Market on Carbon Dioxide Emission

Research on the Impact of Industrial enterprises Participation in the Peak shaving Auxiliary Service Market on Carbon Dioxide Emission

Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

Trading excess consumption certificates on the blockchain using the cooperative game theory

Contact Info

Product

Resources

About