Towards Blockchain-Based Energy Trading: A Smart Contract Implementation of Energy Double Auction and Spinning Reserve Trading

【Author】 Damisa, Uyikumhe; Nwulu, Nnamdi, I; Siano, Pierluigi

【Source】ENERGIES

【影响因子】3.252

【Abstract】The decentralization of power generation driven by the rise in the adoption of distributed energy resources paves the way for a new paradigm in grid operations. P2P energy trading is beneficial to the grid as well as the connected peers. A blockchain-based smart contract is well suited to transparently facilitate trades between energy consumers and producers without the services of intermediaries. In this paper, Ethereum-based smart contracts that facilitate double energy auction and spinning reserve trading are developed with Solidity, compiled, and deployed within the Remix IDE. Willing energy sellers/buyers submit offers/bids to a contract that implements the double auction procedure. In order to fulfil energy supply obligations, sellers are also able to purchase spinning reserves via another smart contract. The smart contracts' effectiveness in performing the auction procedure and making payments is confirmed using an energy/reserve market scenario. The proposed scheme encourages further adoption of distributed energy resources and participation in local P2P energy trading.

【Keywords】blockchain; double auction; P2P energy trading; spinning reserve; smart contract

【发表时间】2022 JUN

【收录时间】2022-06-22

【文献类型】理论性文章

【主题类别】

区块链应用-实体经济-能源领域