Blockchain-based Peer-to-Peer Energy Trading Method

【Author】 Thompson, Myles J.; Sun, Hongjian; Jiang, Jing

【Source】CSEE JOURNAL OF POWER AND ENERGY SYSTEMS

【影响因子】6.014

【Abstract】For grid-connected neighbors within communities, blockchain-enabled peer-to-peer energy trading proves to be a coherent approach to trade energy from locally produced and distributed renewable energy resources. Effective matching among peers enables enhanced energy efficiency during energy transactions, thereby improving the power quality and preferentially increasing user welfare. The proposed algorithm builds upon work to develop a system of scoring an energy transaction. It employs a McAfee-priced double auction mechanism and assigns the scores based on the preference of factors like price, locality, and the type of energy generation, in addition to the quantity of energy being traded. These transactions are pre-evaluated by the said algorithm to determine the optimal transactional pathway. As a result, the transaction that is finally executed is the one holding the highest cumulative score. The proposed algorithm is simulated over a range of scenarios and tends to boost the user welfare percentile by an average of 75%. From an economic perspective, the algorithm may be implemented in small to large settlements while remaining stable. By reducing power loss, this energy trading algorithm empowers consumers to save around 25% on their energy costs and offers prosumers a 50% increase in revenue.

【Keywords】Pricing; Renewable energy sources; Power quality; Cost function; Blockchains; Peer-to-peer computing; Microgrids; Peer-to-peer energy trading; smart grid; blockchain; matching algorithm; renewable energy source

【发表时间】2022 SEP

【收录时间】2022-10-25

【文献类型】实验仿真

【主题类别】

区块链应用-实体经济-电力领域