A Blockchain-Enabled Decentralized Energy Trading Mechanism for Islanded Networked Microgrids

【Author】 Masaud, Tarek Medalel; Warner, Jonathan; El-Saadany, Ehab Fahmy

【Source】IEEE ACCESS

【影响因子】3.476

【Abstract】Interconnected microgrids are becoming a building block in smart systems. Initiating secure and efficient energy trading mechanisms among networked microgrids for reliability and economic mutual benefits have become a crucial task. Recently, integrating blockchain technologies into the energy sector have gained significant amount of interest, e.g. transactive grid. This paper proposes a two-layer secured smart contract-based energy trading mechanism to allow microgrids to establish coalitions, adjust the electricity-trading price, and achieve transparent and decentralized secure transactions without intervention of a third trusted party. Since reliability benefits are main drivers of microgrids operation in islanded mode, a new decentralized smart contract based-energy trading model for islanded networked microgrids is proposed in the first layer with an objective to achieve demand generation balance. In the second layer, and to achieve a higher security, all executed contracts are verified and saved in a blockchain based on a new developed two-phase consensus method that utilizes practical Byzantine Fault Tolerance (pBFT), and a modified Proof of Stake (PoS). Simulations are conducted in Python environment to validate the proposed energy trading model.

【Keywords】Networked microgrids; smart contracts; blockchain; energy trading

【发表时间】2020

【收录时间】2022-01-02

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