Blockchain-based Peer-to-Peer Energy Trading

Abstract

The integration of distributed energy resources in smart grids have opened new venues for the Energy Management System. Since data calculation from smart meters is a major time-constraint, due to the available amount of data gathered by the Energy Management System, evidence from several studies suggests that the use of Blockchain would help to take control of the Peer-to-Peer energy trading transactions between prosumers. Blockchain can be used to reduce the computational burden involved in communication and decision making. On this paper we present a Peer-to-Peer energy trading based on Blockchain, taking into consideration some of the physical constraints on the distribution network. The objective of the model presented is to help the substation on-peak hours while enabling users to have more control on their contributions into the grid, with the focus on the use of renewable energies as a flexible source. The main contribution is the design of the smart contract that considers a radial low-voltage distribution network under a decentralized scheme in smart grids.