A novel decentralized platform for peer-to-peer energy trading market with blockchain technology

Esmat, Ayman; Vos, Martijn de; Ghiassi-Farrokhfal, Yashar; Pálenský, Peter; Epema, Dick

doi:10.1016/j.apenergy.2020.116123

Cited by 273 publications

(140 citation statements)

References 57 publications

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“…The use of local, prosumer energy sources will require initiatives from building managers and residents themselves. A new model of energy billing between local prosumers, using blockchain technology, would be useful in this solution (smart contracts, peer-topeer market, energy transactions) [81][82][83][84][85][86][87], which requires the appropriate legal changes [88]. However, the use of blockchain in the energy sector will not be limited to settlement issues alone [85,89].…”

Section: Consequence: Digital Settlements For Energy Exchangementioning

confidence: 99%

Impact of the Lockdown during the COVID-19 Pandemic on Electricity Use by Residential Users

et al. 2021

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The COVID-19 pandemic and the associated lockdown can be regarded as a forced social experiment, the results of which show how to use energy under specific conditions. During this period, there was a reduction in electricity consumption at the level of the power system, but a different specificity distinguishes the group of household users. The article aims at presenting and analysing the identified issues concerning residential electricity users based on the experience from the COVID-19 pandemic lockdown. Data from energy meters from almost 7000 flats in Warsaw’s housing estates during the lockdown in 2020 and the analogous period before the pandemic were used. The analysis showed that, on average, residential users staying practically the whole day in their flats increased their energy consumption, but without increasing their average daily peak power, smoothing the profile in the morning hours to the level reaching the peak power that had occurred in the analogous period before the lockdown. The peak power of the sections feeding the different numbers of dwellings also remained practically unchanged during the lockdown compared to the pre-pandemic period. The pressure to work and educate remotely should contribute to an increase in the digital competence of society, which may result in an increased interest in new forms of activity and cooperation based on demand-side response and prosumption mechanisms, with digital settlements for energy exchange and services.

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Section: Consequence: Digital Settlements For Energy Exchangementioning

confidence: 99%

Impact of the Lockdown during the COVID-19 Pandemic on Electricity Use by Residential Users

et al. 2021

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“…As for the blockchain DLT concept, most energy trading applications choose a peer-to-peer exchange network [34,43,75,76]. With this decentralized peer-to-peer trading possibility, all intermediaries are redundant, and the related costs can be saved [75]. The data layer can be structured as a public (permissioned), private (permissionless), or consortium (hybrid) chain.…”

Section: Proposed Dlt Application For Eu Etsmentioning

confidence: 99%

“…In addition, each installation holder has a unique identity wallet, which contains the holder's information, emission credit balance, and the auditable transaction history, which provides traceability and supports the verification of traded emission certificates. The records of transactions of such a decentralized system, the so-called "audit trail", are anticipated to be secure, trusted, and tamper-proof [34,75].…”

Section: Proposed Dlt Application For Eu Etsmentioning

confidence: 99%

A European Emissions Trading System Powered by Distributed Ledger Technology: An Evaluation Framework

Mandaroux

Dong

Li³

2021

Sustainability

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The European Union Emissions Trading System (EU ETS) is a major pillar of the European energy policy to reduce greenhouse gas emissions. However, the reportedly pervasive frauds in this market are constraining the beneficial role of the EU ETS. In this conceptual paper, we propose to digitalize the EU ETS by distributed ledger technology (DLT), enabling the verification of authenticity and provenance, proof of ownership, and lifecycle traceability of carbon certificates and assets. Our platform allows verifiable credentials to validate emission allowances, real-time tracking of trading participants’ emissions, and the audit trail reporting of the decentralized trading records. Furthermore, we complement the DLT application concept with a structured interdisciplinary evaluation framework. Our framework and analysis aim to stimulate further interdisciplinary research in this area to support regulators, such as the European Commission, in designing effective digital emissions trading systems.

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“…These P2P energy trading models reduce the burden of electricity on a centralized power system to balance the load on the peak demand period [137], [138] and increases the profit of energy market participants [139], [140]. In addition, Esmat et al [141] used the ant colony optimization with auction in a blockchain-based energy trading to provide fast trading settlements, security, and high level of automation. The main aim of blockchain-based energy trading is to inspire and strengthen the energy trading users to trade energy with one another so that the charging rates of central power stations may not affect the productivity and efficiency of the P2P energy trading [19], [142].…”

Section: Blockchain-based Energy Tradingmentioning

confidence: 99%

A Survey on Energy Trading in the Smart Grid: Taxonomy, Research Challenges and Solutions

et al. 2021

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The smart grid is generally studied as an efficient and powerful electric grid. With the assistance of information and communication technology (ICT), the electric grid can increase the performance of the power grid system with smart energy management. On the other hand, with the usage of renewable energy resources (RERs), smart energy storage, and new transmission technologies in the power grid system, various new features such as real-time monitoring, fast restoration, battery displays, automated outage management, etc. have been assimilated into the smart grid. These new features generate more complexity in energy transmission and constitute important challenges like low energy consumption, high energy cost, social welfare, etc. while designing energy trading mechanisms in the smart grid. In the Internet-of-Things (IoT) era, several scenarios such as micro-grids, energy harvesting networks, and vehicle-to-grid (V2G) networks are present where energy trading plays an important role. However, in these scenarios, there are energy transmission and distribution, security and privacy, energy consumption, system reliability, the criticality of data delivery, and a few more challenges caused by distrust, non-transparent, and uncertain energy markets. Motivated from these challenges, we present a four-layered architecture of energy trading used in the smart grid. We propose a comprehensive background regarding the main concepts of energy trading and the implication of enabling technologies that manage the energy imbalances in the smart grid. Then, we present a problem taxonomy based on incentive, mathematical, and simulation modeldriven approaches, which are widely used to control and maintain the energy trading mechanisms. Based on the findings from the literature, we also present a solution taxonomy with enabling technologies such as Energy Internet, Software-defined networking (SDN), and blockchain. In the end, a summary of future research directions based on the energy trading mechanisms is explored to provide deep insights to the readers.

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A novel decentralized platform for peer-to-peer energy trading market with blockchain technology

Cited by 273 publications

References 57 publications

Impact of the Lockdown during the COVID-19 Pandemic on Electricity Use by Residential Users

Impact of the Lockdown during the COVID-19 Pandemic on Electricity Use by Residential Users

A European Emissions Trading System Powered by Distributed Ledger Technology: An Evaluation Framework

A Survey on Energy Trading in the Smart Grid: Taxonomy, Research Challenges and Solutions

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