Blockchain-based solution for energy demand-side management of residential buildings

Kolahan, Arman; Maadi, Seyed Reza; Teymouri, Zahra; Schenone, Corrado

doi:10.1016/j.scs.2021.103316

Cited by 35 publications

(4 citation statements)

References 61 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The approach considers user preferences and cost balance in energy management that improves peak-to-average ratio (PAR), cost, and energy consumption in SG networks. The paper [26] investigates blockchain-based DSM, focusing on PAR reduction and minimizing power consumption.…”

Section: Literature Reviewmentioning

confidence: 99%

Smarter Grid in the 5G Era: Integrating the Internet of Things With a Cyber-Physical System

Saleem,

Usman,

Yaqub

et al. 2024

IEEE Access

View full text Add to dashboard Cite

The Smart Grid, a fusion of digital technologies and advanced communication methods, enables the transformation of power distribution, transmission, and generation by responding to fluctuations in electricity consumption. Conventional electrical grids often leave consumers unaware of their energy usage patterns, resulting in both energy wastage and financial loss. To enhance energy efficiency, the consumption patterns of consumers need regulation. Smart Grids efficiently employs Demand-Side Management (DSM) strategies, including peak clipping, load shifting, and consumer awareness campaigns, to optimize energy consumption and achieve energy savings. DSM's synergy with smart meters and smart energy management systems (SEMS) emerges as a powerful trio in comprehensive energy conservation and optimization. The integration of SEMS with the Internet of Things (IoT), augmented by the advancements in 5G technology, emerges as a transformative paradigm. SEMS, operating within the IoT ecosystem bolstered by 5G connectivity, facilitates the instantaneous and efficient integration of IoT in SEMS, enabling real-time data collection, in-depth analysis, and data-driven decisions for optimal energy management. This empowers users with the ability to make data-driven decisions, yielding tangible outcomes in the form of efficacy, cost reductions, and fortified sustainability initiatives. We present a SEMS that amalgamates three microcontroller units to create a smart meter that is further integrated with a cloud-based middleware module and consumer API. Furthermore, it collects vital power metrics such as voltage, current, kWh, kW, and PF. Consumers can conveniently access this data in real-time via an API. Energy service companies can leverage this data for incentive programs and to motivate customers to optimize their energy consumption. These datasets serve as a foundational element for the development of diverse DSM strategies. This research work presents the deployment, and performance evaluation of an IoT-based SEMS that is implemented in diverse settings, including industrial, commercial, building, and warehouse setups. Moreover, as a test case, our evaluation extends to the specific conservation of energy within air-conditioning systems. The SEMS achieves significant energy conservation, with calculated savings ranging from 5% to 53%, showcasing its effectiveness in targeted energy management. The real-time data and case studies further demonstrate the efficiency of the presented work.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

Smarter Grid in the 5G Era: Integrating the Internet of Things With a Cyber-Physical System

Saleem,

Usman,

Yaqub

et al. 2024

IEEE Access

View full text Add to dashboard Cite

show abstract

“…Presently there are numerous demand response schemes which could be classified broadly either into price-based or incentive-based DR schemes. Few of these DR schemes could be called with different names [5,6,7,8] like economic and emergencybased DR schemes, marked led and system led DR schemes, indirect and direct DR schemes.…”

Section: Characteristics Of the Energy Demand Of Residential Sectormentioning

confidence: 99%

Demand Side Management and Demand Response for Optimal Energy Usage: An Overview

Paul

Siddiqui

Kirmani³

2022

PIJR

View full text Add to dashboard Cite

Being more than a decade old idea, the Demand-side management (DSM) is among the most vital part of the modern smart grid. DSM enables the utilities to minimize the gap between the supply and the demand by optimizing their pattern of user loads. At the same time, it helps them in achieving economic and energy efficient systems by reducing the peak to average (PAR). The implementation of DSM programs by the utilities could help them in improving their reliability, power quality, energy, and system efficiency. On the other hand, customers could be use it to improve their load profile, reduce the peak demands, save energy, and motivate them use more and more renewable energy. Thus, both the utilities and the consumers get benefitted by the implementation of DSM program in the smart grid. This study tries to understand the application of energy efficient policies and the demand response techniques with various DSM strategies. The study mainly focuses on the various characteristics that would lead to effective implementation of DSM programs with particular attention of the residential energy demand. Also, there will be a focus on enhancement of energy efficiency leading to more effective policy responses. The researchers could find this study very helpful as it could be employed to maximize the utility profits, the total load factor, peak demand and also minimize the consumer usage bills.

show abstract

“…This enables consumers to purchase RECs directly Blockchain is a promising technology for power systems [6], especially for the development of smart grids [7]. Most of the existing literature on blockchain technology for renewable energy concentrates on energy-related aspects, such as P2P energy trading [8][9][10] and resource optimization [11][12][13] among distributed energy producers, consumers, and prosumers. As for the application of blockchain in the REC trade, in [14], the authors analyzed the shortcomings of the current centralized REC issuance and tracking system and proposed a blockchain-based improvement for tokenizing RECs into non-fungible tokens.…”

Section: Introductionmentioning

confidence: 99%

Blockchain-Based Renewable Energy Certificate Trade for Low-Carbon Community of Active Energy Agents

Fu,

Tan,

2023

Sustainability

View full text Add to dashboard Cite

The future distribution grid is a peer-to-peer (P2P) community formed by a large number of active energy agents (AEAs), and renewable energy certificate (REC) trading is an efficient way to realize a low-carbon AEA community. AEAs can trade not only electricity but also RECs among themselves to economically and efficiently meet the renewable portfolio standard (RPS) requirements. Aiming to lower the market barrier and increase the trading benefits for market participants, this paper proposes a blockchain-based renewable energy certificate (BCREC) that supports divisible and multiple transactions. The trade process includes four stages: setup, pre-transaction, transaction, and post-transaction. A scheme based on blockchain oracles and smart contracts is implemented to achieve decentralized BCREC issuance and transaction and to support a more flexible trading market. By exploring two typical market scenarios, we verify the advantages of BCREC trading and evaluate its impacts on AEA profits and market efficiency.

show abstract

Blockchain-based solution for energy demand-side management of residential buildings

Cited by 35 publications

References 61 publications

Smarter Grid in the 5G Era: Integrating the Internet of Things With a Cyber-Physical System

Smarter Grid in the 5G Era: Integrating the Internet of Things With a Cyber-Physical System

Demand Side Management and Demand Response for Optimal Energy Usage: An Overview

Blockchain-Based Renewable Energy Certificate Trade for Low-Carbon Community of Active Energy Agents

Contact Info

Product

Resources

About