Blockchain Driven Platform for Energy Distribution in a Microgrid

Choudhry, Arjun; Dimobi, Ikechukwu; Gould, Zachary M. Isaac

doi:10.1007/978-3-030-31500-9_18

Cited by 4 publications

(5 citation statements)

References 9 publications

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“…The individual excess energy after covering CP demand (CP x > 0) is then received by the local aggregator to leverage subsequent monetary benefit or further use for energy trading purposes. A similar analogy was discussed in Reference [52], where an apartment unit with a positive value difference was titled a prosumer, whilst a unit with negative value becomes a consumer. Equations ( 6)-( 8) determine the values for the CA strategy.…”

Section: Consumption Based Allocationmentioning

confidence: 78%

“…Table 1 includes three site characteristics, type of CP loads and renewable system installed. A PV energy distributed model for the apartment buildings was mainly comprised of a common utility sharing model [52] where PV generation supplies CP load. This is the simplest model, which ensures an equity in energy sharing.…”

Section: Common Property Loads At Wgvmentioning

confidence: 99%

“…Consequently, the apartment, which utilizes least electricity or displays efficient load consumption is credited with high excess energy and cost benefits. A similar convention is shown in Reference [52], where the apartment residents are considered as prosumer and consumer based on their energy consumption with the energy efficient user receiving more cost incentives. The apartment residents in Figure 11 are alphabetically named PX (where x = apartment).…”

Section: Comparison Of Strategiesmentioning

confidence: 99%

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Energy Allocation Strategies for Common Property Load Connected to Shared Solar and Battery Storage Systems in Strata Apartments

2020

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Common property (CP) is a significant consumer of electricity in apartment buildings. Although some apartments in Australia have adopted shared microgrid configurations to offset grid consumption, the characteristics and load patterns of CP are rarely discussed due to lack of available data. As common areas normally constitute part of owner corporations, energy distribution in these premises requires attention. This paper presents empirical analysis of the CP load connected to shared solar and battery storage for three apartment complexes located in Perth Australia. Load patterns for CP over a defined dataset period were analyzed, and grid usage reduction was examined by implementing and comparing three energy allocation strategies based on surplus energy utilization. The findings indicated significant grid usage reduction for CP load in different apartments after implementation of three strategies. Instantaneous consumption decreased 72%, and surplus allocation strategy reduced 91%, while consumption-based allocation reduced 76%, of grid electricity. Moreover, consumption-based allocation offered improved cost benefits compared to the other two strategies. The results further revealed the usefulness of energy allocation and effectiveness of surplus energy utilization. Based on outcomes, the strategies provide consolidation with conventional energy trading mechanisms and broadly link to the virtual power plant concept for coordinating energy flows between multiple generators.

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Section: Consumption Based Allocationmentioning

confidence: 78%

Section: Common Property Loads At Wgvmentioning

confidence: 99%

Section: Comparison Of Strategiesmentioning

confidence: 99%

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Energy Allocation Strategies for Common Property Load Connected to Shared Solar and Battery Storage Systems in Strata Apartments

2020

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“…The reviewed research articles have primarily used case studies as a mean of testing the developed mechanisms and systems [40,50]. Additionally, some articles use data from various smart grids and utility companies to simulate the performance on actual grids [51,52]. Many projects focused on smart contracts have used solidity as the language to write the contracts [53], whereas GridLab-D has been used frequently to simulate smart grids [40].…”

Section: Review Of Methodologies Usedmentioning

confidence: 99%

Impact of Blockchain Technology on Smart Grids

Khan

Masood

2022

Energies

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Energy systems are transforming due to the incorporation of multiple distributed energy resources, such as renewable energy and battery storage systems. This transformation has triggered a need to shift power distribution from a low efficiency centralized model with high coordination costs to a decentralized distribution system comprising smart grids. Researchers have discovered a number of uses for blockchain technology in the energy sector because of its decentralized structure and possibility for safe transactions. In order to pinpoint current trends and important research directions in this area, this article thoroughly examines the effects of blockchain technology on smart grids and distributed energy resources. The aim of this paper is also to identify research gaps and future research initiatives in the area of blockchain-based energy distribution. To do this, 92 research publications were subjected to a comprehensive literature review based on predetermined criteria. Transactive Energy, Electric Vehicle Integration, Privacy and Security, and Demand Response, together with some other relatively fresh and unexplored topics, were, therefore, highlighted as four major focal areas of blockchain energy research. We have also drawn attention to the gaps in the research that has already been done and the constraints imposed by present systems that must be removed before blockchain technology can be widely used.

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“…One of the blockchain project in smart grid is provided by Belgian Enervalis company and Dutch Eemnes Energie company 16 . Also, there are some projects in UK and USA which use blockchain technology 17‐19 For example, LO3 Energy, a young New York company, is working in the Brooklyn Microgrid project 20 . In UK, Centrica company aims to make a local energy market using blockchain technology 21 .…”

Section: Introductionmentioning

confidence: 99%

Smart contract for electricity transactions and charge settlements using blockchain

Wu²,

Cheng³

et al. 2020

Appl Stoch Models Bus & Ind

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In this article, aimed at the future “let go” electricity market, smart contracts for grid enterprises doing electricity transactions and charge settlements based on blockchain technology, as well as the trading model using the smart contracts, are proposed. Then the key technological difficulties are analyzed, and the solutions are given. The main goal of our research is to help developing the infrastructure for electricity market members, and match their bilateral trading. By running a smart contract instance in a peer‐to‐peer network composed by 4000 nodes, experiments show that the success rate is 99.38% and the average time consumption for each transaction is 16 seconds. If our method is applied, we can reduce the trust cost of the electric electricity market, and improve the efficiency of the electricity transaction and charge settlement.

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Blockchain Driven Platform for Energy Distribution in a Microgrid

Cited by 4 publications

References 9 publications

Energy Allocation Strategies for Common Property Load Connected to Shared Solar and Battery Storage Systems in Strata Apartments

Energy Allocation Strategies for Common Property Load Connected to Shared Solar and Battery Storage Systems in Strata Apartments

Impact of Blockchain Technology on Smart Grids

Smart contract for electricity transactions and charge settlements using blockchain

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