Blockchains for decentralized optimization of energy resources in microgrid networks

Taha

IEEE Trans. Syst. Man Cybern, Syst.

et al. 2019

300

135

The power grid is rapidly transforming, and while recent grid innovations increased the utilization of advanced control methods, the next-generation grid demands technologies that enable the integration of distributed energy resources (DERs)and consumers that both seamlessly buy and sell electricity. This paper develops an optimization model and blockchainbased architecture to manage the operation of crowdsourced energy systems (CES), with peer-to-peer (P2P) energy trading transactions. An operational model of CESs in distribution networks is presented considering various types of energy trading transactions and crowdsourcees. Then, a two-phase operation algorithm is presented: Phase I focuses on the day-ahead scheduling of generation and controllable DERs, whereas Phase II is developed for hour-ahead or real-time operation of distribution networks. The developed approach supports seamless P2P energy trading between individual prosumers and/or the utility. The presented operational model can also be used to operate islanded microgrids. The CES framework and the operation algorithm are then prototyped through an efficient blockchain implementation, namely the IBM Hyperledger Fabric. This implementation allows the system operator to manage the network users to seamlessly trade energy. Case studies and prototype illustration are provided.

Section: B Blockchain and Energy Trading Systemsmentioning

confidence: 99%

“…The quantity P b i,t defines the output power of the batteries where i ∈ C. Negative P b i,t implies that power is withdrawn. The battery operational model [11] is described as:…”

Section: A Operational Model Of Generators Loads and Dersmentioning

confidence: 99%

Energy Crowdsourcing and Peer-to-Peer Energy Trading in Blockchain-Enabled Smart Grids

Taha

IEEE Trans. Syst. Man Cybern, Syst.

et al. 2019

300

135

Springer Optimization and Its Applications

“…We also note that convexity raises the possibility of a distributed solution method; this idea is explored in [18]. The possibility of using a blockchain to coordinate transactions in such a distributed method is considered in [26], and a similar decentralized market structure is studied in [20].…”

Section: Related Workmentioning

confidence: 99%

Dynamic Energy Management

Moehle

Busseti

Boyd

et al. 2019

We present a unified method, based on convex optimization, for managing the power produced and consumed by a network of devices over time. We start with the simple setting of optimizing power flows in a static network, and then proceed to the case of optimizing dynamic power flows, i.e., power flows that change with time over a horizon. We leverage this to develop a real-time control strategy, model predictive control, which at each time step solves a dynamic power flow optimization problem, using forecasts of future quantities such as demands, capacities, or prices, to choose the current power flow values. Finally, we consider a useful extension of model predictive control that explicitly accounts for uncertainty in the forecasts. We mirror our framework with an object-oriented software implementation, an open-source Python library for planning and controlling power flows at any scale. We demonstrate our method with various examples. Appendices give more detail about the package, and describe some basic but very effective methods for constructing forecasts from historical data.

“…It has been suggested as promising and suitable for such a decentralized decision-making process [70]. The authors in [71] present an architecture for peer-to-peer energy markets that can guarantee that operational constraints are respected and payments are fairly rendered, without relying on a centralized utility or microgrid aggregator. They demonstrate how to address trust, security and transparency issues by using blockchains and smart contracts, two emerging technologies that can facilitate decentralized coordination between non-trusting agents.…”

Section: Optimization Distributed Optimization and Blockchainmentioning

confidence: 99%

The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey

et al. 2017

Due to the rapidly-changing technologies in the power industry, many new references addressing the frameworks and business models of the next-generation retail electricity market are entering the research community. In particular, considering new customers with considerable demand response awareness and so-called prosumers with localized power generation based on distributed energy resources (DERs), the next-generation retail electricity market infrastructure will be a level playing field for local energy transactions, strategic pricing scheme design, new business model design and building an innovative energy ecosystem. Consequently, there is an urgent need to keep track of international experiences and activities taking place in the field of the market mechanism design problem at the distribution level. This paper provides a comprehensive survey of recent technology developments and aims to inspire awareness of the further deregulation of the electricity market, especially in areas close to customers. We mainly bring attention to the more than 90 articles published during the past five years. The collected literature has been divided into different sections to discuss different aspects of the next-generation retail electricity market under the deregulated power industry.