Decentralized blockchain-based peer-to-peer energy-backed token trading for active prosumers

Mehdinejad, Mehdi; Shayanfar, Heidar Ali; Mohammadi‐Ivatloo, Behnam

doi:10.1016/j.energy.2021.122713

Cited by 42 publications

(10 citation statements)

References 32 publications

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“…whereΔ𝜋 q n and Δ𝜋 v n are calculated from ( 28) and (29). Note that, here, j shows the step number within the "reactive power clearing" stage, while l shows the iteration number of the overall algorithm of the proposed framework shown in Figure 3.…”

Section: 52mentioning

confidence: 99%

“…Moreover, in [28], the P2P concept is employed to model the energy management among smart homes. Additionally, a study over the benefit of P2P active power management of residential sector from prosumers, consumers, and flexibility perspectives is conducted in [29]. Also, a P2P management scheme is proposed in [30] in order to enable the participation of prosumers in active power management as well as demand response service in energy systems.…”

Section: Introductionmentioning

confidence: 99%

“…Also, a P2P management scheme is proposed in [30] in order to enable the participation of prosumers in active power management as well as demand response service in energy systems. It is noteworthy that previous works in [18][19][20][21][22][23][25][26][27][28][29][30] have all dealt with P2P structure for trading; however, they did not consider any framework for reactive power management. As a result, it is good practice to utilize the benefits of P2P structure in a reactive power market by designing an appropriate framework for reactive power trade in order to improve the network's voltage profile, which is aimed to be done here.…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Distributed reactive power management in multi‐agent energy systems considering voltage profile improvement

Tofighi‐Milani,

Fattaheian‐Dehkordi,

Fotuhi‐Firuzabad

et al. 2023

IET Generation Trans & Dist

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In recent years, distributed structures have been developed in distribution networks as a result of privatization as well as integration of independently operated distributed energy resources (DERs) into the grid. In this context, effective management techniques seem to be necessary to enable decentralized operation of systems that have been consisted of multiple agents. Accordingly, novel management schemes should be applied in such systems to enable the distributed reactive power management, which would finally improve voltage profile in the network. As a result, this paper develops a distributed algorithm for reactive power management in multi‐agent distribution systems with the aim of improving the voltage profile of the grid. Correspondingly, in the proposed framework, several cost functions are developed to model the effects of reactive power management on the system from the distribution system operator (DSO) as well as agents’ perspectives. Consequently, the proposed reactive power management algorithm would result in voltage profile improvement, while each agent of the system merely strives to maximize its own profits. Accordingly, the proposed scheme ensures the privacy of independent agents. Finally, the proposed scheme is applied on the modified IEEE‐37‐bus test system to investigate its effectiveness on Peer‐to‐Peer (P2P) reactive power management in multi‐agent systems.

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Section: 52mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Distributed reactive power management in multi‐agent energy systems considering voltage profile improvement

Tofighi‐Milani,

Fattaheian‐Dehkordi,

Fotuhi‐Firuzabad

et al. 2023

IET Generation Trans & Dist

View full text Add to dashboard Cite

show abstract

“…However, it lacks the implementation for more accurate energy forecasting, which would improve market efficiency even more. Mehdinejad et al [35] have proposed blockchain technology-based mechanism for P2P energy token trading. The proposed approach ensures a worldwide and realistic solution while demanding no personal information from consumers and prosumers.…”

Section: Related Workmentioning

confidence: 99%

“…For efficient outcomes, netload forecasting must be improved Mehdinejad et al [35] Leverage blockchain platform to achieve P2P energy token trading…”

Section: Maximizes the Energy Pawn's Revenue Generationmentioning

confidence: 99%

Blockchain-Based Peer-to-Peer Transactive Energy Management Scheme for Smart Grid System

Kumari

Sukharamwala

Tanwar

et al. 2022

Sensors

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In Smart Grid (SG), Transactive Energy Management (TEM) is one of the most promising approaches to boost consumer participation in energy generation, energy management, and establishing decentralized energy market models using Peer-to-Peer (P2P). In P2P, a prosumer produces electric energy at their place using Renewable Energy Resources (RES) such as solar energy, wind energy, etc. Then, this generated energy is traded with consumers (who need the energy) in a nearby locality. P2P facilitates energy exchange in localized micro-energy markets of the TEM system. Such decentralized P2P energy management could cater to diverse prosumers and utility business models. However, the existing P2P approaches suffer from several issues such as single-point-of-failure, network bandwidth, scalability, trust, and security issues. To handle the aforementioned issues, this paper proposes a Decentralized and Transparent P2P Energy Trading (DT-P2PET) scheme using blockchain. The proposed DT-P2PET scheme aims to reduce the grid’s energy generation and management burden while also increasing profit for both consumers and prosumers through a dynamic pricing mechanism. The DT-P2PET scheme uses Ethereum-blockchain-based Smart Contracts (SCs) and InterPlanetary File System (IPFS) for the P2P energy trading. Furthermore, a recommender mechanism is also introduced in this study to increase the number of prosumers. The Ethereum SCs are designed and deployed to perform P2P in real time in the proposed DT-P2PET scheme. The DT-P2PET scheme is evaluated based on the various parameters such as profit generation (for prosumer and consumer both), data storage cost, network bandwidth, and data transfer rate in contrast to the existing approaches.

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Cyberphysicality: Toward a Conceptual Framework for Studying the Fourth Industrial Revolution and its Implications on Business, Communication and Learning

Subeh

2022

Studies in Systems, Decision and Control

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Decentralized blockchain-based peer-to-peer energy-backed token trading for active prosumers

Cited by 42 publications

References 32 publications

Distributed reactive power management in multi‐agent energy systems considering voltage profile improvement

Distributed reactive power management in multi‐agent energy systems considering voltage profile improvement

Blockchain-Based Peer-to-Peer Transactive Energy Management Scheme for Smart Grid System

Cyberphysicality: Toward a Conceptual Framework for Studying the Fourth Industrial Revolution and its Implications on Business, Communication and Learning

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