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

Wang, Shen; Taha, Ahmad F.; Wang, Jianhui; Kvaternik, Karla; Hahn, Adam

doi:10.1109/tsmc.2019.2916565

Cited by 302 publications

(155 citation statements)

References 30 publications

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“…A blockchain is a distributed ledger, the integrity of which is ensured through interlinked, cryptographically signed, and time-stamped blocks that contain transactions [2,9]. The data and transactions in blocks are validated by all participants ("nodes") based on a well-defined consensus protocol without a trusted third party.…”

Section: Blockchain and Privacymentioning

confidence: 99%

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Privacy-Preserving Peer-to-Peer Energy Trading in Blockchain-Enabled Smart Grids Using Functional Encryption

Son

Kwon

et al. 2020

Energies

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Advanced smart grid technologies enable energy prosumers to trade surplus energy from their distributed renewable energy sources with other peer prosumers through peer-to-peer (P2P) energy trading. In many previous works, P2P energy trading was facilitated by blockchain technology through blockchain’s distributive nature and capacity to run smart contracts. However, the feature that all the data and transactions on a blockchain are visible to all blockchain nodes may significantly threaten the privacy of the parties participating in P2P energy trading. There are many previous works that have attempted to mitigate this problem. However, all these works focused on the anonymity of participants but did not protect the data and transactions. To address this issue, we propose a P2P energy trading system on a blockchain where all bids are encrypted and peer matching is performed on the encrypted bids by a functional encryption-based smart contract. The system guarantees that the information encoded in the encrypted bids is protected, but the peer matching transactions are performed by the nodes in a publicly verifiable manner through smart contracts. We verify the feasibility of the proposed system by implementing a prototype composed of smart meters, a distribution system operator (DSO) server, and private Ethereum blockchain.

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Section: Blockchain and Privacymentioning

confidence: 99%

“…Distributed renewable energy sources, such as solar panels and wind turbines, are drastically changing the way electricity is generated and consumed [1,2]. Energy prosumers, i.e., energy consumers producing their own electrical power, are rapidly proliferating.…”

Section: Introductionmentioning

confidence: 99%

Privacy-Preserving Peer-to-Peer Energy Trading in Blockchain-Enabled Smart Grids Using Functional Encryption

Son

Kwon

et al. 2020

Energies

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“…Münsing et al [16] present a blockchain-enabled decentralized P2P market-clearing algorithm using a convexified AC optimal power flow (OPF) and exploit the distribution locational marginal prices (DLMPs) to settle transactions among peers. Building on [16], Wang et al [17], [18] leverage blockchains to design a "Crowdsourced energy system" with a P2P energy trading for day-ahead and real-time operations. Although [16]- [18] incentivize P2P interactions, they do not compensate the power utilities for peers' usage of the distribution network.…”

mentioning

confidence: 99%

“…Building on [16], Wang et al [17], [18] leverage blockchains to design a "Crowdsourced energy system" with a P2P energy trading for day-ahead and real-time operations. Although [16]- [18] incentivize P2P interactions, they do not compensate the power utilities for peers' usage of the distribution network.…”

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confidence: 99%

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A P2P-Dominant Distribution System Architecture

Kim

Dvorkin

2020

IEEE Trans. Power Syst.

148

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Peer-to-peer interactions between small-scale energy resources exploit distribution network infrastructure as an electricity carrier, but remain financially unaccountable to electric power utilities. This status-quo raises multiple challenges. First, peer-to-peer energy trading reduces the portion of electricity supplied to end-customers by utilities and their revenue streams. Second, utilities must ensure that peer-to-peer transactions comply with distribution network limits. This paper proposes a peer-to-peer energy trading architecture, in two configurations, that couples peer-to-peer interactions and distribution network operations. The first configuration assumes that these interactions are settled by the utility in a centralized manner, while the second one is peer-centric and does not involve the utility. Both configurations use distribution locational marginal prices to compute network usage charges that peers must pay to the utility for using the distribution network.

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GarliChain : A privacy preserving system for smart grid consumers using blockchain

Dahunsi

Javaid

2021

Intl J of Energy Research

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This paper proposes a blockchain system, known as GarliChain, to solve the problems of anonymity and privacy of consumers during energy trading in the smart grids. It is inspired by both garlic routing and consortium blockchain. In the GarliChain, identity-based encryption is used to encrypt the messages of consumers twice before transmitting them to other nodes. A stochastic path selection model is presented in this work to route messages from the source node to the destination node. Furthermore, a trust method is proposed to enhance the credibility of nodes in the network. Simulation results validate the effectiveness of the proposed system. From the results, the proposed system remains stable as the number of path requests increases. Also, the proposed trust method is 50.56% efficient in detecting dishonest behavior of nodes in the network as compared to 49.20% of an existing fuzzy trust model. Under different sizes of the blocks, the computational cost of the forwarding nodes is minimum. The security analysis shows that the system is safe from both passive and active attacks. Malicious nodes are detected using the path selection model. Moreover, a comparative study of the proposed system with existing systems in the literature is provided.

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

Cited by 302 publications

References 30 publications

Privacy-Preserving Peer-to-Peer Energy Trading in Blockchain-Enabled Smart Grids Using Functional Encryption

Privacy-Preserving Peer-to-Peer Energy Trading in Blockchain-Enabled Smart Grids Using Functional Encryption

A P2P-Dominant Distribution System Architecture

GarliChain : A privacy preserving system for smart grid consumers using blockchain

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