Experiment of Execution Time in Decentralized Transaction System of Surplus PV Output using Blockchain

Nagatsuka, Takumi; Sano, Moriaki; Yamaguchi, Nobuyuki

doi:10.1541/ieejpes.140.176

Cited by 5 publications

(5 citation statements)

References 3 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Equations ( 2)- (5) show the tidal equations for active and reactive power, respectively, and by adding a term for PV output curtailment P cur to Equations ( 2) and (3), the voltage upper and lower limit constraints are satisfied by substituting a value for P cur when the voltage upper and lower limit constraints shown in Equation ( 6) are not satisfied. Equation (7) shows the phase angle constraints for each node, and Equation (8) shows the upper bound constraints on the amount of output curtailment so that no more curtailment than surplus power is allowed.…”

Section: Calculation Of Output Curtailmentmentioning

confidence: 99%

“…P2P is an abbreviation for Peer to Peer, meaning transactions between equals, and the P2P power trading market is a market where consumers who sell surplus power (hereinafter referred to as "prosumers") and consumers who purchase power (hereinafter referred to as "consumers") exchange power. In P2P power trading, a blockchain (BC)-based power trading system has been proposed and tested [7]. In these studies, we evaluate automatic bidding, matching, profit in P2P power trading use, and intelligent contract processing capability in power trading built on BC.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

A Voltage-Aware P2P Power Trading System Aimed at Eliminating Unfairness Due to the Interconnection Location

Takayama,

Ishigame

2024

Energies

View full text Add to dashboard Cite

P2P power trading is necessary for efficiently using consumer electricity not subject to FIT. However, the execution rules for P2P power trading do not include restrictions on voltage, and there is a trade-off between the activation of the P2P power trading market through the mass introduction of PV and the optimization of the voltage of the power distribution system. In addition, there is a tendency for output curtailment to be biased toward consumers connected to the end of the grid. Since consumers cannot choose the interconnection location, there are concerns about unfairness. In this study, we investigate a new P2P model that includes voltage constraints for the execution rules of P2P power trading to avoid voltage deviation while ensuring benefits and fairness for the participants. In the proposed model, to increase the incentive to participate in the P2P power trading market, we consider compensating consumers who receive output curtailment signals due to voltage constraints. In addition, the profit is secured by differentiating the compensation cost unit price depending on the contract’s availability. A case study was conducted on this model using the IEEE 33 bus system. The results show that the proposed model is superior.

show abstract

Section: Calculation Of Output Curtailmentmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

A Voltage-Aware P2P Power Trading System Aimed at Eliminating Unfairness Due to the Interconnection Location

Takayama,

Ishigame

2024

Energies

View full text Add to dashboard Cite

show abstract

“…The wheeling charges are not considered in this study; therefore, the P2P transaction fees are the same for both the seller and buyer. Therefore, the third and fourth terms on the right side of (1) are negated when using the constraint in (5) to sum the total amounts for all prosumers in (1) to determine the total energy cost. When considering the wheeling charges, a difference equivalent to the wheeling charge unit cost needs to be provided in the P2P transaction price.…”

Section: Prosumer Behavior Modelmentioning

confidence: 99%

“…For example, Ref. [5] proposed building a PV surplus electricity transaction system using blockchain technology and smart contracts, in which virtual currency tokens are used to conduct P2P transactions and verify factors such as the time for transaction processing. In Ref.…”

Section: Introductionmentioning

confidence: 99%

Merit Evaluation of Peer‐to‐Peer Electricity Trading Between Prosumers

Odashiro¹,

Hara²,

Kita³

2022

IEEJ Transactions Elec Engng

View full text Add to dashboard Cite

The enforcement of a feed‐in tariff (FIT) program in Japan has increased the number of installations of photovoltaic generation systems in its residential sector. After the end of an FIT program, the surplus electricity of an individual prosumer is purchased by the utility company at a reduced price, which may have an economic impact on the prosumer. To avoid this adverse effect, peer‐to‐peer (P2P) electricity transactions among prosumers based on blockchain and smart contract technologies as well as introduction of residence‐use stationary storage batteries are generating significant interest. In this study, the potential economic merit of P2P transactions and residential storage battery introduction are evaluated using a total optimization approach. For realizing a more practical perspective, this study also investigates the economic merit based on a partial optimization approach, in which an individual prosumer pursues its own profit. Furthermore, in this study, the grid‐side merit of P2P electricity transactions among prosumers is examined. Comparison of the merits determined by the total and partial optimization approaches shows that the realization of P2P transactions could provide a notable economic merit to the participants and reduce both the required facility capacity and power flow variation. © 2022 Institute of Electrical Engineers of Japan. Published by Wiley Periodicals LLC.

show abstract

“…Several energy management system providers in Japan, such as ENERES Co., Ltd. [15], UPDATER, Inc. (formerly Minna-Denryoku, Inc.) [16], and Energies 2021, 14, 7418 2 of 18 Hitachi, Ltd. [17,18] have commercialized blockchain-based systems to actualize and trace non-fossil fuel energy values. In addition to tracing power on blockchain-based databases, several studies have attempted to seamlessly access devices [19] and control electricity delivery according to P2P-matched results [20,21]. Moreover, demonstration projects implementing the P2P energy market on real power grids have gradually increased.…”

Section: Introductionmentioning

confidence: 99%

Feasibility Conditions for Demonstrative Peer-to-Peer Energy Market

2021

View full text Add to dashboard Cite

Distributed energy resources (DERs) play an indispensable role in mitigating global warming. The DERs require flexibility owing to the uncertainty of their power output when connected to the power grid. Recently, blockchain technology has actualized peer-to-peer (P2P) energy markets, promoting efficient and resilient flexibility in the power grid. This study aimed to extract insights about the contribution of the P2P energy markets to ensuring flexibility through analyzing transaction data. The data source was a demonstration project regarding the P2P energy markets conducted from 2019 to 2020 in Urawa-Misono District, Japan. The participants in the project were photovoltaic generators (PVGs), convenience stores (CSs), and residences equipped with battery storage as the only flexibility in the market. We quantitatively analyzed the prices and volumes ordered or transacted by each participant. The execution prices purchased by the residences were lower than those purchased by CSs; the differences between execution prices and order prices of the residences were narrower than those of PVGs and CSs; the lower state-of-charge (SoC) in the storage battery induced the higher purchasing prices. Thus, P2P energy markets, where holding flexibility resulted in the advantageous position, can promote installing flexibility through market mechanisms.

show abstract

Experiment of Execution Time in Decentralized Transaction System of Surplus PV Output using Blockchain

Cited by 5 publications

References 3 publications

A Voltage-Aware P2P Power Trading System Aimed at Eliminating Unfairness Due to the Interconnection Location

A Voltage-Aware P2P Power Trading System Aimed at Eliminating Unfairness Due to the Interconnection Location

Merit Evaluation of Peer‐to‐Peer Electricity Trading Between Prosumers

Feasibility Conditions for Demonstrative Peer-to-Peer Energy Market

Contact Info

Product

Resources

About