2024
DOI: 10.1109/access.2023.3347432
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Integrating Forecasting Service and Gen2 Blockchain Into a Local Energy Trading Platform to Promote Sustainability Goals

Liaqat Ali,
M. Imran Azim,
Nabin Babu Ojha
et al.

Abstract: Peer-to-peer (P2P) trading in a local energy market (LEM) offers various participants the opportunity to negotiate and strike energy deals among themselves using a distributed ledger technology called blockchain. In this paper, a new local model is presented using a layer-2 scalability solution for secondgeneration (Gen2) blockchain technology to enable P2P trading among four types of participants: consumers, prosumers with solar photovoltaic (PV) systems, prosumers with solar PV systems and battery energy sto… Show more

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Cited by 4 publications
(2 citation statements)
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“…The utilization of VB model serves multiple purposes within the energy management landscape, it is employed to aggregate capacity [8], and to facilitate frequency regulation [26] , while also serving as the foundation for management and planning tools [18], [27]. In comparison, the integration of battery storage systems (BSS) at both residential and community scales contributes to enhanced control flexibility and cost savings, as reported in [28]- [30]. Recent research endeavors have increasingly focused on exploring the integration of BSS with LEM and P2P systems, as in [28]- [32].…”
Section: Maximum Capacity Payback Control Sensitivitymentioning
confidence: 99%
“…The utilization of VB model serves multiple purposes within the energy management landscape, it is employed to aggregate capacity [8], and to facilitate frequency regulation [26] , while also serving as the foundation for management and planning tools [18], [27]. In comparison, the integration of battery storage systems (BSS) at both residential and community scales contributes to enhanced control flexibility and cost savings, as reported in [28]- [30]. Recent research endeavors have increasingly focused on exploring the integration of BSS with LEM and P2P systems, as in [28]- [32].…”
Section: Maximum Capacity Payback Control Sensitivitymentioning
confidence: 99%
“…These methods often involve the use of ESS, especially Battery Energy Storage Systems (BESS), to emulate the kinetic energy of rotor systems traditionally found in synchronous generators [3,4]. The application of BESS in modern power systems can be expanded to develop Peer-to-Peer (P2P) markets, as reviewed in [5]- [7]. Certain research suggests the implementation of virtual inertia without depending on BESS.…”
Section: Introductionmentioning
confidence: 99%