Toward sustainable microgrids with blockchain technology-based peer-to-peer energy trading mechanism: A fuzzy meta-heuristic approach

Tsao, Yu‐Chung; Thanh, Vo-Van

doi:10.1016/j.rser.2020.110452

Cited by 58 publications

(19 citation statements)

References 42 publications

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“…While local markets and P2P trading may lead to environmental benefits, DOMI-NOES local market concept does not explicitly consider, for example, carbon emissions and related policies as constraints affecting consumption and bidding decisions. For more information on these topics, see, e.g., [47][48][49][50].…”

Section: Market Integration For P2pmentioning

confidence: 99%

“…The following assumes that the central market model in place is the European target model with zonal pricing and redispatch for congestions within zones, in contrast to the centralized SCED (security constrained economic dispatch) and LMP (locational While local markets and P2P trading may lead to environmental benefits, DOMINOES local market concept does not explicitly consider, for example, carbon emissions and related policies as constraints affecting consumption and bidding decisions. For more information on these topics, see, e.g., [47][48][49][50].…”

Section: Bids and Pricingmentioning

confidence: 99%

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Framework to Facilitate Electricity and Flexibility Trading within, to, and from Local Markets

et al. 2021

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Peer-to-peer (P2P) electricity sharing or trading can empower consumers and prosumers, incentivize the balancing of generation and demand locally, increase system resilience and reliability, and help in achieving societal goals, such as increasing renewable energy penetration. Nevertheless, the development of P2P trading in actual environments has been slow due to the unclear position of P2P markets in the power system. Recent developments in the European legislation are promising for the establishment of P2P markets and energy communities. Hence, the interplay between local trading and existing market structures needs to be addressed carefully. Furthermore, P2P trading with distributed resources presumes that electricity end users will become active players in the power system. This paper proposes a bidding and pricing mechanism for local markets, considering the external markets; a new approach to balance settlement and balance responsibility when local trading occurs; and an interface to promote end-user interest in, and interactions with, local energy trading. The proposed local market concept and interface solution promote the coupling between local and existing retail, wholesale and ancillary service markets, and can be seen as a step towards the establishment of local energy markets in real-life settings.

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Section: Market Integration For P2pmentioning

confidence: 99%

Section: Bids and Pricingmentioning

confidence: 99%

Framework to Facilitate Electricity and Flexibility Trading within, to, and from Local Markets

et al. 2021

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“…In another study by the authors of [64], a sustainable network microgrid incorporated economic, environmental, and social constraints to search for maximum customer demand satisfaction. The fuzzy multi-objective programming models were proposed to handle the variability in distributed generation capacity and demand load.…”

Section: The Integration Of Blockchain With Artificial Intelligence (Ai)mentioning

confidence: 99%

Toward Blockchain Technology in the Energy Environment

et al. 2021

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Energy management and exchange have increasingly shifted from concentrated to hierarchical modes. Numerous issues have arisen in the decentralized energy sector, including the storage of customer data and the need to ensure data integrity, fairness, and accountability in the transaction phase. The problem is that in the field of the innovative technology of blockchain and its applications, with the energy sector still in the developmental stages, there is still a need for more research to understand the full capacity of the technology in the field. The main aim of this work was to investigate the state of the current research of blockchain technologies as well as their application within the field of energy. This work also set out to identify certain research gaps and provide a set of recommendations for future directions. Among these research gaps is the application of blockchain in decentralized storage, the integration of blockchain with artificial intelligence, and security and privacy concerns, which have not received much attention despite their importance. An analysis of fifty-seven carefully reviewed studies revealed that the emerging blockchain which provides privacy-protection technologies in cryptography and other areas that can be integrated to address users’ privacy concerns is another aspect that needs further investigation. Grid operations, economies, and customers will all learn from blockchain technology as it provides disintermediation, confidentiality, and tamper-proof transfers. Moreover, it provides innovative ways for customers and small solar generators to participate more actively in the electricity sector and to benefit from their properties. Blockchains are a rapidly evolving field of research and growth. A study of this emerging technology is necessary to increase comprehension, to educate the body of expertise on blockchains, and to realize its potential. This study recommends that future work investigates the potential application of blockchain in the energy sector as well as the challenges that face its implementation from the perspective of policy makers. This future approach will enable researchers to direct their focus to the case studies approach, which will facilitate and ease the application of blockchain technology.

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“…Consumers and producers participating in the microgrid, such as residents and electric vehicles [24], can benefit from energy transactions [25]. Blockchain technology provides a safer system for peer-to-peer energy trade and ensures the reliability and security of the trading system [26].…”

Section: Introductionmentioning

confidence: 99%

Real-Time Bidding Model of Cryptocurrency Energy Trading Platform

Gao

2021

Energies

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Blockchain technology provides a comprehensive solution to user access and energy trading for distributed energy Internet. Achieving market-based pricing, increasing the earnings of energy suppliers, attracting foreign capital and facilitating the upgrade of solar and wind energy are pressing issues. Drawing on the practices of centralised exchanges and blockchain cryptocurrency, the author designed the Cryptocurrency Energy Trading Platform (CETP), dividing the permissioned blockchain into the Energy Blockchain Platform (EBP) and the Energy Cryptocurrency Exchange (ECE). The frequently used real-time bidding scenario and the seldom-used power-using scenario are separated from each other. A market welfare model for real-time bidding is established and verified. With Energy Blockchain Cryptocurrency (EBC) as the trading medium, the platform allows external bidders to get involved in the bidding and transactions, which not only attracts the social capital to be used in the development of energy Internet but also helps stabilise the energy market prices, thus, advancing the energy Internet.

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Toward sustainable microgrids with blockchain technology-based peer-to-peer energy trading mechanism: A fuzzy meta-heuristic approach

Cited by 58 publications

References 42 publications

Framework to Facilitate Electricity and Flexibility Trading within, to, and from Local Markets

Framework to Facilitate Electricity and Flexibility Trading within, to, and from Local Markets

Toward Blockchain Technology in the Energy Environment

Real-Time Bidding Model of Cryptocurrency Energy Trading Platform

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