EnerPort - Blockchain Energy Trading

There has been significant recent interest in local electricity trading platforms, and particularly in the application of distributed ledger and blockchain technology for distributed, or peer-to-peer energy trading in local energy communit- ies. Several projects worldwide have demonstrated this concept on a small scale in Low Voltage (LV) distribution networks and microgrids. However, previous work in this area has not sufficiently addressed the potential impacts of peer-to-peer energy trading and other local electricity trading mechanisms on the control, operation and planning of the electricity distribution networks. Accordingly, this paper presents a methodology for the co-simulation of power distribution networks and local peer-to-peer energy trading platforms. The distribution system simulator is inter- faced with a peer-to-peer energy trading platform, which employs a blockchain-based distributed double auction trade mechanism. The presented co-simulation approach is demonstrated using a case study of typical European suburban distribution network. It is demonstrated in the paper that this approach can be used to analyse the impacts of peer-to- peer energy trading on network operational performance. The analysis presented in the paper suggests that a moderate level of peer-to-peer trading does not have significant impacts on network operational performance.

In this paper we develop a trade model that integrates peer to peer energy trade and Electric Vehicle (EV) charging infrastructure. Energy distribution network may not allow energy transfer among microgrids. In the proposed trade model, each microgrid operates one local charging station and microgrids form coalitions to trade EV charging requests among themselves for the optimal utilization of renewable energy. Our main contribution is a multifaceted marketplace using blockchain where prosumers, microgrids and EVs participate in energy trade. Using blockchains, we present distributed scalable computation methods for trade decisions which are robust against malicious and faulty participants.

There has been significant recent interest in local electricity trading platforms, and particularly in the application of blockchain technology for distributed, or peer-to-peer energy trading in local energy communities. Several projects worldwide have demonstrated this concept on a small scale in Low Voltage (LV) distribution networks and microgrids. However, previous work in this area has not sufficiently addressed the potential impacts of peer-to-peer energy trading and other local electricity trading mechanisms on the control, operation and planning of the electricity distribution networks. Accordingly, this paper presents a methodology for the co-simulation of power distribution networks and local peer-to-peer energy trading platforms. The co-simulation approach uses the open-source distribution system simulator, OpenDSS for modelling the electricity distribution networks. The distribution system simulator is interfaced with a peer-to-peer energy trading simulator, which employs a blockchain-based distributed double auction trading mechanism. The presented co-simulation approach is demonstrated using a case study of typical European suburban distribution network.

In this paper we use the blockchain technology to develop a peer to peer energy trade platform without a trusted third party. Our main contribution is a novel distributed double auction mechanism which allows any peer to act as an auctioneer and the blockchain mechanism ensures that a peer behaves lawfully while acting as an auctioneer. Using experimental evaluation we show that (1) the distributed auction converges quickly, (2) it minimizes energy loss due to long transmission, (3) computational overhead due to employing a blockchain is negligible, (4) it is efficient and (5) it can implement trade restrictions imposed by the energy distribution network.

Unpredictable environmental conditions make renewable energy generators of a microgrid unreliable. Energy trade among microgrids may reduce dependency on utility grid (which uses traditional energy generator that causes massive greenhouse gas emission). Coalition formation algorithms are popular tools to execute energy trade among microgrids. In this paper we develop coalition formation method using the blockchain mechanism. Advantages of our solution over existing coalition formation algorithms for microgrid energy trade are as follows: Distributed execution: We show how to find coalition structure in a distributed fashion. It improves robustness of the computation compared with centralized executions of coalition formation algorithms. This is because failure of a centralized computing entity will lead to the failure of energy trade among all MGs but in a distributed solution such problem can be avoided. Asynchronous execution: In our solution, multiple coalition formation algorithms are executed asynchronously. Most of the existing solutions execute coalition formation algorithms at regular time intervals in synchronous fashion. Our solution reduces the waiting time for a microgrid to trade energy with other microgrids. Energy requirement of microgrids may depend on weather and changes in their energy requirement may be not synchronous, i.e., energy requirement of all microgrids may not change at the same time and after regular intervals. Scalable: We show that the distributed execution of coalition formation algorithm is more scalable than centralized algorithms for coalition formation. Convergence: We show that the proposed distributed algorithm converges quickly. Local energy trade: We show that the proposed distribution algorithm promotes local energy trade to reduce energy loss due to long transmission. It should be noted that feasibility of local energy trade depends on satisfaction of constraints in distribution network. Our solution aim to reduce the distance between matched energy supplier and energy provider if the distribution network allows such an energy transfer. Trust: The trust between a microgrid and the computation entity who is responsible for generating coalition structure is ignored in the existing solutions. We use a blockchain to eliminate such trust establishment requirement. Security and Privacy: The existing literature ignores the security of the computation framework. A MG’s energy surplus / deficit reveals its energy consumption patterns and it may cause security problems. We mitigate such security problems using the blockchain mechanism.