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Blockchain-based smart trading mechanism for renewable energy power consumption vouchers and green certificates: Platform design and simulation

Author

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  • Guo, Shi-man
  • Feng, Tian-tian

Abstract

As the renewable energy consumption responsibility weight system is gradually implemented in various provinces, there is a closer intersection between the excess consumption and green certificates trading. Existing trading platforms can only meet the needs of green certificates trading. This single-platform solution is no longer sufficient to meet the trading requirements under this system. Consequently, this paper proposes a excess consumption and green certificates trading platform based on blockchain technology. This platform utilizes the decentralized, open, and anonymous characteristics of blockchain technology and rely on its smart contract capabilities to simultaneously meet the comprehensive trading needs of surplus consumption and green certificates trading through combining user-initiated transactions with platform-intelligent recommendations. It adapts to the complex excess consumption and green certificates trading market that has emerged following the issuance of the renewable energy consumption responsibility weighting policy. To conduct simulated transactions, 16 groups of buyers simulate a total of 215,792 excess consumption vouchers and 143,861 green certificates in this paper. The transaction results all meet the expected transaction scenarios under the conditions of smart recommendation, demonstrating the platform's transaction feasibility.

Suggested Citation

  • Guo, Shi-man & Feng, Tian-tian, 2024. "Blockchain-based smart trading mechanism for renewable energy power consumption vouchers and green certificates: Platform design and simulation," Applied Energy, Elsevier, vol. 369(C).
    • Handle: RePEc:eee:appene:v:369:y:2024:i:c:s0306261924007347
    DOI: 10.1016/j.apenergy.2024.123351
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