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Trusted Transactions in Micro-Grid Based on Blockchain

Author

Listed:
  • Yunjun Yu

    (School of Information Engineering, Nanchang University, Nanchang 330031, China
    These authors contributed equally to this work.)

  • Yanghui Guo

    (School of Information Engineering, Nanchang University, Nanchang 330031, China
    These authors contributed equally to this work.)

  • Weidong Min

    (School of Software, Nanchang University, Nanchang 330047, China)

  • Fanpeng Zeng

    (Jiangsu Linyang Energy Co. Ltd., Qidong 226200, China)

Abstract

In order to build a local electricity market (LEM), community members can trade electricity peer-to-peer (P2P) with their neighbors. This paper proposes a Hierarchical Bidding and Transaction Structure based on blockchain (HBTS). First, combined with the multi-agents, each microgrid corrects the estimated cost probability distribution of other microgrids by Bayesian theorem, making its probability closer to the accurate probability. Second, for maximize the benefits of the microgrid, this paper uses the Nash equilibrium in the Cournot model to find the optimal quotation and output of different bidding strategies for the microgrid under different power demand conditions. Then the exchange of electricity translates into an exchange of digital proof of electricity purchases and sales of electricity on the Hyperledger Fabric, ensuring the security of the transaction process and the irreparable modification of ledgers. Finally, we verify the effectiveness of the bidding strategy through experiments, and analyze the transaction process.

Suggested Citation

  • Yunjun Yu & Yanghui Guo & Weidong Min & Fanpeng Zeng, 2019. "Trusted Transactions in Micro-Grid Based on Blockchain," Energies, MDPI, vol. 12(10), pages 1-16, May.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:10:p:1952-:d:233196
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    4. Rodrigues, Stefane Dias & Garcia, Vinicius Jacques, 2023. "Transactive energy in microgrid communities: A systematic review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 171(C).
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    6. Capper, Timothy & Gorbatcheva, Anna & Mustafa, Mustafa A. & Bahloul, Mohamed & Schwidtal, Jan Marc & Chitchyan, Ruzanna & Andoni, Merlinda & Robu, Valentin & Montakhabi, Mehdi & Scott, Ian J. & Franci, 2022. "Peer-to-peer, community self-consumption, and transactive energy: A systematic literature review of local energy market models," Renewable and Sustainable Energy Reviews, Elsevier, vol. 162(C).
    7. Bacem Mbarek & Nafaa Jabeur & Tomás Pitner & Ansar-Ul-Haque Yasar, 2020. "Empowering Communications in Vehicular Networks with an Intelligent Blockchain-Based Solution," Sustainability, MDPI, vol. 12(19), pages 1-13, September.
    8. Danalakshmi D. & Gopi R. & A. Hariharasudan & Iwona Otola & Yuriy Bilan, 2020. "Reactive Power Optimization and Price Management in Microgrid Enabled with Blockchain," Energies, MDPI, vol. 13(23), pages 1-20, November.
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