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Applications of Blockchain Technology in Modern Power Systems: A Brief Survey

Author

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  • Xiuli Wang

    (School of Electric Power, Civil Engineering and Architecture, Shanxi University, Taiyuan 030013, China)

  • Fang Yao

    (School of Electric Power, Civil Engineering and Architecture, Shanxi University, Taiyuan 030013, China)

  • Fushuan Wen

    (College of Electrical Engineering, Zhejiang University, Hangzhou 310027, China)

Abstract

In the context of modern power system development to support the evolution towards green energy and carbon-neutral emission goals, many existing problems and even challenges demand new technical solutions. In recent years, decentralized blockchain technology has been employed to address some problems in power systems, and many papers have been published. In this paper, the concept of blockchain is first introduced. A brief survey of the existing publications regarding the applications of blockchain in power systems, including power system dispatching, microgrid operation, energy trading, electricity trading settlement, transmission, and distribution system operation, is then carried out. In addition, several application scenarios of blockchain technology in power systems are also introduced. Through the discussion, we found that we still need to weigh the advantages and disadvantages, overcome its leakage, and bring its value into play if we apply blockchain technology in modern power systems in support of zero carbon goals.

Suggested Citation

  • Xiuli Wang & Fang Yao & Fushuan Wen, 2022. "Applications of Blockchain Technology in Modern Power Systems: A Brief Survey," Energies, MDPI, vol. 15(13), pages 1-22, June.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:13:p:4516-:d:844364
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    References listed on IDEAS

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    1. Zheng Che & Yu Wang & Juanjuan Zhao & Yan Qiang & Yue Ma & Jihua Liu, 2019. "A Distributed Energy Trading Authentication Mechanism Based on a Consortium Blockchain," Energies, MDPI, vol. 12(15), pages 1-21, July.
    2. Seongjoon Park & Hwangnam Kim, 2019. "DAG-Based Distributed Ledger for Low-Latency Smart Grid Network," Energies, MDPI, vol. 12(18), pages 1-22, September.
    3. Adamu Sani Yahaya & Nadeem Javaid & Fahad A. Alzahrani & Amjad Rehman & Ibrar Ullah & Affaf Shahid & Muhammad Shafiq, 2020. "Blockchain Based Sustainable Local Energy Trading Considering Home Energy Management and Demurrage Mechanism," Sustainability, MDPI, vol. 12(8), pages 1-28, April.
    4. Zixiao Xu & Dechang Yang & Weilin Li, 2019. "Microgrid Group Trading Model and Solving Algorithm Based on Blockchain," Energies, MDPI, vol. 12(7), pages 1-19, April.
    5. Foti, Magda & Vavalis, Manolis, 2019. "Blockchain based uniform price double auctions for energy markets," Applied Energy, Elsevier, vol. 254(C).
    6. Gangjun Gong & Zhening Zhang & Xinyu Zhang & Nawaraj Kumar Mahato & Lin Liu & Chang Su & Haixia Yang, 2020. "Electric Power System Operation Mechanism with Energy Routers Based on QoS Index under Blockchain Architecture," Energies, MDPI, vol. 13(2), pages 1-22, January.
    7. Wenting Zhao & Jun Lv & Xilong Yao & Juanjuan Zhao & Zhixin Jin & Yan Qiang & Zheng Che & Chunwu Wei, 2019. "Consortium Blockchain-Based Microgrid Market Transaction Research," Energies, MDPI, vol. 12(20), pages 1-22, October.
    8. Jiang, Yanni & Zhou, Kaile & Lu, Xinhui & Yang, Shanlin, 2020. "Electricity trading pricing among prosumers with game theory-based model in energy blockchain environment," Applied Energy, Elsevier, vol. 271(C).
    9. Zhang, Chenghua & Wu, Jianzhong & Zhou, Yue & Cheng, Meng & Long, Chao, 2018. "Peer-to-Peer energy trading in a Microgrid," Applied Energy, Elsevier, vol. 220(C), pages 1-12.
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    Cited by:

    1. Sergey Zhironkin & Magerram Gasanov & Yulia Suslova, 2022. "Orderliness in Mining 4.0," Energies, MDPI, vol. 15(21), pages 1-8, November.
    2. Arsenii Vilkov & Gang Tian, 2023. "Blockchain’s Scope and Purpose in Carbon Markets: A Systematic Literature Review," Sustainability, MDPI, vol. 15(11), pages 1-27, May.
    3. Faten Chaabane & Jalel Ktari & Tarek Frikha & Habib Hamam, 2022. "Low Power Blockchained E-Vote Platform for University Environment," Future Internet, MDPI, vol. 14(9), pages 1-17, September.
    4. Sergey Zhironkin & Elena Dotsenko, 2023. "Review of Transition from Mining 4.0 to 5.0 in Fossil Energy Sources Production," Energies, MDPI, vol. 16(15), pages 1-35, August.
    5. Olga Zhironkina & Sergey Zhironkin, 2023. "Technological and Intellectual Transition to Mining 4.0: A Review," Energies, MDPI, vol. 16(3), pages 1-37, February.
    6. Sławomir Bielecki & Tadeusz Skoczkowski & Lidia Sobczak & Marcin Wołowicz, 2022. "Electricity Usage Settlement System Based on a Cryptocurrency Instrument," Energies, MDPI, vol. 15(19), pages 1-35, September.
    7. Tanus Bikram Malla & Abhinav Bhattarai & Amrit Parajuli & Ashish Shrestha & Bhupendra Bimal Chhetri & Kamal Chapagain, 2022. "Status, Challenges and Future Directions of Blockchain Technology in Power System: A State of Art Review," Energies, MDPI, vol. 15(22), pages 1-26, November.

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