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Blockchain Solution for Buildings’ Multi-Energy Flexibility Trading Using Multi-Token Standards

Author

Listed:
  • Oana Marin

    (Computer Science Department, Technical University of Cluj-Napoca, Memorandumului 28, 400114 Cluj-Napoca, Romania)

  • Tudor Cioara

    (Computer Science Department, Technical University of Cluj-Napoca, Memorandumului 28, 400114 Cluj-Napoca, Romania)

  • Ionut Anghel

    (Computer Science Department, Technical University of Cluj-Napoca, Memorandumului 28, 400114 Cluj-Napoca, Romania)

Abstract

Buildings can become a significant contributor to an energy system’s resilience if they are operated in a coordinated manner to exploit their flexibility in multi-carrier energy networks. However, research and innovation activities are focused on single-carrier optimization (i.e., electricity), aiming to achieve Zero Energy Buildings, and miss the significant flexibility that buildings may offer through multi-energy coupling. In this paper, we propose to use blockchain technology and ERC-1155 tokens to digitize the heat and electrical energy flexibility of buildings, transforming them into active flexibility assets within integrated multi-energy grids, allowing them to trade both heat and electricity within community-level marketplaces. The solution increases the level of interoperability and integration of the buildings with community multi-energy grids and brings advantages from a transactive perspective. It permits digitizing multi-carrier energy using the same token and a single transaction to transfer both types of energy, processing transaction batches between the sender and receiver addresses, and holding both fungible and non-fungible tokens in smart contracts to support energy markets’ financial payments and energy transactions’ settlement. The results show the potential of our solution to support buildings in trading heat and electricity flexibility in the same market session, increasing their interoperability with energy markets while decreasing the transactional overhead and gas consumption.

Suggested Citation

  • Oana Marin & Tudor Cioara & Ionut Anghel, 2023. "Blockchain Solution for Buildings’ Multi-Energy Flexibility Trading Using Multi-Token Standards," Future Internet, MDPI, vol. 15(5), pages 1-17, May.
    • Handle: RePEc:gam:jftint:v:15:y:2023:i:5:p:177-:d:1143864
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    References listed on IDEAS

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