Performance analysis of blockchain-based smart grid with Ethereum and Hyperledger implementations

Abstract. Smart grids lay the foundation for future communities. Smart homes, smart buildings, smart streets, and smart offices are built when intelligent devices piles on intelligent devices. To reach the maximum capacity, they all must be supported by an intelligent power supply. For optimal and real-time electricity consumption, monitoring and trading, blockchain possess number of potential benefits in its application to electricity infrastructure. A comprehensive system architecture of blockchain-based smart grid is proposed and peer-to-peer (P2P) energy trading is implemented between Distribution System Operators (DSO), Local energy providers and Consumers. This thesis presents a virtual smart grid equipped with smart contracts capable of virtual activities like market payment function and the comparison and the performance of the blockchain-based smart grid by using Ethereum and Hyperledger Fabric-based implementations. The challenges faced during the implementation of blockchain protocols are discussed and evaluation in the light of finding sustainable solutions to develop secure and reliable smart grid operations, is the major objective of the thesis

Blockchain-Based Energy Trading in ElectricVehicle Enabled Microgrids

This article presents a blockchain-basedscheme for energy trading between electric vehicles(prosumers) and critical load (consumer) in a mi-crogrid. Unlike traditional wholesale energy mar-kets where retailers sell energy to consumers, ourproposed model directly connects prosumers withconsumers to exchange energy. We exploit blockchaintechnology to establish a trusted energy tradingecosystem. The article provides an overview of theblockchain enabled architecture that facilitates peer-to-peer energy trade in a logical network, using thebuilding blocks provided by 5G network. An energytrading prototype is developed to remotely monitorenergy trading activities between prosumers and con-sumer, using graphical user interface. Experimentalresults based on a real map of Paisley illustrate thatthe energy trading system is effective in finding,associating and routing prosumers to consumers,while protecting privacy of entities. Numerical resultsshow a favorable performance of our optimizationmodel in comparison to traditional frameworks

Blockchain electricity trading using tokenised power delivery contracts. ESRI Working Paper No. 649 December 2019

This paper proposes a new mechanism for forward selling renewable electricity generation. In this transactive framework, a wind or solar farm may directly sell to consumers a claim on their future power output in the form of nonfungible blockchain tokens. Using the flexibility of smart contract code, which executes irrevocably on a blockchain, the realised generation levels will offset the token holders’ electricity consumption in near real-time. To elucidate the flexibility offered by such smart contracts, two ways of structuring these power delivery instruments are considered: firstly, an exotic tranched system, where more senior tokens holders enjoy priority claims on power, as compared against a simpler pro-rata scheme, where the realised output of a generator is equally apportioned between token holders. A notional market simulation is provided to explore whether, for instance, consumers could exploit the flatter power delivery profiles of more senior tranches to better schedule their responsive demands

Peer-to-Peer EnergyTrade: A Distributed Private Energy Trading Platform

Blockchain is increasingly being used as a distributed, anonymous, trustless framework for energy trading in smart grids. However, most of the existing solutions suffer from reliance on Trusted Third Parties (TTP), lack of privacy, and traffic and processing overheads. In our previous work, we have proposed a Secure Private Blockchain-based framework (SPB) for energy trading to address the aforementioned challenges. In this paper, we present a proof-on-concept implementation of SPB on the Ethereum private network to demonstrates SPB's applicability for energy trading. We benchmark SPB's performance against the relevant state-of-the-art. The implementation results demonstrate that SPB incurs lower overheads and monetary cost for end users to trade energy compared to existing solutions

Lightweight Blockchain Framework for Location-aware Peer-to-Peer Energy Trading

Peer-to-Peer (P2P) energy trading can facilitate integration of a large number of small-scale producers and consumers into energy markets. Decentralized management of these new market participants is challenging in terms of market settlement, participant reputation and consideration of grid constraints. This paper proposes a blockchain-enabled framework for P2P energy trading among producer and consumer agents in a smart grid. A fully decentralized market settlement mechanism is designed, which does not rely on a centralized entity to settle the market and encourages producers and consumers to negotiate on energy trading with their nearby agents truthfully. To this end, the electrical distance of agents is considered in the pricing mechanism to encourage agents to trade with their neighboring agents. In addition, a reputation factor is considered for each agent, reflecting its past performance in delivering the committed energy. Before starting the negotiation, agents select their trading partners based on their preferences over the reputation and proximity of the trading partners. An Anonymous Proof of Location (A-PoL) algorithm is proposed that allows agents to prove their location without revealing their real identity. The practicality of the proposed framework is illustrated through several case studies, and its security and privacy are analyzed in detail