1 research outputs found
Exchange of Renewable Energy among Prosumers using Blockchain with Dynamic Pricing
We consider users which may have renewable energy harvesting devices, or
distributed generators. Such users can behave as consumer or producer (hence,
we denote them as prosumers) at different time instances. A prosumer may sell
the energy to other prosumers in exchange of money. We consider a demand
response model, where the price of conventional energy depends on the total
demand of all the prosumers at a certain time. A prosumer depending on its own
utility has to select the amount of energy it wants to buy either from the grid
or from other prosumers, or the amount of excess energy it wants to sell to
other prosumers. However, the strategy, and the payoff of a prosumer inherently
depends on the strategy of other prosumers as a prosumer can only buy if the
other prosumers are willing to sell. We formulate the problem as a coupled
constrained game, and seek to obtain the generalized Nash equilibrium. We show
that the game is a concave potential game and show that there exists a unique
generalized Nash equilibrium. We consider that a platform will set the price
for distributed interchange of energy among the prosumers in order to minimize
the consumption of the conventional energy. We propose a distributed algorithm
where the platform sets a price to each prosumer, and then each prosumer at a
certain time only optimizes its own payoff. The prosumer then updates the price
depending on the supply and demand for each prosumer. We show that the
algorithm converges to an optimal generalized Nash equilibrium. The distributed
algorithm also provides an optimal price for the exchange market.Comment: 9 pages, 4 figure