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Integrated Energy Transaction Mechanisms Based on Blockchain Technology

Author

Listed:
  • Shengnan Zhao

    (School of Electrical Engineering, Southeast University, Nanjing 210096, China)

  • Beibei Wang

    (School of Electrical Engineering, Southeast University, Nanjing 210096, China)

  • Yachao Li

    (School of Electrical Engineering, Southeast University, Nanjing 210096, China)

  • Yang Li

    (School of Electrical Engineering, Southeast University, Nanjing 210096, China)

Abstract

With the rapid development of distributed renewable energy (DRE), demand response (DR) programs, and the proposal of the energy internet, the current centralized trading of the electricity market model is unable to meet the trading needs of distributed energy. As a decentralized and distributed accounting mode, blockchain technology fits the requirements of distributed energy to participate in the energy market. Corresponding to the transaction principle, a blockchain-based integrated energy transaction mechanism is proposed, which divides the trading process into two stages: the call auction stage and the continues auction stage. The transactions among the electricity and heat market participants were used as examples to explain the details of the trading process. Finally, the smart contracts of the transactions were designed and deployed on the Ethereum private blockchain site to demonstrate the validity of the proposed transaction scheme.

Suggested Citation

  • Shengnan Zhao & Beibei Wang & Yachao Li & Yang Li, 2018. "Integrated Energy Transaction Mechanisms Based on Blockchain Technology," Energies, MDPI, vol. 11(9), pages 1-19, September.
    • Handle: RePEc:gam:jeners:v:11:y:2018:i:9:p:2412-:d:169326
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Jun Liu & Jinchun Chen & Chao Wang & Zhang Chen & Xinglei Liu, 2020. "Market Trading Model of Urban Energy Internet Based on Tripartite Game Theory," Energies, MDPI, vol. 13(7), pages 1-24, April.
    2. Jagdish Prasad Nepal & Nuttaya Yuangyai & Saroj Gyawali & Chumpol Yuangyai, 2022. "Blockchain-Based Smart Renewable Energy: Review of Operational and Transactional Challenges," Energies, MDPI, vol. 15(13), pages 1-21, July.
    3. Wang, Longze & Liu, Jinxin & Yuan, Rongfang & Wu, Jing & Zhang, Delong & Zhang, Yan & Li, Meicheng, 2020. "Adaptive bidding strategy for real-time energy management in multi-energy market enhanced by blockchain," Applied Energy, Elsevier, vol. 279(C).
    4. Yongxiu He & Wei Xiong & Binyou Yang & Hai-yan Yang & Jiu-fang Zhou & Ming-li Cui & Yan Li, 2022. "Combined game model and investment decision making of power grid-distributed energy system," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(6), pages 8667-8690, June.
    5. Kirli, Desen & Couraud, Benoit & Robu, Valentin & Salgado-Bravo, Marcelo & Norbu, Sonam & Andoni, Merlinda & Antonopoulos, Ioannis & Negrete-Pincetic, Matias & Flynn, David & Kiprakis, Aristides, 2022. "Smart contracts in energy systems: A systematic review of fundamental approaches and implementations," Renewable and Sustainable Energy Reviews, Elsevier, vol. 158(C).
    6. 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.
    7. Wang, Lu & Gu, Wei & Wu, Zhi & Qiu, Haifeng & Pan, Guangsheng, 2020. "Non-cooperative game-based multilateral contract transactions in power-heating integrated systems," Applied Energy, Elsevier, vol. 268(C).
    8. Saha, Shammya & Ravi, Nikhil & Hreinsson, Kári & Baek, Jaejong & Scaglione, Anna & Johnson, Nathan G., 2021. "A secure distributed ledger for transactive energy: The Electron Volt Exchange (EVE) blockchain," Applied Energy, Elsevier, vol. 282(PA).

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