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Research on Bidding Mechanism for Power Grid with Electric Vehicles Based on Smart Contract Technology

Author

Listed:
  • Bing Wang

    (College of Energy and Electrical Engineering, Hohai University, Nanjing 211100, China)

  • Weiyang Liu

    (College of Energy and Electrical Engineering, Hohai University, Nanjing 211100, China)

  • Min Wang

    (College of Energy and Electrical Engineering, Hohai University, Nanjing 211100, China)

  • Wangping Shen

    (State Grid Zhejiang Electric Power Research Institute, Hangzhou 310014, China)

Abstract

To promote coordinated development of electric vehicles (EVs) and power grid under open power selling, a bidding mechanism using blockchain smart contract technology was proposed. By demand respone management (DRM) on and off the blockchain, based on different driving characteristics of EV subgroups, various charging–discharging demands and constraints were fully considered between EV user subgroups and agent. Purchase–sale transaction relationship and unit commitment plan were fully considered between the EV agent and power dispatching center under economic dispatching. Aiming at the lowest power purchase cost of EV users, the highest profit of EV agent and the lowest cost of power economic dispatching, smart contract models with optimal benefits were established among the three. The smart contract models were solved by combining the internal and external optimization relationship of particle swarm and genetic algorithms. The charging–discharging price was optimized by DRM to realize the reasonable allocation of charging–discharging resources of EVs. An example analysis shows that this bidding mechanism can achieve peak–cutting and valley–filling for power load. At the same time, it can effectively protect the benefits of EV users, agent, and power dispatching center. This result can provide a reference for the application of smart contract in bidding of EVs to the power grid.

Suggested Citation

  • Bing Wang & Weiyang Liu & Min Wang & Wangping Shen, 2020. "Research on Bidding Mechanism for Power Grid with Electric Vehicles Based on Smart Contract Technology," Energies, MDPI, vol. 13(2), pages 1-17, January.
    • Handle: RePEc:gam:jeners:v:13:y:2020:i:2:p:390-:d:308233
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    References listed on IDEAS

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    1. Abdelghani Bekrar & Abdessamad Ait El Cadi & Raca Todosijevic & Joseph Sarkis, 2021. "Digitalizing the Closing-of-the-Loop for Supply Chains: A Transportation and Blockchain Perspective," Sustainability, MDPI, vol. 13(5), pages 1-25, March.

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