Design and implementation of a blockchain multi-energy system
Type
conference paper
Date Issued
2018-10-10
Author(s)
Abstract
The growing adoption of photovoltaic panels on roof-tops increases the pressure on grid operators for offsetting surplus or deficiency in generation. A multi-carrier energy system allows energy to be converted and stored using different energy carriers, thus relieving the stress from grid operators. However, these systems require efficient operation to unfold their full potential.
This paper proposes a novel blockchain-enabled process to coordinate, allocate, and settle intra-day energy transactions in a district multi-carrier energy system with electricity and heating sub-networks. An incentive mechanism is designed for an optimal allocation of local green energy generation. The mechanism is implemented for the Ethereum blockchain and operates fully on-chain. The design leaves energy producers the freedom to choose their preferred pricing strategy for profit maximization while restricting them to behavior favoring the common good. We test three pricing strategies, with different levels of knowledge on users’ pricing behaviors, that energy producers may adopt. The price-availability-based allocation system guarantees consumers the lowest possible cost.
This paper proposes a novel blockchain-enabled process to coordinate, allocate, and settle intra-day energy transactions in a district multi-carrier energy system with electricity and heating sub-networks. An incentive mechanism is designed for an optimal allocation of local green energy generation. The mechanism is implemented for the Ethereum blockchain and operates fully on-chain. The design leaves energy producers the freedom to choose their preferred pricing strategy for profit maximization while restricting them to behavior favoring the common good. We test three pricing strategies, with different levels of knowledge on users’ pricing behaviors, that energy producers may adopt. The price-availability-based allocation system guarantees consumers the lowest possible cost.
Language
English
HSG Classification
contribution to scientific community
Publisher
Energy Informatics
Publisher place
Oldenburg
Event Title
Energy Informatics 2018
Event Location
Oldenburg
Subject(s)
Eprints ID
255397
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Yu et al. - 2018 - Design and implementation of a blockchain multi-en.pdf
Size
1.15 MB
Format
Adobe PDF
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