Trusted Transactions in Micro-Grid Based on Blockchain

In order to build a local electricity market (LEM), community members can trade electricity peer-to-peer (P2P) with their neighbors. This paper proposes a Hierarchical Bidding and Transaction Structure based on blockchain (HBTS). First, combined with the multi-agents, each microgrid corrects the est...

Full description

Saved in:
Bibliographic Details
Published in:Energies (Basel) 2019-05, Vol.12 (10), p.1952
Main Authors: Yu, Yunjun, Guo, Yanghui, Min, Weidong, Zeng, Fanpeng
Format: Article
Language:English
Subjects:
Alternative energy sources
Bayesian analysis
bidding
Blockchain
Conditional probability
Consumers
Distributed generation
Electric power grids
Electricity
Electricity consumption
Energy industry
Energy resources
hierarchical
Historical account
International conferences
Internet
microgrid
multi-agent
Peer to peer computing
Privacy
Probability distribution
Product differentiation
Security
Strategy
Structural hierarchy
Technology
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:In order to build a local electricity market (LEM), community members can trade electricity peer-to-peer (P2P) with their neighbors. This paper proposes a Hierarchical Bidding and Transaction Structure based on blockchain (HBTS). First, combined with the multi-agents, each microgrid corrects the estimated cost probability distribution of other microgrids by Bayesian theorem, making its probability closer to the accurate probability. Second, for maximize the benefits of the microgrid, this paper uses the Nash equilibrium in the Cournot model to find the optimal quotation and output of different bidding strategies for the microgrid under different power demand conditions. Then the exchange of electricity translates into an exchange of digital proof of electricity purchases and sales of electricity on the Hyperledger Fabric, ensuring the security of the transaction process and the irreparable modification of ledgers. Finally, we verify the effectiveness of the bidding strategy through experiments, and analyze the transaction process.
ISSN:1996-1073
1996-1073
DOI:10.3390/en12101952