A transactive energy model for smart metering systems using blockchain

The lowering cost of electricity generation technologies by renewable means has caused the role of end-users to change from being a simple consumer to a producer of their energy. This new role has been called a prosumer and has contributed to modifying electricity markets, by allowing prosumers to m...

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Bibliographic Details
Published in:CSEE Journal of Power and Energy Systems 2021-09, Vol.7 (5), p.943-953
Main Authors: Juan C. Olivares-Rojas, Enrique Reyes-Archundia, José A. Gutiérrez-Gnecchi, Ismael Molina-Moreno, Jaime Cerda-Jacobo, Arturo Méndez-Patiño
Format: Article
Language:English
Subjects:
Blockchain
Commercialization
Cryptography
Data integrity
Efficiency
Electric power
Electric power grids
Electric rates
Electricity
Electricity distribution
Electricity meters
Energy
Energy industry
Fault diagnosis
Infrastructure
Internet of Things
New technology
Public utilities
Subsidies
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Description
Summary:The lowering cost of electricity generation technologies by renewable means has caused the role of end-users to change from being a simple consumer to a producer of their energy. This new role has been called a prosumer and has contributed to modifying electricity markets, by allowing prosumers to merchandize the energy surplus to electricity companies and other prosumers. The fundamental key to any economic transaction is trust between the parties. Recently, new technologies, such as blockchain, are transforming transaction security, and allowing decentralization of the smart power grid. This study presents the development of a transactional model of electrical energy using the infrastructure of smart metering and blockchain systems to allow the commercialization of electrical energy by prosumers. The results show that for the Mexican electricity market, they can be good alternatives by reducing subsidies and being more profitable than current rates.
ISSN:2096-0042
2096-0042
DOI:10.17775/CSEEJPES.2020.05670