The Role of Blockchains in Multi-Stakeholder Transactive Energy Systems

Eisele, Scott; Laszka, Aron; Schmidt, Douglas C.; Dubey, Abhishek

doi:10.3389/fbloc.2020.593471

Title: The Role of Blockchains in Multi-Stakeholder Transactive Energy Systems

Journal Article · Mon Dec 21 00:00:00 EST 2020 · Frontiers in Blockchain

DOI:https://doi.org/10.3389/fbloc.2020.593471· OSTI ID:1768857

Eisele, Scott ^[1]; Laszka, Aron ^[2]; Schmidt, Douglas C. ^[1]; Dubey, Abhishek ^[1]

Vanderbilt Univ., Nashville, TN (United States)
Univ. of Houston, TX (United States)

Power grids are undergoing major changes due to rapid growth in renewable energy and improvements in battery technology. Prompted by the increasing complexity of power systems, decentralized solutions are emerging that arrange local communities into transactive microgrids. This paper addresses the problem of implementing transactive energy mechanisms in a distributed setting, providing both privacy and safety. Specifically, we design and implement an automated auction and matching system that ensures safety (e.g., satisfaction of line capacity constraints), preserves privacy, and promotes local trade and market efficiency for transactive energy systems. This design problem is challenging because safety, market efficiency, and privacy are competing objectives. We implement our solution as a decentralized trading platform built on blockchain technology and smart contracts. To demonstrate the viability of our platform, we analyze the results of experiments with dozens of embedded devices and energy production and consumption profiles using an actual dataset from the transactive energy domain.

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Research Organization:: Vanderbilt Univ., Nashville, TN (United States)

Sponsoring Organization:: USDOE Advanced Research Projects Agency - Energy (ARPA-E)

Grant/Contract Number:: AR0000666

OSTI ID:: 1768857

Report Number(s):: DOE-VANDERBILT-0000666-38

Journal Information:: Frontiers in Blockchain, Vol. 3; ISSN 2624-7852

Publisher:: Frontiers Media S.A.Copyright Statement

Country of Publication:: United States

Language:: English

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29 ENERGY PLANNING, POLICY, AND ECONOMY
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