A peer-to-peer trading model to enhance resilience: A blockchain-based smart grids with machine learning analysis towards sustainable development goals

Abstract

Blockchain technology, with its peer-to-peer trading feature, influences the management of energy consumption by offering the potential to transform transparency, efficiency, and sustainability within the energy sector. Nonetheless, there is a need to develop analytical decision-making models tailored for managing peer-to-peer energy transactions to improve energy resilience. Therefore, the purpose of this paper is to address the research question: How can energy distribution systems be protected via blockchain technology to enhance energy resilience and mitigate vulnerabilities to disruptions? This paper employs a conceptual research model design and a mathematical decision-making model to address the research question by capturing the peer-to-peer trading capability of blockchain technology. The theory of planned behavior provides theoretical explanations for the proposed model. The sample includes longitudinal energy consumption data from 2015 to 2023 in Texas. The findings indicate a significant improvement in energy efficiency along with a considerable decrease in total electricity consumption. Post hoc analysis results reveal that the seasonal autoregressive integrated moving average algorithm is effective as a reliable input for the proposed mathematical model. The significant implications are to implement blockchain-based smart grids in which energy systems become more resilient to disruptions, as the peer-to-peer capability enables users to trade energy. The proposed model suggests that energy will be used more efficiently and effectively. This paper contributes to prior works by introducing a mathematical model that captures the trading behavior of energy consumers. Moreover, this paper proposes the SARIMA algorithm to predict energy demand.