A renewable energy microgrids trading management platform based on permissioned blockchain

Abstract

This paper presents an energy trading platform based on the permissioned blockchain for managing renewable energy microgrids. To accomplish low-cost and efficient renewable energy trading, a series of automated trading processes is designed for the trading platform, including the token trading mechanism and account management mechanism. Meanwhile, we actualise set of trading processes in the trading platform using smart contract and use the Internet of Things technology to facilitate the automatic execution of trading. Besides, we devised a homomorphic encryption scheme that provides an exceptional level of privacy protection without compromising trading efficiency to better safeguard users' privacy in the trading platform. Therefore, utilising the trading management platform for renewable energy we developed can increase user participation in trading. Finally, the proposed trading management platform has been constructed and deployed utilising the permissioned blockchain Hyperledger Fabric, and the effect of the homomorphic encryption scheme and the trading process has been tested. The simulation results demonstrate the practicability of the designed renewable energy trading management platform.