Blockchain-based decentralized energy intra-trading with battery storage flexibility in a community microgrid system

Abstract

The growing integration of distributed generations and battery storage equipped with smart meters paves a way to smartly manage the Distributed Energy Resources (DER) using a digital platform to improve the overall performance of the microgrid system. The deployment of distributed energy resources, particularly solar photovoltaic and wind generation, has transformed conventional power consumers into active prosumers. As a result of the expansion and digitalization of power distribution infrastructures, peer-to-peer (P2P) energy intra-trading has evolved as a new paradigm in electricity trade in the community microgrid system. Blockchain is being used to encourage P2P energy intra-trading amongst prosumers, consumers, and Renewable Energy Sources (RES) owners because of its transparency, security, and speed in completing transactions. This P2P concept is further extended in this work to establish a self-sustained community microgrid system in energy trading with a case study to showcase the merits of blockchain technology in providing a secure and effective trading platform for mass users. As a result, the proposed work presents a solution for a secured energy management system that uses blockchain technology to create a decentralized microgrid energy market model that depicts P2P energy transactions with the incorporation of a battery storage system. Again, the microgrid P2P market settles the clearing price considering the probable response of customers when the price varies and incentive is paid to customers and prosumers to change the pattern of using of loads. According to the findings, end-users benefit from energy savings and self-sufficiency due to the combination of automated P2P trade and storage flexibility. Furthermore, a sort of crypto-currency “Cosmos (Atom)” is simulated in the P2P market model and published via the blockchain's mining mechanism. The proposed design framework presented in this paper has addressed the implementation of an effective energy management platform for developing a self-sustained microgrid system using distributed energy resources.