Blockchain-Based Decentralized Power Dispatching Model for Power Grids Integrated with Renewable Energy and Flexible Load

Abstract

To cope with the energy crisis and environmental pollution, the future development of the power system has to change towards a clean, low-carbon, flexible, and diversified direction. This paper proposes a decentralized power dispatching model based on blockchain technology to address the problems of uncertainty, privacy, security, and reliability in power dispatching systems containing renewable energy and flexible loads. Considering the uncertainty of wind, photovoltaic, and flexible load integration into the power grid, the total generation costs of the system are established, and the smart contracts of the decentralized power dispatching are proposed. The proof of work (PoW) consensus mechanism is improved in this paper. The hash operation that must be repeated in the PoW algorithm is replaced by an optimized computation process using a blockchain-based genetic algorithm (BD-GA). The proof of work-load-genetic algorithm-based (PoW-GAD) consensus algorithm is proposed. The decentralized power dispatching model and improved consensus algorithms’ effectiveness was confirmed by simulation. The power dispatching method in this paper reduces the system cost and increases wind and photovoltaic usage. The improved PoW-GAD algorithm, while inheriting the security features of the PoW algorithm, adapts to the blockchain-based decentralized dispatching structure and enhances system security.