Blockchain-Based Trustworthy Energy Dispatching Approach for High Renewable Energy Penetrated Power Systems

Abstract

Renewable energy sources (RES) and low-carbon technology users play a vital role in modern power systems. However, RES generation is easily affected by the environment. Meanwhile, the load, such as electric vehicles (EVs) and prosumers, accounts for most low-carbon technology users. Their power is usually superimposed on peak loads without dispatching, which also exacerbates the instability of the power system. Current optimal dispatching mechanisms mainly rely on centralized organizations, while their dispatching process is not open and transparent. In this article, we propose a blockchain-based trustworthy dispatching approach for the distribution network in high renewable energy penetrated power systems. We first develop an optimal dispatching model considering EVs’ charging behavior and the prosumers’ economic benefits. With the model, prosumers can be dispatched to balance power and consume renewable energy, reducing the impact of disorderly charging on the grid and the abandonment of RES generation. An orderly charging iteration optimization (OCIO) algorithm is proposed to implement orderly EV charging while considering the charging cost and the period. We also propose a modified particle swarm optimization (mPSO) algorithm to publish dispatching tasks based on real-time power balance. Furthermore, blockchain is applied as an open and transparent ledger to record each entity’s power generation and consumption information, ensuring that the dispatching process is trustworthy. Finally, the effectiveness of the dispatching approach is verified in the modified IEEE 33-bus test system and Ethereum-based smart contracts.