Credit-Based Peer-to-Peer Electricity Trading in Energy Blockchain Environment

Abstract

Peer-to-peer (P2P) electricity trading promotes the local consumption of renewable energy. However, it suffers from high transaction costs and mutual distrust among users. To address these issues, we propose a credit-based P2P electricity trading model in a blockchain environment. First, the P2P electricity trading process is introduced, which involves six stages: order generation, default query, order picking, trading execution, trading verification, and payment. Credit management is also introduced in this model to manage the default behavior of users. In particular, the default users are provided a waiting time in the default query stage or penalized in the payment stage. Finally, the model is simulated on the Hyperledger Fabric platform using Docker and Go. Experimental results show that the proposed model can facilitate cost reduction for users in the blockchain and realize credit management in P2P electricity trading, thereby enhancing trading stability and efficiency.