Electric Vehicle Power Trading Mechanism Based on Blockchain and Smart Contract in V2G Network

Haiqing Liu,Shiqiang Zheng,Yuancheng Li,Yan Zhang

doi:10.1109/access.2019.2951057

Haiqing Liu, Shiqiang Zheng + Show 2 more

Open Access

https://doi.org/10.1109/access.2019.2951057

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Abstract

In order to realize peer-to-peer (P2P) transactions between electric vehicles (EVs) in vehicle-to-grid (V2G) networks, we propose an EV power trading model based on blockchain and smart contract. Firstly, based on the blockchain and smart contract technology, a decentralized power trading model is proposed to realize the information equivalence and transparent openness of power trading. Then, considering the randomness and uncertainty of EV charging and discharging, the EV trading parties use the reverse auction mechanism based on dynamic pricing strategy to complete the transaction matching, which can not only improve the profit of the less competitive power seller, but also it can reduce the cost of the electricity purchaser. Finally, in order to verify the feasibility of our proposed scheme, V2G's EV power trading smart contract was designed, and the smart contract was released to Ethereum and simulated experiments were carried out. The effectiveness of the proposed scheme is verified by simulation experiments and comparison with traditional power trading schemes.

Highlights

With the advancement of various technologies in electric vehicles(EVs), the number of EVs and charging stations continues to climb, and a large number of independently decided EV users participate in electrical trading
Because Ethereum has the characteristics of decentralization and Turing, it provides a good support for building V2G trading platform among EVs
Compared with the traditional power trading scheme, the proposed scheme is based on blockchain technology, so it does not rely on the transaction third party

Summary

INTRODUCTION

With the advancement of various technologies in electric vehicles(EVs), the number of EVs and charging stations continues to climb, and a large number of independently decided EV users participate in electrical trading. Because Ethereum has the characteristics of decentralization and Turing, it provides a good support for building V2G trading platform among EVs. We have designed a smart contract for EV power trading based on reverse auction. In order to make electricity trading more efficient, charging EVs first send their own power demand information to the aggregator. The detailed steps of the reverse auction algorithm based on dynamic pricing are as follows: 1) The charging EVs submit the power demand information to the aggregator, which includes the time period of purchase and the purchase of electricity. 4) The aggregator calculates the different allocation schemes and the cost of each scheme according to the power information provided by all the participating discharging EVs. The information includes: the sales period of electric energy, the electric energy reserve, the starting sales price of electric energy and the lowest selling price of electric energy.

25: Make records on blockchain according to returns

CONCLUSION