Abstract
The rise of blockchain technology has injected new vitality into the energy market. At present, blockchain projects for distributed photovoltaic power generation and carbon trading are rapidly emerging, but due to the barrier of two markets and the independent operation of such projects in two chains, the two market values cannot be two-way circulation, which is not conducive to the expansion of power trading business and the scale of carbon market. This paper proposed a joint operation mechanism of cross-chain trading, combined distributed photovoltaic power generation market and the carbon market by the blockchain technology. The novelty is to construct two chains which includes the mainchain and sidechain that enables the two markets to share data and circulate value, and to design a two-way anchoring method that achieves equating between carbon trading and electricity trading by cryptocurrency. The simulation studies took the improved IEEE 33 system as an example to simulate transactions on the Ethereum platform, and technically verify the feasibility of cross-chain transactions in these two markets, and use Ether as the settlement currency.
Highlights
Distributed photovoltaic power generation uses clean solar energy resources to complete the production and consumption of electricity nearby, which has the advantages of high utilization rate and low level
We propose a joint operation mechanism of the carbon market and distributed photovoltaic power generation market based on blockchain technology
CASE STUDY In order to verify the effectiveness of the cross-chain transaction mechanism proposed in this article, tests were conducted on the Ethereum platform, and smart contract deployment tests were conducted through the Metamask and remix
Summary
Distributed photovoltaic power generation uses clean solar energy resources to complete the production and consumption of electricity nearby, which has the advantages of high utilization rate and low level. We propose a joint operation mechanism of the carbon market and distributed photovoltaic power generation market based on blockchain technology. Based on power trading and carbon trading running in their own blockchain, the capital circulation and data sharing of these two markets are realized through cross chain trading technology. B. ADAPTABILITY ANALYSIS OF SIDE CHAIN TECHNOLOGY IN CARBON AND ELECTRICITY JOINT TRADING Considering the design requirements of distributed photovoltaic and carbon trading as well as the characteristics of blockchain, such as no tampering, distributed and intelligent, the technical route of establishing carbon electricity trading and side-chain trading is as follows: In Figure 2, the multi-layer architecture of the blockchain can effectively solve the challenges of clearing and value circulation of PVP, and overcome the problems of carbon emission accounting consensus and carbon quota trading. By designing the corresponding anchoring method, the data sharing and asset transfer between the power market and the carbon market can be realized, which can expand the business scope of the power market and increase the generation dividend for the PVP
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