Transactive grid ethereum phase
Babiker, A. Box , Bisha , Saudi Arabia. The smart grid idea was implemented as a modern interpretation of the traditional power grid to find out the most efficient way to combine renewable energy and storage technologies. Throughout this way, big data and the Internet always provide a revolutionary solution for ensuring that electrical energy linked intelligent grid, also known as the energy Internet. The blockchain has some significant features, making it an applicable technology for smart grid standards to solve the security issues and trust challenges.
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- From Bitcoins to BTUs: How Blockchains Are Opening the Industry to New, Non-Utility Players
- Accelerating Energy Transition with Blockchain Technology
- Power to the people - the blockchain's consumer energy revolution begins in New York
- Transactive Flexibility
- Blockchain Energizer – Volume 26
- Blockchain Uses and Applications in the Energy Sector
- Blockchain Techologies For the Energy Access Sector
- New York's 'Energy Czar' Talks Future of Blockchain for Energy Grids
From Bitcoins to BTUs: How Blockchains Are Opening the Industry to New, Non-Utility Players
Power grids are undergoing major changes due to rapid growth in renewable energy and improvements in battery technology. Prompted by the increasing complexity of power systems, decentralized solutions are emerging that arrange local communities into transactive microgrids.
This paper addresses the problem of implementing transactive energy mechanisms in a distributed setting, providing both privacy and safety. Specifically, we design and implement an automated auction and matching system that ensures safety e.
This design problem is challenging because safety, market efficiency, and privacy are competing objectives. We implement our solution as a decentralized trading platform built on blockchain technology and smart contracts. To demonstrate the viability of our platform, we analyze the results of experiments with dozens of embedded devices and energy production and consumption profiles using an actual dataset from the transactive energy domain.
An RTO typically runs two energy markets: a day-ahead market , which occurs 24 h prior to energy dispatch, and a real-time market , which is run once each hour based on predicted energy demand. Any adjustments necessary to meet changing energy demands are handled by ancillary services, such as Reserves , which can be integrated with the grid in under an hour, and Regulation , which maintains system frequency by adjusting output.
In this market, power plants and utility operators place offers that are matched to determine pricing. Due to the advent of individually-owned distributed energy resources DER , such as solar panels Randall, and energy storage devices, balancing supply and demand becomes more challenging for a centralized controller. These challenges stem from the fact that supply e.
Barbieri et al. These conditions are further complicated since they are controlled by many different users, making them hard to manage Abrishambaf et al. Maintaining the balance between supply and demand is vital because imbalances shift the frequency of alternating current AC power, which in turn alters the behavior of devices connected to the power line.
If these errors are not appropriately addressed, they can lead to physical system damage. These challenges with DER have led to a recent surge of interest in peer-to-peer transactive energy systems TES , as shown in Figure 1. Figure 1. DER enables transition from top-down energy distribution to peer-to-peer energy transfers. If the trades in the system are not balanced—or if they exceed the safety constraints of the system—they can cause physical damage.
Safe trades can be incentivized by recording trades and fining prosumers for deviating from them. Providing this degree of oversight, however, requires knowledge about which prosumer has made a given offer. In turn, this type of information could violate privacy concerns if it is not carefully managed. An example TES is shown in Figure 2 , where each node is associated with a participant in the local peer-to-peer energy trading market.
This figure shows how a feeder consists of a number of nodes, some of which have the capability to sell energy. Each feeder is protected by an overcurrent relay at the junction of the common bus.
The inset figure shows that a node in the network has different types of loads, some of which can be scheduled, making it possible for a consumer to bid in advance for those loads. A smart meter ensures proper billing per node.
Using TES effectively in practice requires addressing the following problems which we cover in this paper :. Ensuring the physical stability and safety of the grid apparatus, e.
Ensuring that a peer-to-peer market operates in a trustworthy manner, even if some of the nodes are malicious. Ensuring privacy since TES disseminate information amongst participants to enable finding suitable trade partners 1. Our recent work Laszka et al. These objectives were accomplished via a public distributed ledger for 1 and anonymized identifiers with a mixing service that prevents tracing the assets being traded back to the owner for 2.
Our market mechanism was opportunistic, however, since each consumer looked at the available asks from producers and chose the one that fit the needs of the consumer the best, which was tedious and error-prone. To address limitations with our prior work, this paper describes the structure, functionality, and performance of an automated matching system that maximizes the amount of energy traded within the local market.
Moreover, we now consider system-wide safety constraints, whereas our prior work only considered constraints on individual prosumers. As in our prior work Laszka et al. We chose Ethereum because it meets our requirements better than the alternatives. In particular proof-of-work consensus is better understood and has more formal analysis Garay et al. There are alternatives such as Hyperledger Sawtooth Olson et al.
Another alternative is Hyperledger Fabric Hyperledger, whose consensus is deterministic and relies on a known number of participants in the blockchain network and does not handle partitions well. We want a transactive energy market to continue operating despite partitions.
To fully attain this goal we would require a special version of the consensus protocol that allowed two chains of transactions to be merged after the partition healed since trades must have happened on both sides. This is something to be explored in the future. Additionally, we required a blockchain platform that is popular and well-documented. This approach is consistent with the recent trends in the research community and power industry focused on transactive energy markets Orsini et al.
Disintermediation of trust is widely regarded as the primary feature of blockchain-based transaction systems Peck, Applying them in TES is appealing since they elegantly integrate the ability to immutably record the ownership and transfer of assets, with essential distributed computing services, such as Byzantine fault-tolerant consensus on the ledger state, as well as event chronology.
The ability to establish consensus on state and ordering of events is important in the context of TES to detect trades that could destabilize the system.
This paper makes the following contributions to research on transactive energy systems TES :. This design problem is hard due to inherent conflicts between safety, privacy, and market efficiency. Our solution combines the security and immutability of blockchain-based smart contracts with the efficiency of traditional computational platforms via a hybrid solver that is used to match energy trades. We consider total energy trade throughput as the market performance metric.
Paper Organization The remain of this paper is organized as follows: section 2 describes our transactive microgrid model and reviews system requirements; section 4 formalizes the energy trading problem used as a case study throughout this paper; section 5 examines our hybrid approach to solve the energy trading problem efficiently despite our use of a decentralized computing platform; section 6 explores the structure and functionality of a TMP we developed to provide the energy trading and market clearing functionality described in earlier sections.
Section 7 analyzes the results of experiments we conducted to evaluate the performance of our system; and section 8 presents concluding remarks and lessons learned from our work. We consider a microgrid with a set of feeders arranged in a radial topology. Although the methods presented in this paper are extensible to general tree topologies involving branching, we apply a radial topology to simplify checking the load flow constraints.
A feeder has a fixed set of nodes, each representing a residential load or a combination of load and distributed energy resources DERs , such as rooftop solar and batteries, as shown in Figure 2.
Each node is associated with a participant in the local peer-to-peer energy trading market. Figure 2 shows that a distribution system operator DSO also participates in the market. It may use this market to incentivize timed energy production within the microgrid to stabilize the grid and promote ancillary services Dag and Mirafzal, , such as those outlined in section 1.
Moreover, the DSO supplies residual demand not met through the local market. Participants in our system model settle trades in advance, which allows them to schedule their power transfers into the local distribution system.
There are typically three phases in these operations: 1 discovery of compatible offers, 2 matching of buying offers to selling offers either by each prosumer individually or by an automated matching algorithm , and 3 performing the energy transaction and financial transaction. Below we describe the requirements we addressed when building a decentralized Transaction Management Platform TMP that supports the workflow across the microgrid described above. The first requirement is the existence of an appropriate communication and messaging architecture.
The TMP must collect participants' offers and make them available to buyers and sellers. Moreover, the market algorithm must communicate clearing prices and buyer-seller matchings.
To meet the operational and safety requirements described below, these messages must be delivered reliably under strict timing constraints derived from the deadline by which a trade must clear. Moreover, the TMP must be capable of handling high volumes of micro-transactions anticipated in peer-to-peer trading scenarios.
Finally, the communication fabric must support confidentiality, integrity, and non-repudiation of transactional data. Trading activity should not compromise the stability of the physical system operation. For instance, capacity constraints along any feeder should be respected, e.
Local energy trade settlements should therefore ensure the instantaneous power flows stemming from power production and consumption never violate safety constraints. Prosumer interests include being billed correctly based on energy prices set by the market and the measurements made by smart meters. In the context of microgrids connected to the broader power grid, the system should match supply and demand as closely as possible, while respecting safety constraints.
In particular, the TMP should aim to maximize the amount of energy traded. Information like the amount of energy produced, consumed, bought, or sold by any prosumer should be available only to the DSO 3. The owners of the bids and asks should remain anonymous to other participants.
It should not be possible to infer a participant's energy usage patterns and personal information, such as financial standing, from their trading activity. In particular, inference of energy usage patterns can be exploited by inferring the presence or absence of a person in their home.
This section presents an overview of the state-of-the-art and compares our approach with related work on transactive energy systems TES. This project was initially evaluated in terms of its ability to meet requirements deemed necessary for an efficient microgrid energy market. This setup also defines the system objectives and the form of energy to trade, as well as the physical transfer mechanism, whether it be via the bulk power grid or an internal microgrid.
This component serves the same purpose as the specification of the transfer mechanism in the first requirement above. These rules ensure that the trades do not violate grid power constraints.
In this context, a smart contract is a custom program that operates on the data stored on a distributed ledger. It can be used to establish agreements between participants by ensuring some computation occurs when conditions specified in the program are true. The final two required components defined by the Brooklyn Microgrid project are an automated trader for the participants and the regulations in which the TES is deployed.
Despite the authors' thorough description of these market components, they did not assess the costs associated with using a blockchain-based ledger as their information system, which could limit efficiency of the system.
They also rely on privacy associated with using public keys, though keys in blockchain-based systems can be associated to owners through transaction-graph analysis Bonneau, The Brooklyn Microgrid system ensures safety and stability via the connection to the bulk power grid. Their approach, however, does not allow independent operation since this would require time synchronized action, which was not part of their design.
Their system's resilience is thus limited. The Brooklyn Microgrid project utilized a smart contract to implement the market mechanisms, as outlined above. Smart contracts, however, often suffer from vulnerabilities that are hard to correct due to the nature of distributed ledgers. For example, Newman analyzed 19, smart contracts and found that 8, contracts had one or more security issues. Errors in smart contracts can result in devastating security incidents.
Accelerating Energy Transition with Blockchain Technology
It appears more and more obvious that energy and blockchain are meant to work together. Dozens of crypto-based projects intend to reward green energy production or facilitate the trading of renewable energy. Making the world greener? There is a token for that. The project is a subsidiary of Green Running , a British company founded in , specialized in data analytics in the energy sector, and commercializing Verv , an AI-based smart meter able to sample electricity data directly from homes at extremely high frequencies. But adding blockchains to the equation changes the nature — and the utility — of a smart meter.
Power to the people - the blockchain's consumer energy revolution begins in New York
The news has covered bitcoin, ethereum, blockchain, cryptocurrency for several years now. Digital currencies and more broadly blockchain are innovative tools in the digital age. Blockchain has the potential to be a valuable new tool for many sectors, including energy. So, what exactly is blockchain technology? How can one arbitrate between its different uses? How can blockchain accelerate the energy transition? Is it ultimately possible to ensure a sustainable and green future from this emerging technology? It is important to make a clear distinction between cryptocurrencies and blockchain to avoid any confusion.
Power grids are undergoing major changes due to rapid growth in renewable energy and improvements in battery technology. Prompted by the increasing complexity of power systems, decentralized solutions are emerging that arrange local communities into transactive microgrids. This paper addresses the problem of implementing transactive energy mechanisms in a distributed setting, providing both privacy and safety. Specifically, we design and implement an automated auction and matching system that ensures safety e. This design problem is challenging because safety, market efficiency, and privacy are competing objectives.
Blockchain Energizer – Volume 26
Blockchain Uses and Applications in the Energy Sector
Known as a blockchain, this technology, used by cryptocurrencies such as Bitcoin, is booming. Is it a good idea? Can it be trusted? Blockchain technology could be very useful in managing the complexity of some of the components of the energy transition, such as the integration of the great capacity of power generation from renewable sources. What is this technology and what are its potential applications to energy?
Blockchain Techologies For the Energy Access Sector
As part of the New York REV proceeding, a pilot program using a blockchain platform has allowed residents within a microgrid to sell their excess power directly to their neighbors without going through the utility. The blockchain technology first rose to prominence in due to its innovative role in tracking the cryptocurrency Bitcoin. Deloitte University Press: Beyond bitcoin: blockchain is coming to disrupt your industry. Wikipedia: Blockchain.
New York's 'Energy Czar' Talks Future of Blockchain for Energy Grids
In this paper, we propose a model-based system architecture for an interoperable blockchain-based local energy market for prosumers in a residential microgrid setting. Based on the Smart Grid Architecture Model our analysis deduced 21 organizational, informational, technical and blockchain requirements for a local energy market and its underlying information system. These are evaluated in the Landau Microgrid case study. We derive, that a clear value proposition for the key stakeholders, standardization of data exchange and communication, and a suitable physical implementation are the major challenges. Funding statement: This research was partly funded by the European Union Horizon research and innovation programme under grant agreement No. Hvelplund, Renewable energy and the need for local energy markets, Energy 31 13 —
Grid Singularity. Grid Singularity is a green blockchain technology company, leading the development of an open, decentralized energy data exchange platform under the auspices of the energy web Foundation EWF. Grid Singularity co-founded EWF together with Rocky Mountain Institute with the aim of establishing a global open source solution, today available as a public test net, with developments to include permissioning features to enable an embedded consensus mechanism for approving transactions and facilitating regulatory oversight. EWF ecosystem boasts both large utilities and startups creating innovative blockchain applications. With the objective to coordinate increasing numbers of small energy producers and flexible loads, in a trustless, open, decentralized network, Grid Singularity is building a grid management agent - D3A.
Blockchain has continued to mature and evolve with its growing use in the energy sector during the past year. Guidehouse Insights reports tracking total energy blockchain projects and unique vendors since According to the analyst, deployments peaked in with growth slowing subsequently.