Blockchain-based decentralized energy management platform for residential distributed energy resources in a virtual power plant

Qing Yang, Hao Wang, Taotao Wang, Shengli Zhang, Xiaoxiao Wu and Hui Wang

Applied Energy, 2021, vol. 294, issue C, No S030626192100489X

Abstract: The advent of distributed energy resources (DERs), such as distributed renewables, energy storage, electric vehicles, and controllable loads, brings a significantly disruptive and transformational impact on the centralized power system. It is widely accepted that a paradigm shift to a decentralized power system with bidirectional power flow is necessary to the integration of DERs. The virtual power plant (VPP) emerges as a promising paradigm for managing DERs to participate in the power system. In this paper, we develop a blockchain-based VPP energy management platform to facilitate a rich set of transactive energy activities among residential users with renewables, energy storage, and flexible loads in a VPP. Specifically, users can interact with each other to trade energy for mutual benefits and provide network services, such as feed-in energy, reserve, and demand response, through the VPP. To respect the users’ independence and preserve their privacy, we design a decentralized optimization algorithm to optimize the users’ energy scheduling, energy trading, and network services. Then we develop a prototype blockchain network for VPP energy management and implement the proposed algorithm on the blockchain network. By experiments using real-world data trace, we validated the feasibility and effectiveness of our algorithm and the blockchain system. The simulation results demonstrate that our blockchain-based VPP energy management platform reduces the users’ cost by up to 38.6% and reduces the overall system cost by 11.2%.

Keywords: Smart grid; Virtual power plant (VPP); Distributed energy resource (DER); Energy management; Distributed optimization; Blockchain (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (40)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S030626192100489X
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:294:y:2021:i:c:s030626192100489x

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/bibliographic
http://www.elsevier. ... 405891/bibliographic

DOI: 10.1016/j.apenergy.2021.117026

Access Statistics for this article

Applied Energy is currently edited by J. Yan

More articles in Applied Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().