Consortium Blockchain-Based Microgrid Market Transaction Research

Wenting Zhao, Jun Lv, Xilong Yao, Juanjuan Zhao, Zhixin Jin, Yan Qiang, Zheng Che and Chunwu Wei
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Wenting Zhao: School of Economic and Management, Taiyuan University of Technology, Jinzhong 030600, China
Jun Lv: College of Computer Science and Technology, Lvliang University, Lvliang 033000, China
Xilong Yao: School of Economic and Management, Taiyuan University of Technology, Jinzhong 030600, China
Juanjuan Zhao: School of Economic and Management, Taiyuan University of Technology, Jinzhong 030600, China
Zhixin Jin: School of Economic and Management, Taiyuan University of Technology, Jinzhong 030600, China
Yan Qiang: School of Information and Computer, Taiyuan University of Technology, Jinzhong 030600, China
Zheng Che: School of Information and Computer, Taiyuan University of Technology, Jinzhong 030600, China
Chunwu Wei: School of Information and Computer, Taiyuan University of Technology, Jinzhong 030600, China

Energies, 2019, vol. 12, issue 20, 1-22

Abstract: The microgrid trading market can effectively solve the problem of in-situ consumption of distributed energy and reduce the impact of distributed generation (DG) on the grid. However, the traditional microgrid trading model has some shortcomings, such as high operation cost and poor security. Therefore, in this paper, a microgrid market trading model was developed using consortium blockchain technology and Nash game equilibrium theory. Firstly, blockchain container is used to authenticate the users who want to participate in the transaction. Then, the pricing system collects and integrates transaction requests submitted by users, then formulates transaction pricing strategy of microgrid using Nash equilibrium theory. Finally, the price, trading volume, and user information are submitted to the blockchain container for transaction matching to achieve the transaction. After the transaction is completed, its related information is recorded in the hyperledger and the dispatch system is called. The scene simulation was implemented on Fabric 1.1 platform and the results analyzed. Results show that the trading model proposed in this paper greatly reduces the cost of electricity purchase and improves the benefits of electricity sales. Besides, the model is far more capable of handling transactions than the models based on Bitcoin and Ethereum.

Keywords: microgrid market; electricity transaction; consortium blockchain technology; Nash game equilibrium theory (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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