Blockchain-based Peer-to-Peer Transactive Energy System for Community Microgrid with Demand Response Management

Hanumantha Rao Bokkisam; Shashank Singh; Ritesh Mohan Acharya; M. P. Selvan

doi:10.17775/CSEEJPES.2020.06660

CSEE Journal of Power and Energy Systems 2022, 8(1): 198-211 https://doi.org/10.17775/CSEEJPES.2020.06660

Open Access | Issue | Published: 10 September 2021

Blockchain-based Peer-to-Peer Transactive Energy System for Community Microgrid with Demand Response Management

Show Author's Information Hide Author's Information Hanumantha Rao Bokkisam(

), Shashank Singh, Ritesh Mohan Acharya, M. P. Selvan

EEE HES Lab Thuvakudi Trichy, National Institute of Technology Tiruchirappalli, Tamilnadu 620015, India

Electrical and Electronics Engineering Department, National Institute of Technology Tiruchirappalli, Tamilnadu 620015, India

Keywords:

optimization, demand response, Blockchain, P2P energy trading, smart contracts and transactive energy

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Bokkisam HR, Singh S, Acharya RM, et al. Blockchain-based Peer-to-Peer Transactive Energy System for Community Microgrid with Demand Response Management. CSEE Journal of Power and Energy Systems, 2022, 8(1): 198-211. https://doi.org/10.17775/CSEEJPES.2020.06660

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Abstract

Interest in transactive energy frameworks (TEFs) is proliferating due to the modern smart grid paradigm. This paper proposes a TEF, which applies auction-theory, incorporates a system of agents, and facilitates a transactive energy market (TEM) through an auctioneer. Further, it also enables peer-to-peer (P2P) energy trading among the residential buildings in community microgrid for possible monetary benefits. In this framework, there are three agents, namely, auctioneer, participants, and utility. The auctioneer is a managing agent modeled using auction theory to determine day-ahead internal market-clearing price and quantity. The participants are autonomous and rational decision-makers; they aim to minimize their electricity bills through the demand response (DR) management. Two types of architectures, one with the third-party agent demonstrated using the MATLAB environment and the other with the virtual agent (without third-party) implemented using the blockchain environment are presented. The simulation results reflect significant monetary benefits to each market participant, improved community self-sufficiency, self-consumption, and reduced reliance on the utility grid.

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Blockchain-based Peer-to-Peer Transactive Energy System for Community Microgrid with Demand Response Management

Show Author's information Hide Author's Information Hanumantha Rao Bokkisam(

), Shashank Singh, Ritesh Mohan Acharya, M. P. Selvan

EEE HES Lab Thuvakudi Trichy, National Institute of Technology Tiruchirappalli, Tamilnadu 620015, India

Electrical and Electronics Engineering Department, National Institute of Technology Tiruchirappalli, Tamilnadu 620015, India

Abstract

Keywords: optimization, demand response, Blockchain, P2P energy trading, smart contracts and transactive energy

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Publication history

Received: 11 December 2020

Revised: 14 February 2021

Accepted: 12 June 2021

Published: 10 September 2021

Issue date: January 2022

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Acknowledgements

This publication is an outcome of the R&D work undertaken in the project under the Visvesvaraya Ph.D. Scheme of Ministry of Electronics and Information Technology, Government of India, being implemented by Digital India Corporation (formerly Media Lab Asia) [grant PhD-MLA-4(16)/2014 dated 7 April 2016].