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TitleA permissioned blockchain system to reduce peak demand in residential communities via energy trading: a real-world case study
 
AuthorSaxena, S; Farag, H E Z; Brookson, A; Turesson, H; Kim, H
SourceIEEE Access vol. 9, 2020 p. 5517-5530, https://doi.org/10.1109/ACCESS.2020.3047885 Open Access logo Open Access
Image
Year2020
PublisherInstitute of Electrical and Electronics Engineers
Documentserial
Lang.English
Mediapaper; digital; on-line
RelatedThis publication is related to the following publications
File formatpdf; html
ProvinceOntario
NTS30; 31; 32; 40; 41; 42; 43; 44; 52; 53; 54
Lat/Long WENS -95.2500 -74.2500 57.0000 41.5000
SubjectsScience and Technology; Economics and Industry; energy; Climate change; Adaptation measures and options; cumulative effects
Illustrationstables; schematic diagrams; schematic representations; plots; flow diagrams; bar graphs; time series; phorographs
ProgramClimate Change Impacts and Adaptation
ProgramClimate Change Impacts and Adaptation Climate Change Adaptation Program
Released2020 12 30
AbstractResidential energy trading systems (RETS) enable homeowners with distributed energy resources (DERs) to participate in virtualized energy markets that have the potential to reduce the peak demand of residential communities. Blockchains are key enablers of RETS, by virtue of providing a decentralized, self-governed network that mitigates concerns regarding privacy and transparency. However, more real-world case studies are needed to evaluate the techno-economic viability of blockchain-based RETS to improve their positive uptake. Thus, this article develops a permissioned blockchain-based RETS, which enables homeowners to select bidding strategies that consider the individual preferences of their DERs, and further evaluates the impact of the bidding strategies on reducing the peak demand of the community. The proposed system is implemented on the permissioned Hyperledger Fabric platform, where a decentralized ledger is used to store all energy bids, and a smart contract is used to execute a double auction mechanism and dispatch the homeowner DERs. The proposed system is validated by conducting simulations on a 8-home community using real-world data, and also by deploying the system to a Canadian microgrid, where the smart contract execution time is benchmarked. Simulation results demonstrate the efficacy of the proposed system by achieving a peak demand reduction of up to 48 kW (62%), which leads to an average savings of $1.02 M for the distribution system operator by avoiding transformer upgrades. Also, the simulation results show that the execution time of the proposed smart contract is 17.12 seconds across 12 nodes, which is sufficient for RETS.
Summary(Plain Language Summary, not published)
This article develops a permissioned blockchain-based residential energy trading system (RETS), which enables homeowners to select bidding strategies that consider the individual preferences of their DERs, and further evaluates the impact of the bidding strategies on reducing the peak demand of the community.
GEOSCAN ID330262

 
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