Abstract
Interconnected microgrids are becoming a building block in smart systems. Initiating secure and efficient energy trading mechanisms among networked microgrids for reliability and economic mutual benefits have become a crucial task. Recently, integrating blockchain technologies into the energy sector have gained significant amount of interest, e.g. transactive grid. This paper proposes a two-layer secured smart contract-based energy trading mechanism to allow microgrids to establish coalitions, adjust the electricity-trading price, and achieve transparent and decentralized secure transactions without intervention of a third trusted party. Since reliability benefits are main drivers of microgrids operation in islanded mode, a new decentralized smart contract based-energy trading model for islanded networked microgrids is proposed in the first layer with an objective to achieve demand generation balance. In the second layer, and to achieve a higher security, all executed contracts are verified and saved in a blockchain based on a new developed two-phase consensus method that utilizes practical Byzantine Fault Tolerance (pBFT), and a modified Proof of Stake (PoS). Simulations are conducted in Python environment to validate the proposed energy trading model.
| Original language | British English |
|---|---|
| Article number | 9261445 |
| Pages (from-to) | 211291-211302 |
| Number of pages | 12 |
| Journal | IEEE Access |
| Volume | 8 |
| DOIs | |
| State | Published - 2020 |
Keywords
- blockchain
- energy trading
- Networked microgrids
- smart contracts