Utilization of a Blockchain-based Reputation Management System for Energy Trading in SmartGrid 2.0
- Post by: Charithri Yapa, Chamitha De Alwis, Uditha Wijewardhana and Madhusanka Liyanage
- January 21, 2024
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The futuristic energy grids comprise of predominantly renewable generation, to align with the sustainable development goals. This would require integration of renewable energy sources at different levels of the power system out of which, consumers turning into power producers, often referred to as prosumers is an important aspect. Prosumers who generate excess power beyond self-consumption are keen on selling it to the neighbourhood in a peer-to-peer manner, expecting a profit. On the other hand, consumers expect concessions for using more of the green energy. Further, with the high intermittency of these generation, Distribution System Operators (DSO) face the challenge of securing a reliable power supply. In the envisaged grid context, deciding the price for energy trading between prosumers and consumers as well as estimating the reliability of each DSO is considered to be crucial. Hence, this study proposes utilizing an end-to-end reputation management system to maintain the past record related to the performance of each stakeholder, which can be integrated in the price determination and selection decisions. To further ensure decentralized and secure operations of such reputation management systems, a blockchain-based service architecture and smart contracts have been incorporated. The impact of this to the performance of the proposed energy trading system is analysed through cost and latency indices.