Abstract-We present an architecture for peer-to-peer energy markets which can guarantee that operational constraints are respected and payments are fairly rendered, without relying on a centralized utility or microgrid aggregator. We demonstrate how to address trust, security, and transparency issues by using blockchains and smart contracts, two emerging technologies which can facilitate decentralized coordination between nontrusting agents. While blockchains are receiving considerable interest as a platform for distributed computation and data management, this is the first work to examine their use to facilitate distributed optimization and control. Using the Alternating Direction Method of Multipliers (ADMM), we pose a decentralized optimal power flow (OPF) model for scheduling a mix of batteries, shapable loads, and deferrable loads on an electricity distribution network. The DERs perform local optimization steps, and a smart contract on the blockchain serves as the ADMM coordinator, allowing the validity and optimality of the solution to be verified. The optimal schedule is securely stored on the blockchain, and payments can be automatically, securely, and trustlessly rendered without requiring a microgrid operator.
The use of smart contracts for distributed optimization of power flow within a microgrid is described in REF , where the solution is claimed addressing trust, security, and transparency issues.
Blockchains for decentralized optimization of energy resources in microgrid networks
2017 IEEE Conference on Control Technology and Applications (CCTA)
2017 IEEE Conference on Control Technology and Applications (CCTA)
Business Computer Science