Blockchain-Based Peer-to-Peer Transactive Energy Management Scheme for Smart Grid System.

Area of Science:

• Smart Grid technologies
• Decentralized energy systems
• Blockchain applications

Background:

• Transactive Energy Management (TEM) in Smart Grids (SG) enables consumer participation via Peer-to-Peer (P2P) energy trading.
• Existing P2P models face challenges including single-point-of-failure, scalability, and security concerns.

Purpose of the Study:

• To propose a Decentralized and Transparent P2P Energy Trading (DT-P2PET) scheme to address limitations in current P2P energy management.
• To enhance prosumer and consumer profitability through dynamic pricing and increased participation.

Main Methods:

• Implementation of a DT-P2PET scheme utilizing blockchain technology, specifically Ethereum Smart Contracts (SCs) and InterPlanetary File System (IPFS).
• Integration of a recommender mechanism to boost prosumer engagement.
• Real-time P2P trading facilitated by deployed Ethereum SCs.

Main Results:

• The DT-P2PET scheme demonstrates potential for increased profit generation for both consumers and prosumers.
• Evaluation metrics include profit, data storage costs, network bandwidth, and data transfer rates, showing improvements over existing methods.
• The system effectively manages decentralized energy exchange and reduces grid burden.

Conclusions:

• The proposed DT-P2PET scheme offers a secure, transparent, and efficient solution for decentralized P2P energy trading in Smart Grids.
• Blockchain and smart contracts provide a robust framework for overcoming the limitations of traditional P2P energy management systems.
• The study highlights the viability of dynamic pricing and recommender systems in fostering active participation in energy markets.