China
Africa
Explore chapters and articles related to this topic
Application of Blockchain for Energy Transition Systems
Published in Muhammad Asif, Handbook of Energy Transitions, 2023
Gijs van Leeuwen, Tarek Alskaif, Bedir Tekinerdogan
In this section, we will describe in more detail the applications that blockchain has in the power grid, and surrounding system, as that is where most new applications and innovations have been proposed [13,23–26]. Blockchain networks may enable a range of novel transactive energy services in the power system. While the development of marketable blockchain applications is still at a relatively early stage, the amount of R&D on the blockchain is increasing as well as the number of piloting and experimentation projects [3,4,15]. These initiatives aim to explore and innovate new and creative solutions, many of which are associated with the trends described elsewhere in this book. Before describing several concrete applications from existing literature, we propose several relevant properties and types of ETSs. In conjunction with the blockchain characterization framework from Table 14.2, these properties will be used to classify the applications of blockchain within ETSs.
The Role of Blockchain and IoT in Modern Energy Systems
Published in Pawan Kumar, Srete Nikolovski, Z Y Dong, Internet of Energy Handbook, 2021
Wesley Doorsamy, Babu Sena Paul
Although blockchain provides for the enhancement of the security, privacy autonomy, governance and integrity of IoT-based systems, another ongoing research challenge is the data flow from an architectural perspective [24]. As the suitability of the blockchain architecture in its principal format is largely deemed incompatible for integration and application in the IoT environment, there have been innovative proposals to augment architectures and alleviate limitations such as presented by the on-chain data allocation mechanism in [24], periodic updating data aggregation mechanisms with lightweight blockchain protocol in [25], and sliding window blockchain architecture in [26]. In [27], a multi-layered/tiered system architecture is proposed to service the new transactive energy paradigm in which blockchain plays a fundamental role.
Smart Grid Standardization Work
Published in Stuart Borlase, Smart Grids, 2018
Aaron F. Snyder, Frances Cleveland, Eric Lambert, Erich Gunther
Over the past decade, the use of DER for market efficiency and grid reliability has grown dramatically. Federal and state policy objectives point to an important role for customers’ loads, generation, and storage in the management of an increasingly unpredictable power system. The addition of DER on the distribution system requires changes to operation, control, and markets for those resources. From this need is a focus on an area of activity called “Transactive Energy” defined as “a system or economic and control mechanisms that allows the dynamic balance of supply and demand across the entire electrical infrastructure using value as a key operational parameter” [20]. This seemingly brings together different disciplines within the utility related to economic optimization, multiobjective controls, adaptive protection, supervisory control, and data acquisition, among others. One other applied element is the differing time scales involved in the different problems being solved; for example, protection tends to be in the tens of milliseconds, meter data intervals on the order of minutes, and market operations on an hour-ahead or day-ahead schedule [20].
Barriers to blockchain-based decentralised energy trading: a systematic review
Published in International Journal of Sustainable Energy, 2023
Samuel Karumba, Subbu Sethuvenkatraman, Volkan Dedeoglu, Raja Jurdak, Salil S. Kanhere
As highlighted above, hundreds of blockchain-based energy trading frameworks are designed for transactive energy space. Several blockchain platforms on which developers implement these frameworks exist, ranging from popular ones such as Ethereum, Hyperledger Fabric, and IOTA to completely developing new ones such as Lition (2019) and Enosi (n.d.). However, implementing these frameworks on different blockchain platforms complicates how they will interoperate and share value among participants transacting across different multi-chains. In our previous work (Karumba et al. 2020), we investigated this issue and proposed a hypergraph-based adaptive consortium blockchain model for privacy-preserving cross-chain transaction verification. Inter-chain operations are still nascent and require efforts to prevent double-spending attacks in critical electronic payments for energy trading (Aitzhan and Svetinovic 2018). Additionally, double spending transactions in the case of unbundled renewable energy certificates (i.e. energy and renewable certificates sold separately) still occur where renewable generators sell the same REC multiple times. Therefore, standards and mechanisms for interoperable blockchain architectures are required to combat these challenges and expand inter-market opportunities.
Science of design for societal-scale cyber-physical systems: challenges and opportunities
Published in Cyber-Physical Systems, 2019
Janos Sztipanovits, Xenofon Koutsoukos, Gabor Karsai, Shankar Sastry, Claire Tomlin, Werner Damm, Martin Fränzle, Jochem Rieger, Alexander Pretschner, Frank Köster
Power grids today are going through a major transformation with the increased use of renewable energy generation technologies and market-based transactive exchanges between energy producers and consumers [36]. Transactive Energy Systems (TES) integrate economic and control mechanisms that allow the dynamic balance of supply and demand across the entire electrical infrastructure using value as a key operational parameter [37]. The motivation for transactive energy comes from the increasing diversity of resources and components in the electric power system and the inability of existing practices to accommodate these changes. Expanded deployment of variable generation on the bulk power side, distributed energy resources throughout the system, and new intelligent load devices and appliances on the consumption side necessitate new approaches to H-CPS, with new business models for how electric power is managed and delivered. Smart energy and electricity networks are a crucial component in smart cities and have significant environmental, energy, economic and societal impacts [38]. Their design and implementation require a broad perspective that includes environmental, security and social aspects.
Optimal control of energy storage under random operation permissions
Published in IISE Transactions, 2018
Somayeh Moazeni, Boris Defourny
This problem is motivated by market frameworks where the access of energy resources to transactions is restricted and managed in real time by a distribution system operator. Recently, there has been growing interest in so-called transactive energy markets aimed at facilitating transactions, including unscheduled transactions. Transactive energy markets can enable bilateral transactions without passing through the wholesale markets (Rahimi and Ipakchi, 2012, 2016; Cazalet et al., 2016; Kristov et al., 2016; Olken, 2016). Transactive energy markets would allow distributed energy resources without direct access to wholesale markets to participate in energy transactions over the distribution grid. Energy storage’s unique capabilities (Denholm et al., 2010; DOE Report, 2011; Diaz-Gonzalez et al., 2012; Du and Lu, 2014), combined with technological advances that have been driving costs down (Quadrennial Energy Review, 2015; Straubel, 2015), suggest that energy storage is an asset that can play an important enabling role in the development of transactive energy markets. At the same time, further deployment of energy storage requires developing appropriate market models to address current market and regulatory barriers (Sioshansi et al., 2012; Bhatnagar et al., 2013; Xiao et al., 2014), especially when it comes to encouraging small participants at the level of the distribution network.