Implementation of Blockchain technology for Energy Trading with Smart Meters

S. M.Suhail Hussain; Shaik Mullapathi Farooq; Taha Selim Ustun

doi:10.1109/i-PACT44901.2019.8960243

Implementation of Blockchain technology for Energy Trading with Smart Meters

S. M.Suhail Hussain
, Shaik Mullapathi Farooq
, Taha Selim Ustun

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

45 Scopus citations

Abstract

Proliferation of Distributed Energy Resources (DER) changed power system operation drastically. They introduced generation at distribution level, which was unprecedented. Also, bidirectional power flow created more optimization opportunities such as Demand Side Management (DSM) and Vehicle-to-Grid (V2G) support. These schemes allow for efficient use of grid infrastructure, storage devices and DERs. In order to plan the operation and calculate bills, it is imperative to keep a record of these transactions. When some sort of trading occurs between multiple parties, trust is a major concern. Traditionally, a third part trusted by all keeps the record of transactions. Using blockchain technology for energy trading eliminates the role of trusted third party. This paper discusses the feasibility and benefits of implementing blockchain for smartgrids. It also develops an Ethereum-based implementation of blockchain technology for energy trading. Results are shown for a case where energy transactions are undertaken between Distribution System Operator (DSO) and smart meters of individual houses.

Original language	English
Title of host publication	2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019
Publisher	Institute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)	9781538681909
DOIs	https://doi.org/10.1109/i-PACT44901.2019.8960243
State	Published - Mar 2019
Externally published	Yes
Event	2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019 - Vellore, India Duration: 22 Mar 2019 → 23 Mar 2019

Publication series

Name	2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019

Conference

Conference	2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019
Country/Territory	India
City	Vellore
Period	22/03/19 → 23/03/19

Bibliographical note

Publisher Copyright:
© 2019 IEEE.

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

Consensus ledger
Distributed Power Optimization
Energy transactions
Peer-to-peer Energy Trading
Smart Grid Communications

ASJC Scopus subject areas

Renewable Energy, Sustainability and the Environment
Electrical and Electronic Engineering
Control and Optimization
Computer Networks and Communications
Computer Science Applications
Energy Engineering and Power Technology

Access to Document

10.1109/i-PACT44901.2019.8960243

Cite this

Hussain, S. M. S., Farooq, S. M., & Ustun, T. S. (2019). Implementation of Blockchain technology for Energy Trading with Smart Meters. In 2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019 Article 8960243 (2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/i-PACT44901.2019.8960243

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title = "Implementation of Blockchain technology for Energy Trading with Smart Meters",

abstract = "Proliferation of Distributed Energy Resources (DER) changed power system operation drastically. They introduced generation at distribution level, which was unprecedented. Also, bidirectional power flow created more optimization opportunities such as Demand Side Management (DSM) and Vehicle-to-Grid (V2G) support. These schemes allow for efficient use of grid infrastructure, storage devices and DERs. In order to plan the operation and calculate bills, it is imperative to keep a record of these transactions. When some sort of trading occurs between multiple parties, trust is a major concern. Traditionally, a third part trusted by all keeps the record of transactions. Using blockchain technology for energy trading eliminates the role of trusted third party. This paper discusses the feasibility and benefits of implementing blockchain for smartgrids. It also develops an Ethereum-based implementation of blockchain technology for energy trading. Results are shown for a case where energy transactions are undertaken between Distribution System Operator (DSO) and smart meters of individual houses.",

keywords = "Consensus ledger, Distributed Power Optimization, Energy transactions, Peer-to-peer Energy Trading, Smart Grid Communications",

author = "Hussain, \{S. M.Suhail\} and Farooq, \{Shaik Mullapathi\} and Ustun, \{Taha Selim\}",

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year = "2019",

month = mar,

doi = "10.1109/i-PACT44901.2019.8960243",

language = "English",

series = "2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019",

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Hussain, SMS, Farooq, SM & Ustun, TS 2019, Implementation of Blockchain technology for Energy Trading with Smart Meters. in 2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019., 8960243, 2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019, Institute of Electrical and Electronics Engineers Inc., 2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019, Vellore, India, 22/03/19. https://doi.org/10.1109/i-PACT44901.2019.8960243

Implementation of Blockchain technology for Energy Trading with Smart Meters. / Hussain, S. M.Suhail; Farooq, Shaik Mullapathi; Ustun, Taha Selim.
2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019. Institute of Electrical and Electronics Engineers Inc., 2019. 8960243 (2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AU - Hussain, S. M.Suhail

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AU - Ustun, Taha Selim

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N2 - Proliferation of Distributed Energy Resources (DER) changed power system operation drastically. They introduced generation at distribution level, which was unprecedented. Also, bidirectional power flow created more optimization opportunities such as Demand Side Management (DSM) and Vehicle-to-Grid (V2G) support. These schemes allow for efficient use of grid infrastructure, storage devices and DERs. In order to plan the operation and calculate bills, it is imperative to keep a record of these transactions. When some sort of trading occurs between multiple parties, trust is a major concern. Traditionally, a third part trusted by all keeps the record of transactions. Using blockchain technology for energy trading eliminates the role of trusted third party. This paper discusses the feasibility and benefits of implementing blockchain for smartgrids. It also develops an Ethereum-based implementation of blockchain technology for energy trading. Results are shown for a case where energy transactions are undertaken between Distribution System Operator (DSO) and smart meters of individual houses.

AB - Proliferation of Distributed Energy Resources (DER) changed power system operation drastically. They introduced generation at distribution level, which was unprecedented. Also, bidirectional power flow created more optimization opportunities such as Demand Side Management (DSM) and Vehicle-to-Grid (V2G) support. These schemes allow for efficient use of grid infrastructure, storage devices and DERs. In order to plan the operation and calculate bills, it is imperative to keep a record of these transactions. When some sort of trading occurs between multiple parties, trust is a major concern. Traditionally, a third part trusted by all keeps the record of transactions. Using blockchain technology for energy trading eliminates the role of trusted third party. This paper discusses the feasibility and benefits of implementing blockchain for smartgrids. It also develops an Ethereum-based implementation of blockchain technology for energy trading. Results are shown for a case where energy transactions are undertaken between Distribution System Operator (DSO) and smart meters of individual houses.

KW - Consensus ledger

KW - Distributed Power Optimization

KW - Energy transactions

KW - Peer-to-peer Energy Trading

KW - Smart Grid Communications

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PB - Institute of Electrical and Electronics Engineers Inc.

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ER -

Hussain SMS, Farooq SM, Ustun TS. Implementation of Blockchain technology for Energy Trading with Smart Meters. In 2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019. Institute of Electrical and Electronics Engineers Inc. 2019. 8960243. (2019 Innovations in Power and Advanced Computing Technologies, i-PACT 2019). doi: 10.1109/i-PACT44901.2019.8960243

Implementation of Blockchain technology for Energy Trading with Smart Meters

Abstract

Publication series

Conference

Bibliographical note

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

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Cite this