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Energies 2017, 10(12), 1971; https://doi.org/10.3390/en10121971

A Novel Electricity Transaction Mode of Microgrids Based on Blockchain and Continuous Double Auction

1
State Key Laboratory of Power Transmission Equipment & System Security and New Technology, Chongqing University, Chongqing 400044, China
2
School of Electrical and Electronic Engineering, Nanyang Technological University, Singapore 639798, Singapore
*
Author to whom correspondence should be addressed.
Received: 8 October 2017 / Revised: 14 November 2017 / Accepted: 17 November 2017 / Published: 26 November 2017
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Abstract

The installed capacity of distributed generation (DG) based on renewable energy sources has increased continuously in power systems, and its market-oriented transaction is imperative. However, traditional transaction management based on centralized organizations has many disadvantages, such as high operation cost, low transparency, and potential risk of transaction data modification. Therefore, a decentralized electricity transaction mode for microgrids is proposed in this study based on blockchain and continuous double auction (CDA) mechanism. A buyer and seller initially complete the transaction matching in the CDA market. In view of the frequent price fluctuation in the CDA market, an adaptive aggressiveness strategy is used to adjust the quotation timely according to market changes. DG and consumer exchange digital certificate of power and expenditure on the blockchain system and the interests of consumers are then guaranteed by multi-signature when DG cannot generate power due to failure or other reasons. The digital certification of electricity assets is replaced by the sequence number with specific tags in the transaction script, and the size of digital certification can be adjusted according to transaction energy quantity. Finally, the feasibility of market mechanism through specific microgrid case and settlement process is also provided. View Full-Text
Keywords: microgrid market; electricity transaction; blockchain; continuous double auction; adaptive aggressiveness strategy microgrid market; electricity transaction; blockchain; continuous double auction; adaptive aggressiveness strategy
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Wang, J.; Wang, Q.; Zhou, N.; Chi, Y. A Novel Electricity Transaction Mode of Microgrids Based on Blockchain and Continuous Double Auction. Energies 2017, 10, 1971.

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