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Appl. Sci. 2019, 9(8), 1561; https://doi.org/10.3390/app9081561

When Energy Trading Meets Blockchain in Electrical Power System: The State of the Art

1
School of Control and Computer Engineering, North China Electric Power University, Beijing 102206, China
2
Department of Mathematics and Computer Science, Fayetteville State University, Fayetteville, NC 28301, USA
3
Department of Computer and Information Science, Temple University, Philadelphia, PA 19122, USA
4
Department of Computer Science and Engineering, Qatar University, Doha 2713, Qatar
*
Author to whom correspondence should be addressed.
Received: 19 February 2019 / Revised: 8 April 2019 / Accepted: 9 April 2019 / Published: 15 April 2019
(This article belongs to the Special Issue Intelligent Energy Management of Electrical Power Systems)
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Abstract

With the rapid growth of renewable energy resources, energy trading has been shifting from the centralized manner to distributed manner. Blockchain, as a distributed public ledger technology, has been widely adopted in the design of new energy trading schemes. However, there are many challenging issues in blockchain-based energy trading, e.g., low efficiency, high transaction cost, and security and privacy issues. To tackle these challenges, many solutions have been proposed. In this survey, the blockchain-based energy trading in the electrical power system is thoroughly investigated. Firstly, the challenges in blockchain-based energy trading are identified and summarized. Then, the existing energy trading schemes are studied and classified into three categories based on their main focuses: energy transaction, consensus mechanism, and system optimization. Blockchain-based energy trading has been a popular research topic, new blockchain architectures, models and products are continually emerging to overcome the limitations of existing solutions, forming a virtuous circle. The internal combination of different blockchain types and the combination of blockchain with other technologies improve the blockchain-based energy trading system to better satisfy the practical requirements of modern power systems. However, there are still some problems to be solved, for example, the lack of regulatory system, environmental challenges and so on. In the future, we will strive for a better optimized structure and establish a comprehensive security assessment model for blockchain-based energy trading system. View Full-Text
Keywords: energy trading; blockchain; electrical power system energy trading; blockchain; electrical power system
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Wang, N.; Zhou, X.; Lu, X.; Guan, Z.; Wu, L.; Du, X.; Guizani, M. When Energy Trading Meets Blockchain in Electrical Power System: The State of the Art. Appl. Sci. 2019, 9, 1561.

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