Bi-Directional Mutual Energy Trade between Smart Grid and Energy Districts Using Renewable Energy Credits
A central authority, in a conventional centralized energy trading market, superintends energy and financial transactions. The central authority manages and controls transparent energy trading between producer and consumer, imposes a penalty in case of contract violation, and disburses numerous rewar...
| Main Authors: | , , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2021-04-01
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| Series: | Sensors |
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| Online Access: | https://www.mdpi.com/1424-8220/21/9/3088 |
| _version_ | 1797535822894858240 |
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| author | Sana Rehman Bilal Khan Jawad Arif Zahid Ullah Abdullah J. Aljuhani Ahmad Alhindi Sahibzada M. Ali |
| author_facet | Sana Rehman Bilal Khan Jawad Arif Zahid Ullah Abdullah J. Aljuhani Ahmad Alhindi Sahibzada M. Ali |
| author_sort | Sana Rehman |
| collection | DOAJ |
| description | A central authority, in a conventional centralized energy trading market, superintends energy and financial transactions. The central authority manages and controls transparent energy trading between producer and consumer, imposes a penalty in case of contract violation, and disburses numerous rewards. However, the management and control through the third party pose a significant threat to the security and privacy of consumers’/producers’ (participants) profiles. The energy transactions between participants involving central authority utilize users’ time, money, and impose a computational burden over the central controlling authority. The Blockchain-based decentralized energy transaction concept, bypassing the central authority, is proposed in Smart Grid (SG) by researchers. Blockchain technology braces the concept of Peer-to-Peer (P2P) energy transactions. This work encompasses the SolarCoin-based digital currency blockchain model for SG incorporating RE. Energy transactions from Prosumer (P) to Prosumer, Energy District to Energy District, and Energy District to SG are thoroughly investigated and analyzed in this work. A robust demand-side optimized model is proposed using Genetic Algorithm (GA) and Particle Swarm Optimization (PSO) to maximize Prosumer Energy Surplus (PES), Grid revenue (GR), percentage energy transactions accomplished, and decreased Prosumer Energy Cost (PEC). Real-time averaged energy data of Australia are employed, and a piece-wise energy price mechanism is implemented in this work. The graphical analysis and tabular statistics manifest the efficacy of the proposed model. |
| first_indexed | 2024-03-10T11:50:47Z |
| format | Article |
| id | doaj.art-15e26b2c569b4119bb6b52273bc10bd5 |
| institution | Directory Open Access Journal |
| issn | 1424-8220 |
| language | English |
| last_indexed | 2024-03-10T11:50:47Z |
| publishDate | 2021-04-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Sensors |
| spelling | doaj.art-15e26b2c569b4119bb6b52273bc10bd52023-11-21T17:40:55ZengMDPI AGSensors1424-82202021-04-01219308810.3390/s21093088Bi-Directional Mutual Energy Trade between Smart Grid and Energy Districts Using Renewable Energy CreditsSana Rehman0Bilal Khan1Jawad Arif2Zahid Ullah3Abdullah J. Aljuhani4Ahmad Alhindi5Sahibzada M. Ali6Department of Electrical & Computer Engineering, Abbottabad Campus, COMSATS University Islamabad, Abbottabad 22060, PakistanDepartment of Electrical & Computer Engineering, Abbottabad Campus, COMSATS University Islamabad, Abbottabad 22060, PakistanSchool of Electrical Engineering & Computer Science (SEECS), National University of Sciences & Technology (NUST), Islamabad 44000, PakistanDepartment of Electrical Engineering, Sialkot Campus, University of Management and Technology Lahore, Sialkot 51310, PakistanDepartment of Electrical and Computer Engineering, King Abdulaziz University, Jeddah 21589, Saudi ArabiaDepartment of Computer Science, Umm Al-Qura University, Makkah 24381, Saudi ArabiaDepartment of Electrical & Computer Engineering, Abbottabad Campus, COMSATS University Islamabad, Abbottabad 22060, PakistanA central authority, in a conventional centralized energy trading market, superintends energy and financial transactions. The central authority manages and controls transparent energy trading between producer and consumer, imposes a penalty in case of contract violation, and disburses numerous rewards. However, the management and control through the third party pose a significant threat to the security and privacy of consumers’/producers’ (participants) profiles. The energy transactions between participants involving central authority utilize users’ time, money, and impose a computational burden over the central controlling authority. The Blockchain-based decentralized energy transaction concept, bypassing the central authority, is proposed in Smart Grid (SG) by researchers. Blockchain technology braces the concept of Peer-to-Peer (P2P) energy transactions. This work encompasses the SolarCoin-based digital currency blockchain model for SG incorporating RE. Energy transactions from Prosumer (P) to Prosumer, Energy District to Energy District, and Energy District to SG are thoroughly investigated and analyzed in this work. A robust demand-side optimized model is proposed using Genetic Algorithm (GA) and Particle Swarm Optimization (PSO) to maximize Prosumer Energy Surplus (PES), Grid revenue (GR), percentage energy transactions accomplished, and decreased Prosumer Energy Cost (PEC). Real-time averaged energy data of Australia are employed, and a piece-wise energy price mechanism is implemented in this work. The graphical analysis and tabular statistics manifest the efficacy of the proposed model.https://www.mdpi.com/1424-8220/21/9/3088blockchainpeer-to-peerSolar Coinenergy transactionsenergy districtscentral authority |
| spellingShingle | Sana Rehman Bilal Khan Jawad Arif Zahid Ullah Abdullah J. Aljuhani Ahmad Alhindi Sahibzada M. Ali Bi-Directional Mutual Energy Trade between Smart Grid and Energy Districts Using Renewable Energy Credits Sensors blockchain peer-to-peer Solar Coin energy transactions energy districts central authority |
| title | Bi-Directional Mutual Energy Trade between Smart Grid and Energy Districts Using Renewable Energy Credits |
| title_full | Bi-Directional Mutual Energy Trade between Smart Grid and Energy Districts Using Renewable Energy Credits |
| title_fullStr | Bi-Directional Mutual Energy Trade between Smart Grid and Energy Districts Using Renewable Energy Credits |
| title_full_unstemmed | Bi-Directional Mutual Energy Trade between Smart Grid and Energy Districts Using Renewable Energy Credits |
| title_short | Bi-Directional Mutual Energy Trade between Smart Grid and Energy Districts Using Renewable Energy Credits |
| title_sort | bi directional mutual energy trade between smart grid and energy districts using renewable energy credits |
| topic | blockchain peer-to-peer Solar Coin energy transactions energy districts central authority |
| url | https://www.mdpi.com/1424-8220/21/9/3088 |
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