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25 April 2022 Renewable energy trading mechanism based on blockchain technology
Yang Tang, WeiQiang Huo, MeiTing Liu, Yanni Jiang
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Proceedings Volume 12244, 2nd International Conference on Mechanical, Electronics, and Electrical and Automation Control (METMS 2022); 122445D (2022) https://doi.org/10.1117/12.2635160
Event: 2nd International Conference on Mechanical, Electronics, and Electrical and Automation Control (METMS 2022), 2022, Guilin, China
Abstract
In order to accelerate the establishment of a market system and long-term mechanism to promote renewable energy production and consumption, renewable energy trading (RET) has been proposed. In this study, we consider a blockchainbased renewable energy trading scheme and try to analyze the trading mechanism. Blockchain may guarantee the security of propagated information and help with the rapid and automatic trading matching through smart contract. In summary, blockchain-based RET owns the properties of decentralization, immutability, traceability and automation compare to traditional RET. In addition, results of cases show that the rule that switching the trading mechanism when ratio of supply and demand (RSD) exceeds 1.0 should be added in smart contract in order to get more profit.
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Yang Tang, WeiQiang Huo, MeiTing Liu, and Yanni Jiang "Renewable energy trading mechanism based on blockchain technology", Proc. SPIE 12244, 2nd International Conference on Mechanical, Electronics, and Electrical and Automation Control (METMS 2022), 122445D (25 April 2022); https://doi.org/10.1117/12.2635160
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KEYWORDS
Renewable energy
Information security
Solar energy
Modeling
Symmetric-key encryption
Wind energy
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