Blockchain-based Smart Grids

Description

Blockchain-Based Smart Grids presents emerging applications of blockchain in electrical system and looks to future developments in the use of blockchain technology in the energy market. Rapid growth of renewable energy resources in power systems and significant developments in the telecommunication systems has resulted in new market designs being employed to cover unpredictable and distributed generation of electricity. This book considers the marriage of blockchain and grid modernization, and discusses the transaction shifts in smart grids, from centralized to peer-to-peer structures. In addition, it addresses the effective application of these structures to speed up processes, resulting in more flexible electricity systems. Aimed at moving towards blockchain-based smart grids with renewable applications, this book is useful to researchers and practitioners in all sectors of smart grids, including renewable energy providers, manufacturers and professionals involved in electricity generation from renewable sources, grid modernization and smart grid applications. Considers the current challenges facing smart grids and presents solutions on how blockchain technology could counter these issuesIncorporates detailed applications of blockchain in smart grids based on dynamic research and developmentsIncludes models, algorithms, and frameworks to practically demonstrate the uses of blockchain technologyWritten by a global group of authors for worldwide coverage Cover Blockchain-based Smart Grids Copyright Contributors 1 Introductory chapter: An overview of the book 2 A panorama of applications of blockchain technology to energy Introduction Context Definitions Blockchain Bitcoin Ethereum Smart contracts ICO and token sales Characteristics Current and past projects Limitations Rules and regulations Applications of BC to energy Energy trading Environmental attribute management Demand response Electric mobility Financing General considerations Conclusion Conclusion Appendix 1: Examples of companies using the blockchain technology in the energy sector References 3 Transition toward blockchain-based electricity trading markets The rise of blockchain The fourth industrial revolution An interconnected world: The rise of the Internet-of-things Decentralized economies: The success of blockchain Adoption of blockchain by the energy sector P2P energy markets: The emerging paradigm shift Expansion of blockchain applications Blockchain 3.0: Next-generation energy systems Acknowledgments References 4 Decentralized operation of interdependent power and energy networks: Blockchain and security Introduction Grid modernization toward smarter power systems Large-scale problems: From centralized to decentralized optimization Blockchain-based interdependent power and energy network: A transition toward decentralized, smart, and secure energy ... Conclusion References Further reading 5 The role of various market participants in blockchain business model Introduction Market participants Prosumers Aggregators Virtual power plants Energy community manager System operators Blockchain business model Peer-to-peer energy-trading platform Target participants Roles of market participants Flexibility trading platform Target participants Roles of market participants OTC trading platform Target participants Roles of market participants Crowdsale trading platform Target participants Roles of market participants Discussion Acknowledgments References 6 Blockchain and its application fields in both power economy and demand side management Introduction Blockchain technology in different areas including power economy Blockchain with DR applications Concluding remarks Acknowledgments References 7 Blockchain-based demand response using prosumer scheduling Introduction The decentralized demand response model Stage 1: The prosumers scheduling and the first settlement Stage 2: The prosumers rescheduling and the final settlement The blockchain-based platform Simulation: Numerical results Decentralized versus centralized aggregator-based scheme The effects of the contribution of the prosumers on the market load profile Conclusion References 8 Blockchain in decentralized demand-side control of microgrids Introduction Related work Blockchains and renewable energies Blockchain basics Blockchain applications in microgrids Blockchain-based management of smart energy grids Smart contracts for demand response programs Validation and results Conclusions References Further reading 9 Blockchain for decentralized optimization of energy sources: EV charging coordination via blockchain-based cha ... Introduction Motivation First contribution Second contribution EV charging power quota transaction mechanism Implementation via Ethereum Charging demand submission Charging power quota double auction Settlement Case studies Data Simulation results Conclusion References 10 Islanded microgrid management based on blockchain communication Introduction Literature review Blockchain Consensus mechanisms Smart contracts Platform architecture Proposed MAS Algorithm for the auction process Acknowledgments References 11 Blockchain-based protection schemes of DC microgrids Introduction DC microgrids Power resources Energy storage system Converters Challenges in protection of DC microgrids Immunity against cyber attack Low tolerant of converters Unsuitability of the AC C.Bs Bidirectional fault current Unsuitability of the AC protection methods Cyber attacks SV and GOOSE message cyber-attacks Network security cyber-attacks Blockchain structure Proposed blockchain-based DC microgrid protection technique Differential fault detection Blockchain backup protection system Simulation results Fault detection and isolation without cyber-attack Fault detection and isolation by considering a cyberattack Conclusion References Index A B C D E F G H I K L M N O P Q R S T V W Back Cover