Blockchain for Peer‐to‐Peer Energy Trading in Electric Vehicle Charging Stations With Constrained Power Distribution and Urban Transportation Networks
Matin Farhoumandi, Sheida Bahramirad, Mohammad Shahidehpour, Ahmed Alabdulwahab
Abstract
ABSTRACT The proliferation of distributed energy resources (DERs) and the large‐scale electrification of transportation are driving forces behind the ongoing evolution for transforming traditionally passive consumers into prosumers (both consumers and producers) in coordinated power distribution network (PDN) and urban transportation network (UTN). In this new paradigm, peer‐to‐peer (P2P) energy trading is a promising energy management strategy for dynamically balancing the supply and demand in electricity markets. In this paper, we propose the application of Blockchain (BC) to electric vehicle charging station (EVCS) operations to optimally transact energy in a hierarchical P2P framework. In the proposed framework, a decentralised privacy‐preserving clearing mechanism is implemented in the transactive energy market (TEM) in which BC's smart contracts are applied in a coordinated PDN and UTN operation. The effectiveness of the proposed TEM and its solution approach are validated via numerical simulations which are performed on a modified IEEE 123‐bus PDN and a modified Sioux Falls UTN.