Smart contract for distributed energy trading in virtual power plants based on blockchain
Jing Lu, Shihong Wu, Hanlei Cheng, Zhiyu Xiang
Abstract
Abstract The energy system is evolving from smart grid to energy Internet. Virtual power plant (VPP), as an important part of the energy Internet, plays an important role in the distributed energy generation and trading. In this article, a blockchain‐based VPP transaction model is established for the future energy Internet driven by real‐time electricity price. Then the smart contracts for distributed energy trading in VPPs using blockchain technology are proposed, and the key technological difficulties are analyzed and the solutions are given. Experiments show that the proposed model can reflect the supply and demand information in real time, so that two‐way selection can be carried out under the condition of information symmetry when distributed energy is connected to the grid. If our method is applied, we can help distributed energy suppliers set electricity prices, reduce the trust cost and improve the energy trading efficiency. Also, we can help the distributed energy voluntarily participate in VPPs and joint maintain the system, then solve the problem of VPP's coordinated control and scheduling of distributed energy resources.