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Blockchain for Smart Grid Flexibility - Handling Settlements Between the Aggregator and Prosumers

Authors:
Lasse Berntzen
Qian Meng
Boban Vesin
Marius Rohde Johannessen
Thomas Brekke
Inessa Laur

Keywords: smart grid; blockchain; Ethereum; smart contract; aggregator; flexibility; Smart-MLA

Abstract:
This paper shows how the Ethereum blockchain can register settlements between an aggregator and prosumers in a smart grid. By providing flexible use of electricity to the aggregator, customers get rewarded. The flexibility is valuable for the aggregator since the power infrastructure may be used more efficiently. Blockchain is an exciting technology for handling settlements which, however, also has some clear limitations. For example, the cost per transaction on the public Ethereum blockchain is too high compared to the value of the actual transactions. A private blockchain is an alternative but removes some of the original benefits of using the public blockchain. The paper concludes that blockchain is a promising technology, and a private blockchain is more suitable for transactions containing minimal amounts.

Pages: 40 to 45

Copyright: Copyright (c) IARIA, 2021

Publication date: July 18, 2021

Published in: conference

ISSN: 2308-3956

ISBN: 978-1-61208-869-3

Location: Nice, France

Dates: from July 18, 2021 to July 22, 2021