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Blockchain Based Decentralized Home Energy Management System Using Double Auction

Authors:
Sweta Malik
Subhasis Thakur
John Breslin
Maeve Duffy

Keywords: Blockchain, Home Energy Management System, double auction, energy trading, incentives, trading algorithm

Abstract:
Due to increasing concern about climate change, the local energy market has been revolutionized with the increase in solar photovoltaic, electric vehicles, smart home appliances, and demand response. These technologies used in the residential sector provide new opportunities for Home Energy Management System (HEMS) to manage peak hours and gain incentives. In this paper, we develop a blockchain-based smart meter and HEMS that can collaboratively participate in energy consumption to maximize energy from renewable sources and reduce peak load. A fully decentralized blockchain-based system is used for trading energy using a double auction. Smart meters are enabled with a lightweight blockchain client that provides detailed information about energy consumption and controls the appliances from installed HEMS. Lightweight blockchain clients can be deployed on the smartphones of the owner of these smart meters. Regulations may prevent renewable electricity injection into the electricity grid. Hence, we investigate how to reduce energy consumption from the electricity grid. A test-bed is constructed and the simulations are done for two seasons: winter and summer. Different case studies and scenarios are carried out to show the proposed model’s effectiveness. The results show that blockchain- based trading algorithms can impact individual users to manage energy consumption with high incentives.

Pages: 41 to 46

Copyright: Copyright (c) IARIA, 2022

Publication date: June 26, 2022

Published in: conference

ISSN: 2308-4375

ISBN: 978-1-61208-986-7

Location: Porto,Portugal

Dates: from June 26, 2022 to June 30, 2022