Demand-Side Peer-to-Peer Energy Trading by Unknown

Author:Unknown
Language: eng
Format: epub
ISBN: 9783031352331
Publisher: Springer International Publishing

4.6 Concluding Remarks

The increasing growth of renewable energy sources in power systems necessitates the implementation of novel control strategies for optimal operation of power systems. Blockchain technology can be applied in various fields of smart grids, especially for peer-to-peer energy trading. Decreasing transaction costs, improving system resiliency, increasing system security, and guaranteeing privacy are among the most important benefits of blockchain technologies. Smart grids equipped with blockchain technology play a critical role in providing flexible and innovative solutions in the management and control of modern power systems. The concept of P2P energy transactions has also been successfully utilized in many cases around the world.

In this chapter, the application of blockchain technologies in smart energy grids with a focus on P2P energy trading was investigated. The general structure of the blockchain and its components were introduced and their relationships and the way they interact were explained. In addition, the main benefits as well as the most important challenges to deal with security and privacy issues were discussed.

References

1.

Adeyemi, A., et al. (2020). Blockchain technology applications in power distribution systems. The Electricity Journal, 33(8), 106817.Crossref

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