Blockchain Based Sustainable Local Energy Trading Considering Home Energy Management and Demurrage Mechanism
<p>Technologies in Distributed Energy Resource (DER): Superconducting Magnetic Energy Storage (SMES), Photovoltaics (PV), and Battery Energy Storage (BES).</p> "> Figure 2
<p>Proposed system model.</p> "> Figure 3
<p>Blockchain-based architecture for decentralized LEM.</p> "> Figure 4
<p>Relationship between the supply and demand ratio and the price with compensation.</p> "> Figure 5
<p>Energy generation and demand for 24 h from a prosumer.</p> "> Figure 6
<p>(<b>a</b>) Internal Prices with Critical Peak Price (CPP) for buying and selling with demurrage and without demurrage; (<b>b</b>) internal prices with Real-Time Price (RTP) for buying and selling with demurrage and without demurrage.</p> "> Figure 7
<p>Energy demand for a single household with scheduled and unscheduled consumption.</p> "> Figure 8
<p>Net load of the prosumer.</p> "> Figure 9
<p>(<b>a</b>) Electricity cost for a single household with scheduled and unscheduled consumption using CPP; (<b>b</b>) electricity cost of scheduled, scheduled with demurrage, and unscheduled without demurrage using CPP.</p> "> Figure 9 Cont.
<p>(<b>a</b>) Electricity cost for a single household with scheduled and unscheduled consumption using CPP; (<b>b</b>) electricity cost of scheduled, scheduled with demurrage, and unscheduled without demurrage using CPP.</p> "> Figure 10
<p>(<b>a</b>) Electricity cost for a single household with scheduled and unscheduled consumption using RTP; (<b>b</b>) electricity cost of scheduled, scheduled with demurrage, and unscheduled without demurrage using RTP.</p> "> Figure 11
<p>(<b>a</b>) Comparison of total P2P cost with demurrage, total P2P and scheduled cost with demurrage, total cost scheduled without demurrage, and total unscheduled cost using CPP; (<b>b</b>) comparison of consumer cost, prosumer cost and profit, and prosumer profit using CPP.</p> "> Figure 12
<p>(<b>a</b>) Comparison of total P2P cost with demurrage, total P2P and scheduled cost with demurrage, total cost scheduled without demurrage, and total unscheduled cost using RTP; (<b>b</b>) comparison of consumer cost, prosumer cost and profit, and prosumer profit using RTP.</p> "> Figure 13
<p>Performance metric with varying number of customers participating in energy trading.</p> ">
Abstract
:1. Introduction
2. Related Work
3. Problem Statement
- an LEM using private blockchain is proposed, which considers both HEM system and demurrage mechanism simultaneously,
- a dynamic pricing mechanism is proposed for energy trading to take place. This mechanism ensures that all members participating in local energy trading gain better economic benefits. This pricing model is modified from the Supply and Demand Ratio (SDR) mechanism [32] to include demurrage value, and
- a thorough assessment is conducted in the research to evaluate the economic benefits of the buyers and sellers of locally generated energy in a residential community. Also, based on the proposed system, the potential security risks of the energy trading system are analyzed. Conclusively, a complete security protection technique is provided against these security vulnerabilities in the system.
4. Proposed System Model
4.1. Description of the System Model
4.2. Blockchain Technology and Smart Contract in LEM
4.2.1. Blockchain Technology in LEM
4.2.2. Smart Contract in LEM
Algorithm 1 Buy and sell with demurrage smart contract functions. |
Input , , , , ▹ is demurrage price computed off-chain |
Output , |
1: function BuywithDemurrage(, , , , ) |
2: if < of required energy is not enough> then |
3: terminate |
4: end if |
5: if < is within the demurrage agreed time> then |
6: update consumer’s and prosumer’s |
7: update consumer’s and prosumer’s wallet |
8: else |
9: update consumer’s and prosumer’s |
10: update consumer’s and prosumer’s wallet with |
11: end if |
12: return , |
13: end function |
1: function SellwithDemurrage(, , , , ) |
2: if < of energy to sell is not enough> then |
3: terminate |
4: end if |
5: if < is within the demurrage agreed time> then |
6: update consumer’s and prosumer’s |
7: update consumer’s and prosumer’s wallet |
8: else |
9: update consumer’s and prosumer’s |
10: update consumer’s and prosumer’s wallet with |
11: end if |
12: return , |
13: end function |
4.3. Optimization Problem
4.3.1. Appliance Categorization
4.3.2. Cost of Electricity
4.3.3. Energy Consumption
4.3.4. Load Balancing
4.3.5. Objective Function
5. Price and Cost Models
5.1. Price Model
5.2. Cost Model of Consumers and Prosumers
5.3. Self-Consumption and Self-Sufficiency
5.3.1. Self-consumption
5.3.2. Self-Sufficiency
6. Security Analysis
6.1. Vulnerability Analysis of Smart Contract
- Re-entrancy vulnerability: This type of attack happens when the same function is being called continuously over and over so that executing another function will be impossible.
- Timestamp dependence: The miners can manipulate the transaction timestamp, so it is essential to handle all use cases, which include both indirect and direct timestamps. The miners can change the block timestamp to their advantage, which manipulates the execution of the output.
- Call stack depth vulnerability: External function calls may fail at any moment whenever the calls surpass 1024’s maximum call stack. Solidity throws an exception in such scenarios. Before communicating with the contract, mischievous attackers can force a high value of the call stack.
- Transaction ordering attack: This security vulnerability can change the price during processing of transactions, as a transaction has been executed by somebody else (another user, miner, or the contract owner) that can modify the price prior to the completion of the transaction. Such an incident happens whenever the blockchain’s expected state is not the transaction’s actual state. The sequence where transactions are validated may have negative impacts on other transaction executions, as the validators can decide the transactions patterns, whereby more than one transactions can take place at a given period. These kind of bugs are identified in approximately 16% of all blockchain contracts.
- Integer underflow and overflow: Underflow and overflow happens when the value given to a variable is more than the permitted limit for that data type. It is very common for the integer data type in solidity, and all data should be carefully verified at the time of variable assignment.
- Assertion failure: If the “uint” is of higher value for a number used in traditional JavaScript, an assertion failure happens when it is not defined in quotations so that the input can indeed be read as a string and manipulated as a large number.
Oyente Tool
- to investigate all execution paths using symbolic values for all variables,
- to cross-check whether any of the properties are violated,
- to store the behavior of the smart contract in every path, and
- to summarize the conditions on the input for each path.
6.2. Security Analysis of the Overall System
7. Results and Simulations
7.1. Assessment Metrics
Simulation Setup
7.2. Results of Internal Prices
7.3. Results of Customers Cost
7.4. Feasible Region for Energy Load and Electricity Cost
7.5. Performance with Different Numbers of Customers Involved in P2P Sharing of Energy
8. Conclusions and Future Work
Author Contributions
Funding
Conflicts of Interest
Nomenclature
API | Application User Interface |
BES | Battery Energy Storage |
CDA | Continous Double Auction |
EV | Electric Vehicle |
FR | Feasible Region |
DDoS | Distributed Denial of Service |
DER | Distributed Energy Resources |
DoS | Denial of Service |
DSM | Demand Side Management |
DR | Demand Response |
HEM | Home Energy Management System |
LEM | Local Energy Market |
LV | Low Voltage |
MV | Medium Voltage |
NRES | Nonrenewable Energy Sources |
P2P | Peer-to-Peer |
PV | Photovoltaic |
RES | Renewable Energy Source |
SDN | Software-Defined Network |
SMES | Superconducting Magnetic Energy Storage |
SDR | Supply and Demand Ratio |
TOD | Transaction-Ordering Dependence |
Appliance status | |
Adjusted energy consumption | |
Compensation price | |
Cost function for customers | |
Customers energy consumption | |
Demurrage value | |
Main grid buying price at time t | |
Main grid selling price at time t | |
Minimum power generated on-site between generated and load profile | |
Net power for both customers | |
Number of prosumers in the network | |
Number of shiftable appliances | |
Number of non-shiftable appliances | |
Appliance power rating | |
Price of electric energy consumed | |
Prosumer’s buying price at t | |
Prosumer’s buying price at t with demurrage | |
Prosumer’s selling price at time t | |
Prosumer’s selling price at time t with demurrage | |
PV energy generated at ith prosumer in a time slot t | |
Set of shiftable household appliances | |
Set of non-shiftable household appliances | |
Supply and demand ratio | |
t | Time slot |
Total buying power | |
Total consumption of energy for both non-shiftable and shiftable appliances | |
Total cost for all consumers | |
Total number of appliances in smart home | |
Total selling power |
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Types of Blockchain/Techniques | Objectives | Research Achievements | Limitations |
---|---|---|---|
Public blockchain [8] | Improve local energy generation and increase interaction between prosumers and power plant | Proposed an NRGcoin model that allows locally generated renewable energy to be sold using digital currency in the smart grid | Electricity cost minimization is not considered |
Public blockchain and CDA [12] | Improve energy market design | Proposed an adaptive aggressive strategy in a microgrid using blockchain-based CDA, putting forward a new perspective on an energy market | There is an inadequate flexibility to change the bid quantity during the CDA bid process |
Stackelberg game and permissioned blockchain [15] | Maximize the bank utility credit-based loans | Proposed a secure credit-based payment scheme by reducing wait time on transaction confirmation of the energy chain for permissioned blockchain-based IIoTs | Profit and energy optimization is not considered |
Consortium blockchain and iterative double auction [16] | Improve privacy and security of the transaction and maximize social welfare | The authors proposed a PETCON model to conduct secure private P2P trading of energy between plugin hybrid electric vehicles | Electricity cost is not considered |
Public blockchain and encryption algorithms [20] | Improve privacy and security of the transaction | Provide a decentralized secure transaction in smart grid by using blockchain technology | Profit maximization is out of the scope of this research |
Public blockchain and multi-agent coalition [21] | Maximize usage of renewable energy | Proposed a system of distributed energy trading to encourage P2P sharing of electricity among prosumers | Electricity cost is not considered |
Public blockchain and smart contract [22] | Address energy demand and supply problem | A distributed approach to control DR systems in smart grid context is proposed | Speed of the transaction is not considered |
Public blockchain [23] | Improve energy trading | Proposed a decentralized, scalable, and secure blockchain-based network for coalition structure creation and microgrid energy trading | Fixing price for the trading is almost impossible |
Smart contract and public blockchain [24] | Improve energy trading | Provide an energy trading model that will facilitate a sustainable transaction of energy ecosystems among smart homes’ consumers and prosumers | Energy and profit optimizations are not considered |
Public blockchain and noncooperative game theoretic approach [25] | Decrease the peak to average ratio and smoothen the fluctuation in profile of the energy load consumption | Proposed an enhanced blockchain approach for implementing a distributed microgrid network that handled the micro-payment required along with the exchange of energy and information | Privacy has been highlighted as a major barrier to customer engagement in this research |
Public blockchain [26] | Improve energy trading | Proposed an Internet of Things (IoT) system to account for power flows as well as a blockchain platform to resolve the need for a centralized entity | Deployment efficiency is not discussed |
Public blockchain andsmart contract [27] | Improve privacy and security | A new approach for smart city network architecture is proposed. The architecture combines the benefits of blockchain technology and emerging Software-Defined Network (SDN) | There are still some issues that are left unresolved, such as memory scalability, high latency, and efficient deployment of edge nodes |
Private blockchain [30] | Minimize electricity cost in the local market | Proposed a decentralized market mechanism using a private blockchain | Selling surplus energy through auction or bidding is logically impossible |
Scheduling algorithms [31] | Electricity costminimization | Proposed an LEM by integrating DR | Privacy leakage, security concern, and single point of failure |
SDR method with compensation price [32] | Electricity cost minimization | Proposed P2P sharing of energy in a neighborhood with several PV storage systems | Privacy leakage, security concern, and single point of failure |
References | Blockchain | Demurrage Mechanism | SDR | Scheduling |
---|---|---|---|---|
Base Paper 1 [30] | ✓ | X | X | X |
Base Paper 2 [31] | X | X | X | ✓ |
Base Paper 3 [32] | X | X | ✓ | X |
Proposed Model | ✓ | ✓ | ✓ | ✓ |
Appliances Types | Name of Appliance | Time Starts (Hour) | Time Ends (Hour) | Power Rating (kW) | LoT (Hour) |
---|---|---|---|---|---|
Shiftable | Air conditioner | 12 | 24 | 1.00 | 10.00 |
Shiftable | Cloth dryer | 06 | 14 | 1.50 | 4.00 |
Shiftable | Dish washer | 08 | 22 | 1.00 | 0.50 |
Shiftable | Electric vehicle | 16 | 24 | 2.50 | 2.50 |
Shiftable | Hair dryer | 06 | 13 | 1.00 | 1.50 |
Shiftable | Iron | 06 | 16 | 1.00 | 0.50 |
Shiftable | Pool pump | 12 | 21 | 2.00 | 8.00 |
Shiftable | Refrigerator | 06 | 15 | 0.125 | 24.00 |
Shiftable | Television | 01 | 16 | 0.25 | 6.75 |
Shiftable | Vacuum cleaner | 06 | 15 | 1.00 | 0.50 |
Shiftable | Water heater | 06 | 23 | 1.50 | 3.00 |
Shiftable | Other | 06 | 24 | 1.50 | 2.00 |
Non-shiftable | Electric stove | 06 | 14 | 1.50 | 5.00 |
Non-shiftable | Heater | 03 | 15 | 1.50 | 3.00 |
Non-shiftable | Light | 16 | 24 | 0.50 | 6.25 |
Non-shiftable | Personal computer | 08 | 24 | 0.25 | 4.00 |
Parameters | Energy Transaction Contract |
---|---|
EVM Code Coverage | 42.4% |
Integer Underflow | False |
Integer Overflow | False |
Parity Multisig Bug 2 | False |
Callstack Depth Attack Vulnerability | False |
Transaction-Ordering Dependence (TOD) | False |
Timestamp Dependency | False |
Re-Entrancy Vulnerability | False |
Parameters | Value |
---|---|
0.5 | |
[10 16] | |
T | 24 |
N | 100 |
16 |
Cases | Load | Price CPP | Cost CPP | Price at Agreed Time | Cost at Agreed Time |
---|---|---|---|---|---|
Minimum load, Maximum price | 1.00 kWh | 895.00 Cents | 895.00 Cents | 60.00 Cents | 60.00 Cents |
Minimum load, Minimum price | 1.00 kWh | 11.40 Cents | 11.40 Cents | 10.40 Cents | 10.40 Cents |
Maximum load, Minimum price | 13.25 kWh | 11.40 Cents | 151.05 Cents | 10.40 Cents | 137.80 Cents |
Maximum load, Maximum price | 13.25 kWh | 895.00 Cents | 11,858.75 Cents | 60.00 Cents | 792.00 Cents |
Cases | Load | Price RTP | Cost RTP | Price at Agreed Time | Cost at Agreed Time |
---|---|---|---|---|---|
Minimum load, Maximum price | 1.00 kWh | 390.00 Cents | 390.00 Cents | 30.00 Cents | 30.00 Cents |
Minimum load, Minimum price | 1.00 kWh | 10.63 Cents | 10.63 Cents | 10.40 Cents | 10.40 Cents |
Maximum load, Minimum price | 13.25 kWh | 10.63 Cents | 140.85 Cents | 10.40 Cents | 137.80 Cents |
Maximum load, Maximum price | 13.25 kWh | 390.00 Cents | 5167.50 Cents | 30.00 Cents | 397.50 Cents |
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Share and Cite
Yahaya, A.S.; Javaid, N.; Alzahrani, F.A.; Rehman, A.; Ullah, I.; Shahid, A.; Shafiq, M. Blockchain Based Sustainable Local Energy Trading Considering Home Energy Management and Demurrage Mechanism. Sustainability 2020, 12, 3385. https://doi.org/10.3390/su12083385
Yahaya AS, Javaid N, Alzahrani FA, Rehman A, Ullah I, Shahid A, Shafiq M. Blockchain Based Sustainable Local Energy Trading Considering Home Energy Management and Demurrage Mechanism. Sustainability. 2020; 12(8):3385. https://doi.org/10.3390/su12083385
Chicago/Turabian StyleYahaya, Adamu Sani, Nadeem Javaid, Fahad A. Alzahrani, Amjad Rehman, Ibrar Ullah, Affaf Shahid, and Muhammad Shafiq. 2020. "Blockchain Based Sustainable Local Energy Trading Considering Home Energy Management and Demurrage Mechanism" Sustainability 12, no. 8: 3385. https://doi.org/10.3390/su12083385