Power grids are undergoing major changes due to rapid growth in renewable energy and improvements in battery technology. Prompted by the increasing complexity of power systems, decentralized IoT solutions are emerging, which arrange local communities into transactive microgrids. The core functionality of these solutions is to provide mechanisms for matching producers with consumers while ensuring system safety. However, there are multiple challenges that these solutions still face: privacy, trust, and resilience. The privacy challenge arises because the time series of production and consumption data for each participant is sensitive and may be used to infer personal information. Trust is an issue because a producer or consumer can renege on the promised energy transfer. Providing resilience is challenging due to the possibility of failures in the infrastructure that is required to support these market based solutions. In this paper, we develop a rigorous solution for transactive microgrids that addresses all three challenges by providing an innovative combination of MILP solvers, smart contracts, and publish-subscribe middleware within a framework of a novel distributed application platform, called Resilient Information Architecture Platform for Smart Grid. Towards this purpose, we describe the key architectural concepts, including fault tolerance, and show the trade-off between market efficiency and resource requirements.
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Blockchains for Transactive Energy Systems: Opportunities, Challenges, and Approaches
The emergence of blockchains and smart contracts have renewed interest in electrical cyber-physical systems, especially in the area of transactive energy systems. However, despite recent advances, there remain significant challenges that impede the practical adoption of blockchains in transactive energy systems, which include implementing complex market mechanisms in smart contracts, ensuring safety of the power system, and protecting residential consumers’ privacy. To address these challenges, we present TRANSAX, a blockchain-based transactive energy system that provides an efficient, safe, and privacy-preserving market built on smart contracts. Implementation and deployment of TRANSAX in a verifiably correct and efficient way is based on VeriSolid, a framework for the correct-by-construction development of smart contracts, and RIAPS, a middleware for resilient distributed power systems
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- NSF-PAR ID:
- 10187031
- Date Published:
- Journal Name:
- Computer
- ISSN:
- 0018-9162
- Format(s):
- Medium: X
- Sponsoring Org:
- National Science Foundation
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- Free Publicly Accessible Full Text
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Accepted Manuscript1.0
- Journal Article:
- https://doi.org/10.1109/MC.2020.3002997
