Peer-to-Peer Energy Trading in Smart Grid Through Blockchain: A Double Auction-Based Game Theoretic Approachopen access
- Authors
- Doan, Hien Thanh; Cho, Jeongho; Kim, Daehee
- Issue Date
- 2021
- Publisher
- Institute of Electrical and Electronics Engineers Inc.
- Keywords
- Blockchain; Games; Peer-to-peer computing; Smart grids; Privacy; Microgrids; Energy consumption; Energy trading; peer-to-peer; demand response (DR); real-time market; Stackelberg game; blockchain
- Citation
- IEEE Access, v.9, pp 49206 - 49218
- Pages
- 13
- Journal Title
- IEEE Access
- Volume
- 9
- Start Page
- 49206
- End Page
- 49218
- URI
- https://scholarworks.bwise.kr/sch/handle/2021.sw.sch/2195
- DOI
- 10.1109/ACCESS.2021.3068730
- ISSN
- 2169-3536
- Abstract
- In a smart grid, each residential unit with renewable energy sources can trade energy with others for profit. Buyers with insufficient energy meet their demand by buying the required energy from other houses with surplus energy. However, they will not be willing to engage in the trade if it is not beneficial. With the aim of improving participants' profits and reducing the impacts on the grid, we study a peer-to-peer (P2P) energy trading system among prosumers using a double auction-based game theoretic approach, where the buyer adjusts the amount of energy to buy according to varying electricity price in order to maximize benefit, the auctioneer controls the game, and the seller does not participate in the game but finally achieves the maximum social welfare. The proposed method not only benefits the participants but also hides their information, such as their bids and asks, for privacy. We further study individual rationality and incentive compatibility properties in the proposed method's auction process at the game's unique Stackelberg equilibrium. For practical applicability, we implement our proposed energy trading system using blockchain technology to show the feasibility of real-time P2P trading. Finally, simulation results under different scenarios demonstrate the effectiveness of the proposed method.
- Files in This Item
- There are no files associated with this item.
- Appears in
Collections - SCH Media Labs > Department of Internet of Things > 1. Journal Articles
- College of Engineering > Department of Electrical Engineering > 1. Journal Articles
![qrcode](https://api.qrserver.com/v1/create-qr-code/?size=55x55&data=https://scholarworks.bwise.kr/sch/handle/2021.sw.sch/2195)
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.