A Consortium Blockchain-Based Energy Trading for Demand Response Management in Vehicle-to-Grid

In this paper, we propose a Peer-to-Peer (P2P) energy trading scheme between EVs and the SPs to manage the demand response in V2G environment. Unlike the traditional schemes, which consists of complex energy-transportation meshes, the proposed scheme achieves a balance between demand and response by providing incentives to EVs out of their self-interests. However, the online transactions security and privacy protection of EVs poses challenges with respect to confidentiality and integrity preservation. To cope up with the issues, we design a consortium blockchain-based scheme to ensure secure energy transactions between EVs and the SPs without trusted third-party intervention. Moreover, the energy pricing and the amount of traded energy problems for demand response are solved by a double auction mechanism to maximize the social welfare. Numerical results based on a real-time implementation on a private Ethereum network having smart contract demonstrated that the auction-based mechanism achieves social welfare maximization with privacy protection of online transactions between EVs and the SPs. The results obtained show that the rate of convergence, scalability metric average latency, and standard deviation of the energy transactions have been improved by approximately 18.18%, 15%, and 28.1%, respectively in comparison to the existing schemes. Moreover, security and privacy analysis of the proposed scheme shows that it improves the transaction security substantially in comparison to the existing state-of-the-art proposals.

Automated summary

The paper proposes a blockchain-based P2P energy trading scheme that addresses energy pricing and traded energy problems for demand response through a double auction mechanism, maximizing social welfare while ensuring privacy protection. The proposed scheme improves transaction security substantially and achieves significant improvements in convergence rate, scalability metric average latency, and standard deviation of energy transactions compared to existing schemes.