Weiqi Hua
A Blockchain-Based Peer-to-Peer Trading Scheme Coupling Energy and Carbon Markets
Hua, Weiqi; Sun, Hongjian
Abstract
Climate change enforces the integration of distributed renewable energy sources and development of carbon price scheme. Whilst the energy is traded among distributed prosumers, the carbon responsibilities and corresponding allowances trading need to be transferred from large-scale energy suppliers to prosumers. During this transformation, the issues of energy imbalance, carbon reduction imbalance, and residential privacy leakage in centralised trading market present serious challenges. In this paper, we propose a fully decentralised blockchain-based peer-to-peer trading scheme coupling energy and carbon markets. We implement pay-to-public-key-hash with multiple signatures as a transaction standard to realise a more secure transaction and reduced storage burden of senders. A script is hashed during the wallet address generation for each new transaction to protect residential privacy. A novel carbon accounting method and corresponding incentive mechanism for carbon reduction are designed to evaluate emission behaviours of distributed prosumers. Case studies demonstrate that the proposed scheme leads a reduced costs and carbon emissions compared to centralised trading systems and existing blockchain-based trading schemes.
Citation
Hua, W., & Sun, H. (2019). A Blockchain-Based Peer-to-Peer Trading Scheme Coupling Energy and Carbon Markets. In 2019 International Conference on Smart Energy Systems and Technologies (SEST) ; proceedings. https://doi.org/10.1109/sest.2019.8849111
Conference Name | 2019 International Conference on Smart Energy Systems and Technologies (SEST). |
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Conference Location | Porto, Portugal. |
Start Date | Sep 9, 2019 |
End Date | Sep 11, 2019 |
Acceptance Date | Jun 17, 2019 |
Publication Date | Jan 1, 2019 |
Deposit Date | Jun 28, 2019 |
Publicly Available Date | Mar 29, 2024 |
Publisher | Institute of Electrical and Electronics Engineers |
Book Title | 2019 International Conference on Smart Energy Systems and Technologies (SEST) ; proceedings. |
DOI | https://doi.org/10.1109/sest.2019.8849111 |
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© 2019 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
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