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Integration Of Smart Grid And Blockchain

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posted on 22.06.2021, 03:36 by Kartikey GargKartikey Garg

A majority of electricity consumed by humans comes from traditional power generators, that work on a centralised framework, distributing it through wires and grids. More than 80% of this electricity comes from fossil fuels, leading to large amounts of pollution, since it is carbon intensive. The distribution methods are inefficient as much energy is lost in transmission. This leads to it being expensive for the consumer, and makes them dependent on large corporations. A large percentage of the electricity bill goes towards paying off the investment in infrastructure needed to provide it. This model is clearly not sustainable. Furthermore, it is estimated that around 1.2 billion people live without access to safe electricity. This is primarily since electricity providers don’t deem building infrastructure for a remote or economically backward location as profitable enough, since they are unlikely to pay it back. Contrary to conventional system, our proposed framework will be focused at introducing the decentralised energy distribution and consumption using Blockchain. Many prior studies have been done to decentralise the energy distribution but due to security and trust scare the systems could not be fully adopted in the real setting. We take a look into the methodologies third parties can use to counter the security issues as well. However, by integrating blockchain into the existing smart grid architecture we open up the possibility of bypassing the tiring process of renewable certification, make a localised energy production a reality and detach the consumers from the dependency of central grid. To fully assimilate this environment with the end users we also discuss about the real time platform for prosumers and consumers to trade energy. At the end, we look at the costs, consumption and other attributes of three different community microgrids simu

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Email Address of Submitting Author

kg604@snu.edu.in

Submitting Author's Institution

Shiv Nadar University

Submitting Author's Country

India

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