Microgrid Analysis in a Peer-To-Peer Power Marketplace-based Blockchain

The enhancement of microgrid functionality can be elevated by integrating distributed generation and battery storage. Moreover, the inclusion of smart meters allows Distributed Energy Resources (DER) to be intelligently controlled through digital platforms. Accordingly, traditional power users have transitioned into co-creators. The advent of peer-To-peer (P2P) intra-Transactions introduces an innovative way for power exchange in community microgrid systems, made possible by the expansion and digitization of infrastructure of power distribution. Blockchain technology finds application in promoting P2P power exchange among proprietors of Renewable Energy Sources (RES), co-creators, and consumers. The current study aims to extend the P2P prototype, developing an autonomous societal microgrid structure meant for energy investment. This proposed system will use blockchain technology to simulate a distributed microgrid power market, integrating P2P power exchanges and a backup battery. The determination of the price in the microgrid's P2P market in influenced by how clients respond to price fluctuations. This approach impels both co-creators and consumers to modify their load profiles, which contributes to the responsible and dynamic nature of the microgrid's ecosystem. The framework of the P2P market also includes Cosmos, a cryptocurrency that one mines and distributes using blockchain. According to the findings, end-users experience energy savings, independences and money other advantages due to the merger of automated P2P transactions and multipurpose storage capabilities. The suggested system creates a sustainable microgrid energy market model and outlines a framework for integrating blockchain technology into existing energy structures using a holistic approach.