Distributed Energy Resources (DERs) are small-scale power generation or storage technologies located close to end users. They include solar panels, wind turbines, battery storage, and demand response systems. DERs enhance grid resilience, reduce reliance on centralized power plants, and support renewable energy integration by enabling localized energy production and consumption.

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Decentralized Transactive Energy Auctions with Bandit Learning

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The power systems worldwide have been embracing the rapid growth of distributed energy resources. Commonly, distributed energy resources exist in the distribution level, such as electric vehicles, rooftop photovoltaic panels, and home battery systems, which cannot be controlled by a centralized entity like a utility. However, a large number of distributed energy resources have potential to reshape the power generation landscape when the owners (prosumers) are allowed to send electricity back to the grids. Transactive energy paradigms are emerging for orchestrating the coordination of prosumers and consumers by enabling the exchange of energy among them. In this paper, we propose a transactive energy auction framework based on blockchain technology for creating trustworthy and transparent transactive environments in distribution networks, which does not rely on a centralized entity to clear transactions. Moreover, we propose intelligent decentralized decision-making strategies by bandit learning for market participants to locally decide their energy prices in auctions. The bandit learning approach can provide market participants with more benefits under the blockchain framework than trading energy with the centralized entity, which is further supported by the preliminary simulated results conducted over our blockchain-based platform.

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Transactive Energy Management with Blockchain Smart Contracts for P2P Multi-Settlement Markets

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Integration of renewables and energy storage, leading to rise of prosumers, has created localized bidirectional flows. As the result, the utility demand has decreased and traditional centralized controller can no longer realize the optimal performance of ever growing distribution systems. To achieve scalable control, exploiting the potential of smart loads and Distributed Energy Resource (DER) controllability, a framework for decentralized Peer-To-Peer (P2P) energy management has been developed to manage localized micro-energy markets. Such decentralized management approach could, in theory, sustain diverse prosumer and utility business models. We have been developing an autonomous decentralized management solution that maximizes the benefit of prosumers while protecting utility assets. This P2P energy trading market leverages Blockchain technology and its Smart Contract framework. This paper presents 1) transactive energy market for P2P multi-settlement markets, 2) architecture of blockchain-based energy management system, 3) smart contract design that solves an economic dispatch problem of DERs to maximize the profit of pro/consumers.

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