Blockchain in decentralized demand-side control of microgrids

In this chapter, the use of decentralized blockchain mechanisms are examined for delivering transparent, secure, reliable, and timely energy flexibility, under the form of adaptation of energy demand profiles of professional consumer of distributed energy resources, to all the stakeholders involved in the flexibility markets. In this technique, the power presumption data is manipulated by a blockchain-based
istributed ledger records. The data gather intelligent metering equipment from the Internet of Things, while self-enforcing smart contracts identify pro-grammatically the anticipated energy flexibility at the level of each prosumer, the related benefits or penalties, and the regulations for balancing energy demand with grid-level energy production. Consensus-based validation will be used to validate demand response programs and to enable the flexibility providers ' suitable economic settlement. The method was validated using a prototype of several structures from literature information sets. The results demonstrate that the blockchain-based distributed demand-side management is capable to match energy demand and generation at smart grid level, the demand response indicator being tracked with high precision, while the amount of energy flexibility needed for merging is decreased.