A Blockchain-Based Real-Time Power Balancing Service for Trustless Renewable Energy Grids

Abstract

We face a decentralized renewable energy production scenario, where a large number of small energy producers, i.e., prosumers, contribute to a common distributor entity, who resells energy directly to end-users. A major challenge for the distributor is to ensure power stability, constantly balancing produced vs consumed energy flows. In this context, being able to provide quick restore actions in response to unpredictable unbalancing events is a must, as fluctuations are the norm for renewable energy sources. To this aim, the high scalability and diversity of sources are crucial requirements for the said balancing to be actually manageable. In this study, we explored the challenges and benefits of adopting a blockchain-based software architecture as a scalable, trustless interaction platform between prosumers’ smart energy meters and the distributor. Our developed prototype accomplishes the energy load balancing service via smart contracts deployed in a real blockchain network with an increasing number of simulated prosumers. We show that the blockchain-based application managed to react in a timely manner to energy unbalances for up to a few hundred prosumers.