EnergyCoin Foundation joins research project University Utrecht: store peer-to-peer energy transactions on the EnergyCoin blockchain

On 1st of December the B-DER project has started. EnergyCoin Foundation is a partner in the research project together with Utrecht University
and Resourcefully. We are going to build a framework for
smart flexible energy infrastructure: a blockchain-based platform for peer-to-peer energy transactions between Distributed Energy Resources.

The energy production landscape is being reshaped by distributed energy
resources (DER), such as solar panels, electric vehicles and charging
stations. The rapid deployment of these distributed energy resources calls
for management schemes of these resources to guarantee grid reliability in
the future. Proposed control schemes, such as demand response, assume
that the operation of DER will be centrally managed by an aggregator or a
cooperative utility. However, these centralized control schemes suffer from
scalability issues when the number of DER increase significantly. In
addition, it is unclear how these management systems work in the face of
incentive issues or regulatory shortcomings.

Goal

This project will develop a platform to enable peer-to-peer energy
transactions between DER, allowing households, with energy generation
capabilities, to trade energy with each other. Besides trade can also involve
other DER in the neighbourhood, such as EV charging stations, in a
distributed, optimal, verifiable and secure fashion. To achieve this mission,
the project partners develop an optimization algorithm that allows
households to minimize their electricity cost and maximize benefits from
their PV system while at the same time ensuring a profitable charging price
for EV charging stations owners.

To enable secure and verifiable energy transactions between entities, we
will implement the optimization algorithm on a blockchain architecture.
The project assesses the technical and economic potential of the developed
platform using actual data of households’ demand and PV generation
profiles, as well as EV charging stations demand in a residential
neighborhood in Amsterdam. The assessment will be analyzed for different
penetration levels of DER currently and in the future and under different
electricity pricing and support schemes.

The EnergyCoin Foundation will share their experience on blockchain
technique, cryptocurrencies, local climate policy and climate
communication.

Contact us!

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Sincerely,

The EnergyCoin Foundation