A Renewable Energy Certificate Trading System Based on Blockchain

I participated in this project during my internship at State Grid Blockchain Technology (Beijing) Co., LTD. We designed an energy trading system on blockchain.

Abstract

At present, the cumbersome issuing process of renewable energy certificate (REC) and inflexible pricing mechanism consume a lot of manpower and material resources. In order to solve this problem, this paper proposes a hybrid REC trading system based on Consortium Blockchain. The paper introduces the operation mode of the system in detail and changes the view replacement protocol in the Practical Byzantine Fault Tolerance (PBFT) Algorithm to improve the stability of the system. It also introduces the bidding rules of Continuous Double Auction (CDA) used in the system, and designs the bidding strategies to maximize the user’s profit and the success rate of transaction. Finally, ARIMA model is also used to forecast the price of RECs to provide guidance for both buyers and sellers.

• Index Terms
  REC transaction, Consortium Blockchain, Continuous Double Auction, ARIMA

Link
Accepted by TrustCom 2021: International Conference on Trust, Security and Privacy in Computing and Communications, Jul.2021.