Integrating blockchain and microgrid technology to enable peer-to-peer energy trading: a business process model
- Authors: Higgs, James
- Date: 2022-04-06
- Subjects: Blockchains (Databases) , Peer-to-peer architecture (Computer networks) , Electric power-plants Decentralization South Africa , Microgrids (Smart power grids) South Africa , Energy trading , Business process model
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/284559 , vital:56074
- Description: Traditional centralised energy systems are coming under increasing pressure because of decarbonisation, decentralisation, and digitisation. A lack of energy security and the inability to manage bi-directional electricity flows constitute two of the biggest challenges faced by centralised systems. Furthermore, in South Africa, the country’s energy system remains monopolised with one large utility satisfying most of the country’s electricity demand. This study is motivated by the need to address energy security within such a monopolised market. To redress the problems highlighted above, this study explores how blockchain and microgrid technology can be integrated to enable decentralised energy production and trading in South Africa. As such, this study develops a fully integrated blockchain-based microgrid energy trading system model. The functional requirements of the system are presented in the form of a business process model. Amongst other benefits, an active blockchain-based microgrid energy trading system provides a means to bolster energy security for the systems’ users. A unique aspect of this study’s approach to energy trading is the utilisation of blockchain’s native tokenizing capabilities. Prosumer energy tokens are minted to create a digital currency for local peer-to-peer energy exchange. A commons-rule based approach is adopted for governing energy resources. As such, this study demonstrates that commons-based solutions provide a feasible alternative to market and profit driven trading for organizing local energy exchange. The primary deliverable of this study satisfies the request of various blockchain researchers for blockchain research to focus on holistic conceptualisations, rather than on the minutiae of blockchain technicalities. Eight core functional requirements of a blockchain energy trading system were identified prior to the construction of the process model. The functional requirements were elicited during a scoping review as a part of the secondary data collection process. Expert review was utilised to verify the functional requirements of the blockchain energy trading system. Once the experts were identified, each expert completed a questionnaire with the intention to verify the requirements. The above process constituted the expert review process for the study. Additionally, the syntactic correctness of the business process model was verified by a business process modelling expert. Weber’s Theory of Evaluation constitutes the theoretical underpinning for the evaluation of the system parts. This study contributes the first publicly accessible business process models of a blockchain-based microgrid energy trading system. This study seeks to advance the discussion of a more integrative and cross disciplinary approach concerning blockchain research, particularly as it pertains to microgrid energy trading. , Thesis (MCom) -- Faculty of Commerce, Department of Information Systems, 2022
- Full Text:
- Date Issued: 2022-04-06
- Authors: Higgs, James
- Date: 2022-04-06
- Subjects: Blockchains (Databases) , Peer-to-peer architecture (Computer networks) , Electric power-plants Decentralization South Africa , Microgrids (Smart power grids) South Africa , Energy trading , Business process model
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/284559 , vital:56074
- Description: Traditional centralised energy systems are coming under increasing pressure because of decarbonisation, decentralisation, and digitisation. A lack of energy security and the inability to manage bi-directional electricity flows constitute two of the biggest challenges faced by centralised systems. Furthermore, in South Africa, the country’s energy system remains monopolised with one large utility satisfying most of the country’s electricity demand. This study is motivated by the need to address energy security within such a monopolised market. To redress the problems highlighted above, this study explores how blockchain and microgrid technology can be integrated to enable decentralised energy production and trading in South Africa. As such, this study develops a fully integrated blockchain-based microgrid energy trading system model. The functional requirements of the system are presented in the form of a business process model. Amongst other benefits, an active blockchain-based microgrid energy trading system provides a means to bolster energy security for the systems’ users. A unique aspect of this study’s approach to energy trading is the utilisation of blockchain’s native tokenizing capabilities. Prosumer energy tokens are minted to create a digital currency for local peer-to-peer energy exchange. A commons-rule based approach is adopted for governing energy resources. As such, this study demonstrates that commons-based solutions provide a feasible alternative to market and profit driven trading for organizing local energy exchange. The primary deliverable of this study satisfies the request of various blockchain researchers for blockchain research to focus on holistic conceptualisations, rather than on the minutiae of blockchain technicalities. Eight core functional requirements of a blockchain energy trading system were identified prior to the construction of the process model. The functional requirements were elicited during a scoping review as a part of the secondary data collection process. Expert review was utilised to verify the functional requirements of the blockchain energy trading system. Once the experts were identified, each expert completed a questionnaire with the intention to verify the requirements. The above process constituted the expert review process for the study. Additionally, the syntactic correctness of the business process model was verified by a business process modelling expert. Weber’s Theory of Evaluation constitutes the theoretical underpinning for the evaluation of the system parts. This study contributes the first publicly accessible business process models of a blockchain-based microgrid energy trading system. This study seeks to advance the discussion of a more integrative and cross disciplinary approach concerning blockchain research, particularly as it pertains to microgrid energy trading. , Thesis (MCom) -- Faculty of Commerce, Department of Information Systems, 2022
- Full Text:
- Date Issued: 2022-04-06
Peer-to-peer energy trading system using IoT and a low-computation blockchain network
- Authors: Ncube, Tyron
- Date: 2021-10-29
- Subjects: Blockchains (Databases) , Internet of things , Renewable energy sources , Smart power grids , Peer-to-peer architecture (Computer networks) , Energy trading system
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/192119 , vital:45197
- Description: The use of renewable energy is increasing every year as it is seen as a viable and sustain- able long-term alternative to fossil-based sources of power. Emerging technologies are being merged with existing renewable energy systems to address some of the challenges associated with renewable energy, such as reliability and limited storage facilities for the generated energy. The Internet of Things (IoT) has made it possible for consumers to make money by selling off excess energy back to the utility company through smart grids that allow bi-directional communication between the consumer and the utility company. The major drawback of this is that the utility company still plays a central role in this setup as they are the only buyer of this excess energy generated from renewable energy sources. This research intends to use blockchain technology by leveraging its decentralized architecture to enable other individuals to be able to purchase this excess energy. Blockchain technology is first explained in detail, and its main features, such as consensus mechanisms, are examined. This evaluation of blockchain technology gives rise to some design questions that are taken into consideration to create a low-energy, low-computation Ethereum-based blockchain network that is the foundation for a peer-to-peer energy trading system. The peer-to-peer energy trading system makes use of smart meters to collect data about energy usage and gives users a web-based interface where they can transact with each other. A smart contract is also designed to facilitate payments for transactions. Lastly, the system is tested by carrying out transactions and transferring energy from one node in the system to another. , Thesis (MSc) -- Faculty of Science, Computer Science, 2021
- Full Text:
- Date Issued: 2021-10-29
- Authors: Ncube, Tyron
- Date: 2021-10-29
- Subjects: Blockchains (Databases) , Internet of things , Renewable energy sources , Smart power grids , Peer-to-peer architecture (Computer networks) , Energy trading system
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/192119 , vital:45197
- Description: The use of renewable energy is increasing every year as it is seen as a viable and sustain- able long-term alternative to fossil-based sources of power. Emerging technologies are being merged with existing renewable energy systems to address some of the challenges associated with renewable energy, such as reliability and limited storage facilities for the generated energy. The Internet of Things (IoT) has made it possible for consumers to make money by selling off excess energy back to the utility company through smart grids that allow bi-directional communication between the consumer and the utility company. The major drawback of this is that the utility company still plays a central role in this setup as they are the only buyer of this excess energy generated from renewable energy sources. This research intends to use blockchain technology by leveraging its decentralized architecture to enable other individuals to be able to purchase this excess energy. Blockchain technology is first explained in detail, and its main features, such as consensus mechanisms, are examined. This evaluation of blockchain technology gives rise to some design questions that are taken into consideration to create a low-energy, low-computation Ethereum-based blockchain network that is the foundation for a peer-to-peer energy trading system. The peer-to-peer energy trading system makes use of smart meters to collect data about energy usage and gives users a web-based interface where they can transact with each other. A smart contract is also designed to facilitate payments for transactions. Lastly, the system is tested by carrying out transactions and transferring energy from one node in the system to another. , Thesis (MSc) -- Faculty of Science, Computer Science, 2021
- Full Text:
- Date Issued: 2021-10-29
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