Fostering Energy Transition in Smart Cities: DLTs for Peer-to-Peer Electricity Trading

Mehdi Montakhabi, Shenja van der Graaf, Akash Madhusudan, Roozbeh Sarenche, Mustafa A. Mustafa

Research output: Chapter in Book/Report/Conference proceedingConference paperResearch

Abstract

This paper explores the applications of Distributed Ledger Technologies (DLTs) in Peer-to-Peer (P2P) electricity trading. It highlights the challenges and trade-offs of applying three different DLTs: Blockchain, Directed Acyclic Graph (DAG), and Holochain. First, the study introduces the energy transition concept in the smart city context. Second, P2P electricity trading and its supporting trading mechanisms are introduced. Third, DLTs are defined and three different types of DLTs are introduced. Forth, possibilities, challenges, and consequences of applying DLTs in electricity trading are explained. Last, applying DLTs for P2P electricity trading from different aspects are discussed. This paper provides a benchmark for applying DLTs to foster energy transition in smart cities. It highlights how this type of technology can serve smart circular economy.
Original languageEnglish
Title of host publication3rd IEEE International Workshop on Smart Circular Economy in conjunction with the 17th IEEE International Conference on Distributed Computing in Sensor Systems IEEE DCOSS
Publication statusAccepted/In press - 16 Jun 2021
Event3rd IEEE International Workshop on Smart Circular Economy: In conjunction with the 17th IEEE International Conference on Distributed Computing in Sensor Systems IEEE DCOSS -
Duration: 14 Jul 202116 Jul 2021
https://sites.google.com/view/smace2021/call-for-papers?authuser=0

Conference

Conference3rd IEEE International Workshop on Smart Circular Economy
Abbreviated titleSmaCE 2021
Period14/07/2116/07/21
Internet address

Keywords

  • Smart cities
  • DLT
  • Blockchain
  • Energy transition
  • Peer-to-peer energy trading
  • Ecosystem
  • Token economy

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