An Implementation of a Socially Adaptive Blockchain-Based Transactive Energy System

Rapid growth of renewable resources (DERs) requires transactive energy as a key player in distribution network operations and energy management. Conventional centralized approaches can't handle the effective bidirectional sharing of information and energy within the local distribution network. Local balancing difficulties include using renewable resources efficiently, reducing energy costs regionally and nationally, and increasing prosumer financial rewards. This paper focuses on blockchain solutions for diverse stakeholders to actively participate in energy management and trade, followed by a blockchain use case implementation. The necessity for the cooperation of smart homes/buildings with renewable resources and shiftable loads through intelligent energy management systems (IEMS) is also covered in this paper. The overall conclusion and case study results suggest that this blockchain-based transactive energy platform is practicable in practice and helps improve the financial benefit of individual prosumers, which assures socially optimal distribution system performance.