Integration of Blockchain with IEC 61850 for Internal Management of Microgrids

This paper proposes a local management approach for a microgrid (MG) which comprises a great variety of heterogeneous prosumers, connected to the main grid at a single point. The management system obtains a fair division of costs billed by the utility through the design of a local energy market within the MG. This local market relies on blockchain (BC) technology with the aim of guaranteeing the veracity and immutability of the data and automating the transactions. Likewise, the energy-related prosumer data is obtained using IEC 61850 protocol running on the BC. The veracity of the electrical parameters is, therefore, effectively guaranteed, since the prosumers do not have to introduce the data in the BC. This, in turn, makes the system compatible with any device irrespective of the manufacturer implementing the IEC 61850 standard. The purpose of this management strategy is twofold: firstly, competitive prices can be offered to the MG participants in terms of both sales and acquisitions in comparison to those set by the conventional grid utilities; and secondly the MG becomes less dependent on the grid and less unpredictable on account of the internal energy exchanges.