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Real World P2P Energy Trading on Blockchains EXPLAINED

  Рет қаралды 14,324

HERO Energy & Engineering

HERO Energy & Engineering

4 жыл бұрын

A video that demonstrates real-world results from a blockchain-based, transactive energy implementation at a microgrid in Canada. Check out the video to learn how Peer to Peer energy trading can be implemented on blockchain technology, and used to reduce peak demand, increase the utilization of renewable energy, and save electric utilities millions of dollars in avoiding upgrades to the grid. Special thanks to the LDC Tomorrow Fund and Natural Resources Canada (NRCAN) for funding this research!
Made with the support of the LDC Tomorrow Fund and NRCAN!
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Link to paper that was published: www.researchgate.net/publicat...
Contact us!
Shivam Saxena: shivam@heroeng.ca
Hany Farag: hefarag@eecs.yorku.ca
Aidan Brookson: aidanbrookson@voltaresearch.org
Leigh St. Hilaire: leighsthilaire@voltaresearch.org
Henry Kim: hkim@schulich.yorku.ca
Gil Amdurski: Gil.Amdurski@trca.ca

Пікірлер: 40
@muhammadawais581
@muhammadawais581 4 ай бұрын
amazing results I am going to read the article now to further understand the concept.
@mourssijouini7493
@mourssijouini7493 3 жыл бұрын
How is it possible that you have only 500 view ?! That’s the future ! Period !
@HeroEngineering
@HeroEngineering 3 жыл бұрын
Thanks for the kind words! Hoping the views catch up!
@tanvi471
@tanvi471 3 ай бұрын
This is awesome. Love it! 3 years later. Any success with this great idea?
@ShwetaDixit
@ShwetaDixit 4 жыл бұрын
Really interesting!
@HeroEngineering
@HeroEngineering 4 жыл бұрын
Glad you think so!
@mdabusayed5710
@mdabusayed5710 3 жыл бұрын
really informative and eye-opening... Thank you #shivam
@HeroEngineering
@HeroEngineering 3 жыл бұрын
Thanks! Appreciate your kind words.
@jschenkyou
@jschenkyou 11 ай бұрын
What are your honest thoughts on POWR? I'd imagine you have looked hard at this project...
@dougskinz
@dougskinz 3 жыл бұрын
very neat. What blockchain tech did you employ for this?
@HeroEngineering
@HeroEngineering 3 жыл бұрын
thanks @dougskinz! We used Hyperledger Fabric to implement the blockchain layer. Started with Hyperledger Composer in the demo for prototyping, then we moved onto a proper Fabric implementation.
@jagankrish2664
@jagankrish2664 2 ай бұрын
Hi sir, im research scholar in a university want to do research on Blockchain based smart grid and energy trading, can u please guide me how to integrate BC with smart grid and on what platform we need to implement it how to get results please help 😢
@anaya7700
@anaya7700 3 жыл бұрын
Hello I need to do research work on this in my academics What type of thesis work could be done on this ? need guidance
@HeroEngineering
@HeroEngineering 3 жыл бұрын
Hello! Thanks for the question ... there are plenty of research topics that could be associated with this work. Where do your interests lie? Here are some open challenges that we encounter when trying to develop and deploy these systems: 1) Energy policy and regulatory frameworks: P2P energy trading is technically not allowed in many jurisdictions. A detailed analysis of what policies need to be changed, and how, would be a valuable research contribution. 2) Incentives for providing grid services: If P2P energy trading is reducing peak demand, shouldn't peers be compensated for this service to the grid? How should the rate-design be? What factors influence this? Is it feasible for the local electric utility? 3) Bidding strategies for the DERs: An analysis for bidding strategies in these markets would be helpful to realize more realistic deployments of the overall model. Which strategies affect cost and peak demand the most? 4) Community to community energy trading: We only considered one community, but this can be done throughout the distribution system from one community to the next. What are the benefits of such an approach.
@anaya7700
@anaya7700 3 жыл бұрын
@@HeroEngineering research area blockchain-based energy trading platform what should be the direction and challenges in it
@HeroEngineering
@HeroEngineering Жыл бұрын
@@anaya7700 I think above there are many directions outlined you could pursue - good luck!
@sarahebal4391
@sarahebal4391 Жыл бұрын
Thank you for the video, sir what is the name of the simulation tool you have used?
@HeroEngineering
@HeroEngineering Жыл бұрын
Thanks for watching! For the blockchain aspect, we've used Hyperledger Composer for this video - although we've now changed that to the enterprise Hyperledger Fabric. For control, we use our DER management system, called Hero DERMS, or Harmonize.
@sarahebal4391
@sarahebal4391 Жыл бұрын
@@HeroEngineering Thank you very much can I have your mail, please? I have some questions about P2P energy trading and thanks in advance
@HeroEngineering
@HeroEngineering Жыл бұрын
Sure. Please email shivam@heroeng.ca
@VikasSharma-pm3jj
@VikasSharma-pm3jj 3 жыл бұрын
I'm agrivoltaic startup in India and want same kind of model for farmers with thier power demands especially in post and pre harvest season. In average 1000 acre farm in Australia spend 80k to 200k for diesel. let's have a conversation
@HeroEngineering
@HeroEngineering 3 жыл бұрын
Sure vikas... our email address is info@heroeng.ca
@mirahissa5371
@mirahissa5371 Жыл бұрын
@@HeroEngineering s
@anjalpatel3803
@anjalpatel3803 2 жыл бұрын
I want to implement this idea in India how can i do that, can you help me?
@HeroEngineering
@HeroEngineering 2 жыл бұрын
Hey Anjal! You can start by developing a simulation on your computer. Here are a couple of links we've published that might help. ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=9311198 arxiv.org/ftp/arxiv/papers/1907/1907.12370.pdf
@kongrtihkomasatid8100
@kongrtihkomasatid8100 3 жыл бұрын
Could you please teach me about the dash borad ? :)
@HeroEngineering
@HeroEngineering 3 жыл бұрын
Sure! What would you like to know?
@FaisalJamilFactor
@FaisalJamilFactor 3 жыл бұрын
​@@HeroEngineering Hello is that dashboard is opensource ? If yes can you please send me the link of data and resources.
@eastern8503
@eastern8503 3 жыл бұрын
How can you send electricity or buy or sell
@HeroEngineering
@HeroEngineering 3 жыл бұрын
Good question! We can't control exactly where the electricity goes - the electrons simply flow where there is demand and get consumed by the load. What we can do, virtually, is to set up an energy marketplace where your electricity is worth a certain value, and you can sell that electricity within that marketplace in discrete time intervals. So it works similar to the stock market .... you tell your controller what you feel your electricity is worth on the buying side, maybe you set some preferences for it be solar. On the sellers side, they set their value ... and every market interval, an algorithm matches these buyers and sellers up and executes the transactions. The physical electrons, or electricity, is governed only by its magnitude, not by its direction.
@HeroEngineering
@HeroEngineering 3 жыл бұрын
here's a paper that talks about it in detail :) ieeexplore.ieee.org/stamp/stamp.jsp?tp=&arnumber=9311198
@spillando
@spillando 3 жыл бұрын
@@HeroEngineering Hi, Fascinating topic! I did subscribe to your youtube channel. I have a question: Who is in charge of running the algorithm to match the buyers and sellers? Is it solved with some distributed algorithms through blockchain? If so, can you please provide some references that clarify the algorithm for me?
@HeroEngineering
@HeroEngineering 3 жыл бұрын
@@spillando thanks so much for subscribing! Great questions: 1) The algorithm to match buyers and sellers we've used is the double auction mechanism, and it's executed on the blockchain by implementing it as a smart contract. 2) A reference to the algorithm, and its implementation as a smart contract, can be found in our paper here: ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=9311198 Good luck!
@spillando
@spillando 3 жыл бұрын
@@HeroEngineering Great, Thanks! I'll go through the paper and most probably contact you later if you have time. Best,
@freelifestyle4470
@freelifestyle4470 Жыл бұрын
Hello. How can I get in contact with your team?
@HeroEngineering
@HeroEngineering Жыл бұрын
Please email info@heroeng.ca
@freelifestyle4470
@freelifestyle4470 Жыл бұрын
@@HeroEngineering can you answer?
@gilyjayaram167
@gilyjayaram167 6 ай бұрын
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