A Blockchain-Based Smartgrid Monitoring, Protection, And Electricity Trading Scheme

Abstract

The electricity demand is at its highest peak with the rapid growth of modernization. To mitigate the ever-increasing demand for electricity, microgrid becomes quite popular in recent days. In nature, the traditional power market is unidirectional, i.e. power plants provide the consumers with electricity that contributes to centralization and monopoly. With the emergence of prosumers, microgrid is popular with its bidirectional configuration of energy supply. But the challenges also arise in terms of microgrid monitoring and trading mechanism. Furthermore, the traditional model of microgrid becomes vulnerable prey to cyber-attack. Incorporating blockchain can address all those challenges with minimal effort. Blockchain is an immutable, secure data management technology that is decentralized in nature. This thesis presents a triple-layered blockchain model constructed for real-time microgrid monitoring. A blockchain-enabled differential protection system is also designed for virtual protection of the grid in the event of physical relay failure. The protection model also prevents false data injection and cyber threats to the microgrid. To facilitate trade between prosumers, algorithms are designed to form coalitions and negotiate electricity trading. We have created a three-layered blockchain using Python. Also, we have designed a simulink model for blockchain-enabled monitoring and protection scheme using MATLAB. Our proposed thesis work (Smartgrid) itself is an application. It can not only implement on Smartgrid but also implement on Microgrid, low voltage DC Grid and all types of Power Grid.