A blockchain-based Peer-to-Peer renewable electricity trading solution for islanded microgrids
|Coordinator||RISE Research Institutes of Sweden AB - RISE ICT Viktoria|
|Funding from Vinnova||SEK 500 000|
|Project duration||November 2018 - November 2019|
|Venture||Banbrytande idéer inom industriell utveckling|
|Call||Banbrytande idéer inom industriell utveckling 2018|
Purpose and goal
The project aims to assess the technical and commercial potential of decentralized ICT infrastructures for islanded rural micro-grids. A solutions is needed in areas with weak institutions and low trust among energy producers and energy consumers. Despite significant attention and multiple development attempts, there still exists no working decentralized energy solution for those areas. Using a cross-disciplinary approach, the project targets two challenges thwarting earlier attempts: (a) decentralized loss estimation, and (b) decentralized real time energy trading.
Expected results and effects
The project has three expected deliverables. Firstly, it aims to clarity the technical and non-technical problems with pre-existing attempts. Secondly, it develops a solution at the intersection of three main knowledge domains: blockchains, energy systems, and policy. The third result depends on the outcome from the second part. If new challenges are discovered that hinder successful demonstration, then these challenges are detailed. If the solution works, the technical protocol is described together with other important considerations.
Planned approach and implementation
The project involves three overlapping phases, each corresponding to one of the above described results. A first diagnostics phase involves cross disciplinary meetings and discussions. These will take place before the end of the year. A second analytical and development oriented phase will map and specify the ICT needs, formulate the basis of the protocol, and detail suitable social structures that impact a solution design. A third and final phase involves the creation of concrete results depending on the previous output.