Blockchain-enabled Local Market for Sharing Storage in Energy Communities

This paper proposes a blockchain-based local market mechanism to allocate physical storage rights (PSRs). The proposed blockchain framework serves as the ideal platform to support the market operation and settle the payments among the market participants. As a market product, PSRs are provided by the storage owners, who are solely profiting by selling the PSRs, and enable the local market participants (including arbitrageurs, renewable producers, consumers and prosumers) to access the storage. That is, they can book storage in the form of PSRs and dispatch it at a given time aiming to maximize their utility function. Numerical results from case studies show the economic benefits of storage participation in the energy community, demonstrating at the same time the benefits of the proposed PSR allocation mechanism for both the system and the individual market participants.