Blockchain Technology for Electricity Market in Microgrid

The problem is discussed that large grid fluctuation caused by distributed generation integration, pointing out that the microgrid power local consumption is a solution to this problem. However, power transaction volume of electricity in microgrid is not large, while management has not simplified, and labor cost is high. The introduction of power market can solve local consumption problem of microgrid. Using blockchain technology can simplify the management of microgrid power transactions and realize peer-to-peer power transaction. Microgrid dispatch centers can also be simplified. The purpose of this paper is to explore applications of blockchain technology related to electricity market on microgrid and to present a framework how blockchain is employed to facilitate peer-to-peer electricity sales in microgrid.