Experiment of Execution Time in Decentralized Transaction System of Surplus PV Output using Blockchain

Abstract

In Japan, a large amount of photovoltaics has been introduced because of Feed-in Tariff for renewable energy resources. As the results, it is necessary to suppress the output of photovoltaics to maintain supply and demand balance. In the future, however, it is expected to make more effective use of renewable energy by demand-side management. This paper proposes a method to realize power trading among consumers who buy surplus electricity from photovoltaics by smart contracts on the blockchain. According to the conventional method in Japan, the transmission and distribution company, which is responsible for supply reliability, forecasts the surplus of solar power the next day, directs PV producers to suppress output. Conversely, this paper proposes that the PV producers search for customers who can carry out storing electricity and the demand shift in the local power exchange using the blockchain, in response to the output suppression command from the transmission and distribution company.