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dc.contributor.authorMishra, Sambeet
dc.contributor.authorJohn Crasta, Cletus
dc.contributor.authorBordin, Chiara
dc.contributor.authorMateo‐Fornés, Jordi
dc.date.accessioned2022-08-22T08:51:12Z
dc.date.available2022-08-22T08:51:12Z
dc.date.issued2021-10-22
dc.description.abstractEnergy as a service (EaaS) is an emerging business model that enables the otherwise passive energy consumers to play an active role and participate in the energy utility services. This platform is formed through smart contracts registering peer-to-peer (P2P) transactions of energy through price and quantity. Many industries, including finance, have already leveraged smart contracts to introduce digital currencies. At this time, the utility industry is faced with the challenge of how to structure smart contract formation in a local energy market. Specifically, they are faced with the challenge of maintaining a balance between energy generation and demand while enabling traceability, security, and unbiased peer-to-peer energy transactions, especially within a virtual power plant. This article aims at addressing the aforementioned challenges. In particular, this article investigates how to structure the microgrids in a local energy market, and how to ensure balance and resiliency with incomplete information. Taking various generation asset dimensions and demand profiles into account, simulations are performed. A novel evolutionary computing strategy to structure the simulation is proposed. A comparison is made among random order, random selection, profit-based ranking, and evolutionary strategy for coordinating the contract formation. The discussions draw attention to each method's advantages and disadvantages in terms of their value as a strategy for forming smart contracts in a local energy market.en_US
dc.identifier.citationMishra S, John Crasta, Bordin C, Mateo‐Fornés. Smart contract formation enabling energy-as-a-service in a virtual power plant. International Journal of Energy Research. 2022;46:3272-3294en_US
dc.identifier.cristinIDFRIDAID 2038490
dc.identifier.doihttps://doi.org/10.1002/er.7381
dc.identifier.issn0363-907X
dc.identifier.issn1099-114X
dc.identifier.urihttps://hdl.handle.net/10037/26307
dc.language.isoengen_US
dc.publisherWileyen_US
dc.relation.journalInternational Journal of Energy Research
dc.rights.accessRightsopenAccessen_US
dc.rights.holderCopyright 2021 The Author(s)en_US
dc.titleSmart contract formation enabling energy-as-a-service in a virtual power planten_US
dc.type.versionpublishedVersionen_US
dc.typeJournal articleen_US
dc.typeTidsskriftartikkelen_US
dc.typePeer revieweden_US


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