A Secure and Efficient Renewable Energy Sharing Framework for Distributed Prosumers

A microgrid incorporates renewable energy sources, generating and storing power in a distributed manner. Traditionally, a microgrid can only sell the surplus of energy to the grid at a much lower price, potentially discouraging people from participating in the energy revolution. Enabling direct energy trading among microgrids and consumers improves the return on investment. However, it is challenging to swap transaction information. Thus, we leverage carefully-selected blockchain technologies to tackle the above concern and develop an off-grid energy-sharing framework for prosumers. In detail, a combination of technologies is adopted to design the framework, including permisionless chain, proof of state algorithm, smart contract, lightweight cryptosystem, and Raiden network. Evaluation showcases the benefits and validity of our framework, where a prosumer makes up to 10 times of profits as the conventional trading strategy in the Australian market. Furthermore, security and efficiency are enhanced in comparison to classic solutions.