Multi-use of stationary battery storage systems with blockchain based markets

Cong Nam Truong; Michael Schimpe; Uli Bürger; Holger C. Hesse; Andreas Jossen

doi:10.1016/j.egypro.2018.11.070

Multi-use of stationary battery storage systems with blockchain based markets

Cong Nam Truong, Michael Schimpe, Uli Bürger, Holger C. Hesse, Andreas Jossen

Chair of Electrical Energy Storage Technology

Research output: Contribution to journal › Conference article › peer-review

14 Scopus citations

Abstract

This article proposes a basic concept for the multi-use of stationary battery storage systems with multiple stakeholders to improve the economic value of battery storage systems. An auction market is suggested, where segments of the energy storage system and rights of use are auctioned. The blockchain technology is incorporated to develop a generic, low-cost concept that enables distinct obligations between the stakeholders caused by the technical operation of the battery storage system. Smart contracts allow flexible sharing of the battery storage system and increase the system's utilization ratio in the presence of prediction uncertainties.

Original language	English
Pages (from-to)	3-16
Number of pages	14
Journal	Energy Procedia
Volume	155
DOIs	https://doi.org/10.1016/j.egypro.2018.11.070
State	Published - 2018
Event	12th International Renewable Energy Storage Conference, IRES 2018 - Dusseldorf, Germany Duration: 13 Mar 2018 → 15 Mar 2018

Keywords

Auction market
Energy storage
Internet of things
Microgrid
Multi-objective
Multi-purpose
Operation strategy
Sharing economy
Smart contract
Stacked services

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10.1016/j.egypro.2018.11.070

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title = "Multi-use of stationary battery storage systems with blockchain based markets",

abstract = "This article proposes a basic concept for the multi-use of stationary battery storage systems with multiple stakeholders to improve the economic value of battery storage systems. An auction market is suggested, where segments of the energy storage system and rights of use are auctioned. The blockchain technology is incorporated to develop a generic, low-cost concept that enables distinct obligations between the stakeholders caused by the technical operation of the battery storage system. Smart contracts allow flexible sharing of the battery storage system and increase the system's utilization ratio in the presence of prediction uncertainties.",

keywords = "Auction market, Energy storage, Internet of things, Microgrid, Multi-objective, Multi-purpose, Operation strategy, Sharing economy, Smart contract, Stacked services",

author = "Truong, {Cong Nam} and Michael Schimpe and Uli B{\"u}rger and Hesse, {Holger C.} and Andreas Jossen",

note = "Publisher Copyright: {\textcopyright} 2018 The Authors. Published by Elsevier Ltd.; 12th International Renewable Energy Storage Conference, IRES 2018 ; Conference date: 13-03-2018 Through 15-03-2018",

year = "2018",

doi = "10.1016/j.egypro.2018.11.070",

language = "English",

volume = "155",

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journal = "Energy Procedia",

issn = "1876-6102",

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T1 - Multi-use of stationary battery storage systems with blockchain based markets

AU - Truong, Cong Nam

AU - Schimpe, Michael

AU - Bürger, Uli

AU - Hesse, Holger C.

AU - Jossen, Andreas

PY - 2018

Y1 - 2018

N2 - This article proposes a basic concept for the multi-use of stationary battery storage systems with multiple stakeholders to improve the economic value of battery storage systems. An auction market is suggested, where segments of the energy storage system and rights of use are auctioned. The blockchain technology is incorporated to develop a generic, low-cost concept that enables distinct obligations between the stakeholders caused by the technical operation of the battery storage system. Smart contracts allow flexible sharing of the battery storage system and increase the system's utilization ratio in the presence of prediction uncertainties.

AB - This article proposes a basic concept for the multi-use of stationary battery storage systems with multiple stakeholders to improve the economic value of battery storage systems. An auction market is suggested, where segments of the energy storage system and rights of use are auctioned. The blockchain technology is incorporated to develop a generic, low-cost concept that enables distinct obligations between the stakeholders caused by the technical operation of the battery storage system. Smart contracts allow flexible sharing of the battery storage system and increase the system's utilization ratio in the presence of prediction uncertainties.

KW - Auction market

KW - Energy storage

KW - Internet of things

KW - Microgrid

KW - Multi-objective

KW - Multi-purpose

KW - Operation strategy

KW - Sharing economy

KW - Smart contract

KW - Stacked services

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DO - 10.1016/j.egypro.2018.11.070

M3 - Conference article

AN - SCOPUS:85058214356

SN - 1876-6102

VL - 155

SP - 3

EP - 16

JO - Energy Procedia

JF - Energy Procedia

T2 - 12th International Renewable Energy Storage Conference, IRES 2018

Y2 - 13 March 2018 through 15 March 2018

ER -

Multi-use of stationary battery storage systems with blockchain based markets

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Keywords

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