Distributed Optimization in Residential Power Grids for Real-Time Energy Management Using Blockchain Based Smart Contracts

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This research program (RP) is aiming at distributed optimization and management of electric grid. The goal of RP is to design and analyze distributed algorithms for processing data. It has its roots in the fact that by splitting, dispersing and locating decision-making mechanisms closer to the loads and consumers, it is possible to achieve faster response time, better utilization and control over Distributed Energy Resources (DERs). This, in turn can increase security of the collected, transmitted and stored information through utilization of distributed ledgers such as Blockchain. Incorporation of Blockchain technology allows for real-time and dynamic pricing using smart contracts. This technology is promising in: A) Establishing a real-time response of Distributed Energy Resources (DERs) to price signals, B) Increasing reliability by locating where distributed energy resources and/or loads are affecting the system, C) Producing transparent and incorruptible ledger, and D) Giving greater customer choices and lower costs to stakeholders. It also could facilitate new business models such as virtual net metering. Traditional methods sometime fail in practice because they are not designed to take into account the uncertain nature of renewable energy generation, microgrid and load changes. Advancements in Building Management Systems (BMS) technologies make it possible to reside the proposed mechanisms within the BMS core in every household and enable consumers to benefit from a more efficient Demand Side Management (DSM) program implementation in an automated manner. This RP intends to detect, analyze, and transfer information over smart microgrid networks. The outcome of this RP allows the systems to intelligently and dynamically alter, reconfigure and enhance themselves as the input (generation) and outputs (loads) change. This RP, upon successful completion, will significantly affect energy market as both utility providers and consumers will benefit from a balanced consumption, efficient utilization of green sources of energy, real-time pricing and enhanced security. As the system will be placed within the BMS core of buildings, companies and businesses in the area of Building Automation and green energies will significantly benefit from the resulted market growth. Stakeholders of this RP are: A) private or publicly owned utilities, power producers,  or suppliers, B) independent system operators, C) regulatory authorities, D) independent project developers, E) technology and energy management system vendors, F) commercial or residential consumers (ratepayers), and finally, G) prosumers. Two (2) PhD, four (4) MASc and ten (10) undergraduate students will be trained in a gender neutral team with diverse ethnicity in leading-edge technology to help meet the growing demand for expertise in this area. The timeliness of this research is evidenced by recent massive job postings by multiple industries in the area of Blockchain technology.