{"id":{"repo_id":"vt","oai_identifier":"oai:vtechworks.lib.vt.edu:10919/87563"},"canonical_url":"https://search.dev.ndltd.org/etd/vt/oai:vtechworks.lib.vt.edu:10919/87563","repository":{"repo_id":"vt","name":"Virginia Tech","base_url":"https://vtechworks.lib.vt.edu/oai/request"},"display":{"title":"Analysis of Blockchain-based Smart Contracts for Peer-to-Peer Solar Electricity Transactive Markets","abstract":"The emergence of blockchain technology and increasing penetration of distributed energy resources (DERs) have created a new opportunity for peer-to-peer (P2P) energy trading. However, challenges arise in such transactive markets to ensure individual rationality, incentive compatibility, budget balance, and economic efficiency during the trading process. This thesis creates an hour-ahead P2P energy trading network based on the Hyperledger Fabric blockchain and explores a comparative analysis of different auction mechanisms that form the basis of smart contracts. Considered auction mechanisms are discriminatory and uniform k-Double Auction with different k values. This thesis also investigates effects of four consumer and prosumer bidding strategies: random, preference factor, price-only game-theoretic approach, and supply-demand game-theoretic approach. A custom simulation framework that models the behavior of the transactive market is developed. Case studies of a 100-home microgrid at various photovoltaic (PV) penetration levels are presented using typical residential load and PV generation profiles in the metropolitan Washington, D.C. area. Results indicate that regardless of PV penetration levels and employed bidding strategies, discriminatory k-DA can outperform uniform k-DA. Despite so, discriminatory k-DA is more sensitive to market conditions than uniform k-DA. Additionally, results show that the price-only game-theoretic bidding strategy leads to near-ideal economic efficiencies regardless of auction mechanisms and PV penetration levels.","abstract_html":"The emergence of blockchain technology and increasing penetration of distributed energy resources (DERs) have created a new opportunity for peer-to-peer (P2P) energy trading. However, challenges arise in such transactive markets to ensure individual rationality, incentive compatibility, budget balance, and economic efficiency during the trading process. This thesis creates an hour-ahead P2P energy trading network based on the Hyperledger Fabric blockchain and explores a comparative analysis of different auction mechanisms that form the basis of smart contracts. Considered auction mechanisms are discriminatory and uniform k-Double Auction with different k values. This thesis also investigates effects of four consumer and prosumer bidding strategies: random, preference factor, price-only game-theoretic approach, and supply-demand game-theoretic approach. A custom simulation framework that models the behavior of the transactive market is developed. Case studies of a 100-home microgrid at various photovoltaic (PV) penetration levels are presented using typical residential load and PV generation profiles in the metropolitan Washington, D.C. area. Results indicate that regardless of PV penetration levels and employed bidding strategies, discriminatory k-DA can outperform uniform k-DA. Despite so, discriminatory k-DA is more sensitive to market conditions than uniform k-DA. Additionally, results show that the price-only game-theoretic bidding strategy leads to near-ideal economic efficiencies regardless of auction mechanisms and PV penetration levels.","abstract_has_math":false,"creators":["Lin, Jason"],"institution":"Virginia Tech","degree_name":"MS","degree_level":"masters","degree_discipline":"Electrical Engineering","degree_department":"Electrical Engineering","school":null,"contributors":[],"advisors":[],"committee_chairs":["Rahman, Saifur"],"committee_members":["Pipattanasomporn, Manisa","Yu, Guoqiang"],"year":2019,"date_issued":"2019-02-08","date_published":"2019-02-08","updated_at":"2026-07-22T22:19:56Z","subjects":["auction mechanism","blockchain","game theory","smart contract","transactive energy"],"languages":[],"rights":["In Copyright"],"rights_urls":["http://rightsstatements.org/vocab/InC/1.0/"],"identifier_entries":[{"key":"dc:identifier.other","label":"Dc Identifier Other","values":["vt_gsexam:18875"],"render_values":[{"text":"vt_gsexam:18875","href":null,"code":true}]}]},"links":{"outbound_url":"http://hdl.handle.net/10919/87563","outbound_label":"Handle","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.committeechair","label":"Committee Chair","values":["Rahman, Saifur"]},{"key":"dc:contributor.committeemember","label":"Committee Member","values":["Pipattanasomporn, Manisa","Yu, Guoqiang"]},{"key":"dc:contributor.department","label":"Department","values":["Electrical Engineering"]},{"key":"dc:creator","label":"Author","values":["Lin, Jason"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2019-02-09T09:00:33Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2019-02-09T09:00:33Z"]},{"key":"dc:date.issued","label":"Date","values":["2019-02-08"]},{"key":"dc:publisher","label":"Institution","values":["Virginia Tech"]},{"key":"dc:type","label":"Dc Type","values":["Thesis"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Electrical Engineering"]},{"key":"thesis:degree_level","label":"Degree Level","values":["masters"]},{"key":"thesis:degree_name","label":"Degree Name","values":["MS"]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["Virginia Polytechnic Institute and State University"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["auction mechanism","blockchain","game theory","smart contract","transactive energy"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:rights","label":"Dc Rights","values":["In Copyright"]},{"key":"dc:rights.uri","label":"Rights URI","values":["http://rightsstatements.org/vocab/InC/1.0/"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.other","label":"Dc Identifier Other","values":["vt_gsexam:18875"]},{"key":"dc:identifier.uri","label":"Identifier URI","values":["http://hdl.handle.net/10919/87563"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["The emergence of blockchain technology and increasing penetration of distributed energy resources (DERs) have created a new opportunity for peer-to-peer (P2P) energy trading. However, challenges arise in such transactive markets to ensure individual rationality, incentive compatibility, budget balance, and economic efficiency during the trading process. This thesis creates an hour-ahead P2P energy trading network based on the Hyperledger Fabric blockchain and explores a comparative analysis of different auction mechanisms that form the basis of smart contracts. Considered auction mechanisms are discriminatory and uniform k-Double Auction with different k values. This thesis also investigates effects of four consumer and prosumer bidding strategies: random, preference factor, price-only game-theoretic approach, and supply-demand game-theoretic approach. A custom simulation framework that models the behavior of the transactive market is developed. Case studies of a 100-home microgrid at various photovoltaic (PV) penetration levels are presented using typical residential load and PV generation profiles in the metropolitan Washington, D.C. area. Results indicate that regardless of PV penetration levels and employed bidding strategies, discriminatory k-DA can outperform uniform k-DA. Despite so, discriminatory k-DA is more sensitive to market conditions than uniform k-DA. 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