A novel generation right trade in blockchain-enabled continuous double auction system

Optimizing generation schedule is the basis of economic operation for power system. In response to the policy about energy efficiency and emission reduction, Generation Right Trade (GRT) has caused wide public concern which is introduced to reach the triad of aims to integrate large-scale clean energy, reduce the emission of thermal power and protect the energy security. Whilst it has generally come up with a large number of researches to solve those aims, yet few of them have considered the advance of Industry 4.0. This paper proposes a novel model of GRT customized for Industry 4.0 layout. It frames a trade data management and provides a decentralized trade market with high transparency but without trust problem based on blockchain technology, whilst it integrates continuous double auction (CDA) mechanism to solve the problem about the price with adaptive aggressiveness strategy and the allocation of power resources and improve the efficiency of GRT. Containing the information of price, quantity, identity and etc, Smart Contract executes the transformation of value after the agreement of transaction. Finally, this paper explains the procedure of GRT based on blockchain technology and CDA mechanism and verifies the feasibility of proposed model through the case study.