In the dynamic world of energy management, a groundbreaking study led by Manikandan Ramasamy from the Department of Electrical and Electronics Engineering at Vivekanandha College of Engineering for Women, Tiruchengode, Tamil Nadu, India, sheds light on the intricate dance between demand response, renewable energy integration, and blockchain technology. The research, published in AIP Advances, delves into the complexities of balancing energy demand in a power system network, particularly within microgrids that harness wind and solar power.
The study explores three pivotal scenarios: microgrid energy management, consumer penalties, and grid management enhanced by blockchain technology. Ramasamy’s work underscores the profound impact of demand response and renewable energy sources on the efficiency of electricity distribution networks. “Renewable energy sources, such as solar and wind units, with a curtailed incentive-based demand response scheme, are discussed in this paper along with economic dispatch,” Ramasamy explains. This approach aims to optimize utility benefits while minimizing transaction and conventional power costs, a critical balance in today’s energy landscape.
The research employs two distinct optimization methods: the gray wolf optimization algorithm and particle swarm optimization. These algorithms are used to solve the optimization model, ensuring that the energy distribution is both efficient and cost-effective. The study proposes a system with three units and three customer test systems, providing a comprehensive framework for implementation.
One of the most innovative aspects of this research is the introduction of penalties for customers who fail to use renewable energy. This incentive-based approach not only encourages the adoption of renewable energy sources but also ensures that the grid remains stable and efficient. Blockchain technology is proposed as a means to safeguard energy transactions between the grid and microgrid, adding an extra layer of security and transparency to the energy distribution process.
The study’s findings are compelling, with a 24-hour scheduling interval used to produce optimization results. The comparison of optimization methods for the test system results highlights the effectiveness of the proposed strategies. “Ultimately, outcomes are acquired and compared using optimization methods for test system results,” Ramasamy states, emphasizing the practical applicability of the research.
This research has significant commercial implications for the energy sector. As the world shifts towards renewable energy sources, the ability to manage and optimize energy distribution efficiently is paramount. The integration of blockchain technology in energy transactions not only enhances security but also builds trust among stakeholders. The incentive-based demand response scheme, coupled with penalties for non-compliance, provides a robust framework for encouraging the adoption of renewable energy sources.
The study, published in the journal AIP Advances, which translates to “Advances in Physics,” offers a glimpse into the future of energy management. As we move towards a more sustainable energy landscape, the insights from Ramasamy’s research could shape future developments in the field, paving the way for more efficient, secure, and cost-effective energy distribution systems.
