Blockchain-based Carbon and Power Integrated Trading Platform with Innovative Transaction Rules

As the issue of achieving net zero carbon emission goal gains attention worldwide, the effective reduction of greenhouse gases through carbon trading mechanisms to realize carbon neutrality has become an important research topic. This paper proposes a blockchain-based trading platform that tightly integrates carbon and power transactions via innovative transaction rules. The trading objects are capacity of renewable energy resources, and “carbon points” are calculated according to actual real-time power consumption. The result will be announced on the trading platform accordingly for the major carbon emitters to verify. The market mechanism regulates and matches the buyers' and suppliers' desired bidding prices through the introduction of blockchain technology, enabling dynamic hourly green power trading bidding and matching without relying on third-party intermediaries. The numerical results indicate that the blockchain-based carbon and power integrated trading platform as proposed in this paper can operate more effectively compared to the existing green power transaction rules in Taiwan. The feasibility of real-time bidding and matching rules is demonstrated to achieve small-scale renewable energy resources aggregation, 24/7 full-time green power trading. Advantages of combination of blockchain technology and advanced metering infrastructure (AMI) are demonstrated to approach the net-zero carbon emission goal.