Conceptualization of blockchain enabled interconnected smart microgrids

Power systems are undergoing rapid transitions to incorporate renewable sources of generation and combat climate change. The next stage will lead a shift from large-scale, centralized networks small-sized, distributed electricity systems, which require or decentralized ledgers for database management efficient transactions. Distributed Ledger Technology (DLT) form where the transactions (energy, information, money) among various entities maintained. One such DLT is blockchain technology offers several advantages. Data recorded in blockchains difficult tamper with; have privacy protection; facilitate fast, accurate, real-time settlement financial Contemporary research has started focusing on their possible applications energy systems. State-of-the-art suggests that while business market aspects been extensively discussed, electrical constraints implementation methodologies not adequately addressed. Furthermore, all reviewed projects implemented only peer-to-peer scalable. To new like prosumers, inter-microgrid transactions, interactions with legacy power grid, structural operational frameworks necessary. proposed explores possibility developing enabled smart microgrids (BSMG) above frameworks. It aims build conceptual framework BSMG, including transaction protocols process flows. proposes inclusion network three-level setup executed over four-layered architecture. Another practical challenge BSMGs may be set up different platforms. Hence, this paper also implementing Inter-Blockchain Protocol first time include interoperability communication between Finally, performance metrics used validate outlined. • Blockchain Enabled Smart Microgrids play pivotal role Energy industry. Architecture simplified four distinct layers based functionality. Process flow modified take into account. InterBlockchain Communication time. Qualitative quantitative benchmarking measures developed models.