Blockchain-Based Joint Incentive Mechanism for Tradable Green Certificate and Carbon Trading Market

Xue YANG; Xiaojun JIN; Haiyang WANG; Yifei WEI

doi:10.12204/j.issn.1000-7229.2022.06.003

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Electric Power Construction ›› 2022, Vol. 43 ›› Issue (6) : 24-33. DOI: 10.12204/j.issn.1000-7229.2022.06.003

Energy Power Economy and Market Mechanism Driven by Dual Carbon Targets?Hosted by Professor WEN Fushuan and Professor LIU Dunnan?

Blockchain-Based Joint Incentive Mechanism for Tradable Green Certificate and Carbon Trading Market

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Abstract

The current trading system for renewable energy is immature. The green certificate system has not performed well in encouraging the integration of renewable energy into the grid and alleviating the pressure of financial subsidies. The current carbon market has no obvious effect on promoting emission reduction. In order to solve the above problems, this paper proposes a joint incentive mechanism for green certificates and carbon trading market applying blockchain. The decentralization, openness and transparency of blockchain are used to combine with the renewable energy trading market to make the renewable energy market more transparent and convenient and safety. In order to motivate market entities who contribute to emission reduction, the consensus algorithm in blockchain is studied, and a PoCT consensus algorithm suitable for consortium blockchain is proposed to encourage market entities to participate in the transaction of renewable energy products, while solving traditional N@S attack problem in the PoS consensus mechanism and the fairness of reward distribution. Simulation results show that PoCT can effectively incentivize renewable energy trading with high efficiency.

Key words

blockchain / consensus algorithm / tradable green certificate / renewable portfolio standard (RPS) / carbon trading

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Xue YANG , Xiaojun JIN , Haiyang WANG , et al. Blockchain-Based Joint Incentive Mechanism for Tradable Green Certificate and Carbon Trading Market[J]. Electric Power Construction. 2022, 43(6): 24-33 https://doi.org/10.12204/j.issn.1000-7229.2022.06.003

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