Power Reservation Tokens for Flexible Renewable Energy Trading
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
The existing power transaction systems lack flexibility in managing power transactions, particularly in handling renewable energy sources where power generation is unstable.
Innovation Solution
A power transaction system that issues power reservation tokens, allowing users to reserve power generated from specific energy types, and subsequently issues result tokens upon power usage, enabling flexible and efficient power supply and demand matching.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a power transaction system uses traditional centralized trading mechanisms, then transaction reliability is maintained, but flexibility in managing power transactions particularly for renewable energy sources is reduced
Solution Approach 1:
The patent introduces a blockchain-based intermediary layer that mediates between power generators and consumers. The blockchain acts as a decentralized trusted intermediary, recording power transactions immutably while allowing flexible smart contract-based trading mechanisms. This resolves the contradiction by providing both flexibility through programmable contracts and reliability through cryptographic verification and distributed consensus.
Solution Approach 2:
The patent implements preliminary action through advance power reservation using tokens. Users can reserve power from renewable energy sources in advance by acquiring power reservation tokens, which are then redeemed when power is needed. This allows flexible transaction arrangements to be established beforehand, ensuring both transaction flexibility and reliability through pre-arranged agreements recorded on the blockchain.
2Adaptability or versatility
If power reservation tokens are issued for specific energy types, then adaptability for different power sources is improved, but device complexity increases
Solution Approach 1:
The patent applies parameter changes by creating different types of power reservation tokens with varying parameters (energy source type, time period, power amount). Each token type is configured with specific parameters to match different renewable energy sources and trading conditions. This allows the system to adapt to various power sources while maintaining a unified token-based framework, avoiding excessive system complexity.
Solution Approach 2:
The patent implements universality through a unified blockchain-based platform that handles multiple energy types and transaction modes. The same basic token structure and blockchain infrastructure serve diverse purposes: tracking different renewable energy sources, managing various transaction types, and supporting multiple users. This multi-functional approach achieves power source adaptability without proportionally increasing system complexity.
3Productivity
If advance power reservation is enabled, then productivity of power trading is improved, but loss of time for token issuance and verification increases
Solution Approach 1:
The patent implements preliminary action by allowing users to acquire and hold power reservation tokens in advance before actual power consumption. The token issuance and initial verification occur ahead of time, enabling users to have their power reservations ready beforehand. This shifts the processing time to an earlier stage, improving overall trading productivity while the actual power delivery and final verification happen efficiently when needed.
Solution Approach 2:
The patent replaces traditional mechanical trading processes with automated blockchain-based smart contracts. Token issuance, verification, and power transaction execution are handled automatically by programmed smart contracts on the blockchain, eliminating manual processing steps. This automation significantly reduces processing time and increases trading productivity, as the system executes transactions based on pre-set conditions without human intervention.
Data Source
AI summary
A power transaction system includes: a token generation unit that issues a power reservation token that is a right to use specific power that is power obtained by generating power using a specific type of energy; a power supply control unit that supplies power in exchange for the power reservation token; and a result token issuing unit that issues a result token indicating that the specific power supplied in exchange for the power reservation token is used.