Electricity powered by blockchain: A review with a European perspective

Roth, Tamara; Utz, Manuel; Baumgarte, Felix; Rieger, Alexander; Sedlmeir, Johannes; Strüker, Jens

doi:10.1016/j.apenergy.2022.119799

Cited by 35 publications

(11 citation statements)

References 94 publications

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“…(2022), Wang et al . (2022a, b), Roth et al . (2022), Albalawi and Almaiah (2022) and are recommended to be examined.…”

Section: Related Workmentioning

confidence: 99%

“…Compilation studies on these subjects also contribute to the literature such as Afzal et al (2022), Wang et al (2022a, b), Roth et al (2022), Albalawi and Almaiah (2022) and are recommended to be examined.…”

Section: Related Workmentioning

confidence: 99%

“…The world is moving towards a sustainable future, and renewable energy is at the forefront of this transition. As more and more countries shift towards renewable energy sources, it is becoming increasingly important to establish efficient and effective transaction models for the buying and selling of renewable energy (Jamali et al ., 2022; Roth et al ., 2022).…”

Section: Introductionmentioning

confidence: 99%

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Trading excess consumption certificates on the blockchain using the cooperative game theory

Ergün

2023

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PurposeThe purpose of this study is to propose a decentralized multi-party cross-trading scheme based on a certificate transaction mechanism for the transaction of excess consumption certificates (ECCs) of renewable energy. The aim is to address the problems associated with the existing centralized transaction mode and to promote the development of the green electricity industry.Design/methodology/approachThe proposed scheme involves calculating the quotation difference for the same type of certificate transaction based on the quotations of all users of both buyers and sellers. The transaction volume is then determined based on the order of quotation difference from large to small, and the total interests of cooperation are calculated. The nucleolus method is adopted to allocate the total interests to each member of the alliance and calculate the final transaction price. The blockchain technology is used for the transaction to achieve accurate traceability and efficient supervision, and a corresponding smart contract is designed and simulated in the Ethereum consortium chain.FindingsThe results of the simulation show the rationality and effectiveness of the proposed scheme. The decentralized multi-party cross-trading scheme can overcome the problems associated with the existing centralized transaction mode, such as low transaction efficiency, difficulty in obtaining the optimal transaction strategy and efficient supervision. The proposed scheme can promote the development of the green electricity industry by stimulating users' demand potential for green electricity.Originality/valueThe proposed scheme is original in its use of a certificate transaction mechanism to facilitate the trading of ECCs of renewable energy. The scheme adopts a decentralized multi-party cross-trading approach that overcomes the problems associated with the existing centralized transaction mode. The use of the nucleolus method for the allocation of total interests to each member of the alliance is also original. Finally, the use of blockchain technology for accurate traceability and efficient supervision of the transaction is an original contribution to the field.

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“…(2022), Wang et al . (2022a, b), Roth et al . (2022), Albalawi and Almaiah (2022) and are recommended to be examined.…”

Section: Related Workmentioning

confidence: 99%

Section: Related Workmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Trading excess consumption certificates on the blockchain using the cooperative game theory

Ergün

2023

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“…Applications for wholesale trading aim to make wholesale power markets run more smoothly. They specifically investigate how smart contracts and blockchain-based registries might be used to lower the cost of clearing and settlement procedures, for example, by lowering the number of warranties necessary (Roth et al, 2022).  Microgrid: Automated microgrid administration is provided by microgrid operating apps in situations when traditional, centralised tools and models of management are neither practical or acceptable.…”

Section: Literature Reviewmentioning

confidence: 99%

“… Certificate trading: Blockchain is used by certificate trading applications to generate and trade certificates that serve as proofs of emission or origin. Since the majority use labelling data to provide certifications that certify the origin or emissions for certain generation and storage facilities, they can be considered as an extension of labelling applications for electricity (Roth et al, 2022). An electronic certificate known as a REC is given to authorised producers of renewable energy.…”

Section: Literature Reviewmentioning

confidence: 99%

A Systematic Review on Development of Blockchain Technology Across Different Sectors

2022

IRJMETS

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Blockchain was first thought of as a way to develop Bitcoin, a trustless cryptocurrency. Since then, it has moved beyond its original intent as more and more industries and interested parties see it as a method for resolving current business problems and re-stabilize mature industries. Across this study, we conduct a systematic literature review of blockchain-based applications in various sectors. The purpose of this study is to examine how blockchain has progressed over the years, its current status, what uses it has found, and how its distinctive qualities can revolutionize the way "business as usual" is done. Therefore, this review incorporates the theoretical underpinnings of a considerable number of research papers published in highly regarded scientific journals over the years, in an effort to streamline our evaluation and encompass the rapidly growing blockchain domain. We provide an extensive identification of blockchain-enabled applications covering supply chain, finance, healthcare, energy, and cloud-storage industries. This classification is premised on an organized, systematic review and conceptual data analysis of the identified publications. Additionally, we define major themes, developments, and arising areas for further research. Based on these results, we propose a number of new research avenues that will likely prove useful to scholars and professionals alike. The findings of this research suggest that the distinctive characteristics of blockchain technology, such as confidentiality, encryption, anonymity, decentralization, and authenticity, offer significant advantages to a wide range of domains and spheres of study.

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Integrating Blockchain Technology in Supply Chain Risk Management for Sustainable Development

ul Amin,

Ji,

ul Amin

et al. 2024

Environmentally Sustainable Production

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Electricity powered by blockchain: A review with a European perspective

Cited by 35 publications

References 94 publications

Trading excess consumption certificates on the blockchain using the cooperative game theory

Trading excess consumption certificates on the blockchain using the cooperative game theory

A Systematic Review on Development of Blockchain Technology Across Different Sectors

Integrating Blockchain Technology in Supply Chain Risk Management for Sustainable Development

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