Privacy-Preserving Energy Scheduling for ESCOs Based on Energy Blockchain Network

Tan, Shengmin; Wang, Xu; Jiang, Chuanwen

doi:10.3390/en12081530

Cited by 41 publications

(19 citation statements)

References 30 publications

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“…The technology allows safe quantification of the amount of energy generated and used. SolarCoin owners-individuals or large solar panels-are proposing to build a currency transaction based on the assumption that electricity produced from solar energy is worth more in the world than its value in traditional energy markets [52][53][54].…”

Section: Comparison Of the Advanced Methods For Energy Transactionmentioning

confidence: 99%

Implementing Blockchain Technology in Irrigation Systems That Integrate Photovoltaic Energy Generation Systems

et al. 2020

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Traditionally, the energy industry has been slow in adopting new disruptive technologies and the transition to a new energy market will require a new digital transformation plan, involving all parties from the energy market. Although it now seems to be an impossible and hard-to-accept scenario, especially by the big players in the industry, the pilot projects so far demonstrate that blockchain can play a major role in the future energy market, even if the technology is still in the first stages of the adoption life cycle. This article attempts to describe a solution to provide alternative irrigation systems for small farmers. The solution involves creating associations of small farmers that will use green energy from photovoltaic panels for the irrigation of agricultural lands. The efficiency of the proposed system can be monitored not only through digital hardware connected to photovoltaic panels and water pumps, but also by using the new blockchain technology that stimulates innovation and growth in the energy and a high level of automation though smart contracts. To accelerate the transition to the green energy economy, a SolarCoin version similar to the Bitcoin cryptocurrency has also been proposed, which is a utility token that creates new possibilities for energy and water trading.Sustainability 2020, 12, 1540 2 of 30 photovoltaic panels can still be used at high capacity to supplement the energy required to run the farm [4,12,13].Photovoltaic systems are ideal in isolated areas that do not have access to the national energy system. Below, the most important advantages of applying the photovoltaic systems in agriculture have been listed [14-16]:

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Section: Comparison Of the Advanced Methods For Energy Transactionmentioning

confidence: 99%

Implementing Blockchain Technology in Irrigation Systems That Integrate Photovoltaic Energy Generation Systems

et al. 2020

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“…Only 10% of all ESCOs incorporate external financing, as banks appear to be hesitant to lending for the purpose and view associated transaction costs as being too high [111]. Consequently, limited access to finance remains a significant barrier to scaling up the activity of ESCOs [9,36]. In this case, a blockchain-based system can enable new financing mechanisms by enabling access to a global investor base.…”

Section: Energy Service Companies (Escos)mentioning

confidence: 99%

“…Second, blockchain could serve as a distributed accounting and trading platform for the energy efficiency White Certificate Schemes (WCS) [15]. Third, blockchain could enable decentralised financing mechanisms for Energy Service Companies (ESCOs) [15,36,37].…”

Section: Introductionmentioning

confidence: 99%

How Can Blockchain Technology Accelerate Energy Efficiency Interventions? A Use Case Comparison

et al. 2020

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This paper qualitatively evaluates the application of blockchain technology for three energy efficiency use cases. To achieve the Sustainable Development Agenda, energy efficiency improvements have to double by 2030. However, the adoption of energy efficiency interventions is slow due to several market barriers. Blockchain technology is a nascent technology with the potential to address these barriers or even fundamentally change energy system designs, by enabling transparent, decentralised, and tamper-resilient systems. Nevertheless, a blockchain application comes with trade-offs and needs to be considered on a case by case basis. In this paper, we examine the benefits and constraints of a blockchain application for three different approaches to achieving energy efficiency: (i) peer-to-peer (P2P) energy trading; (ii) White Certificate Scheme (WCS); and (iii) Energy Service Companies (ESCOs). For each of these cases, we apply a decision framework to assess blockchain feasibility and outline a potential blockchain-based design. The analysis shows that blockchain functions are case dependent and that an application creates different governance and system designs due to varying case characteristics. We discuss how the identified blockchain adoption barriers can be overcome and stress the need for policy action to advance the development of pilot studies. By decentralising system governance, blockchain enables innovative designs that can accelerate the implementation of energy efficiency interventions.

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“…The most prominent energy blockchain applications include peer-to-peer trading, electric vehicle charging, sustainability rewards, prepaid metering, energy performance, and demand-side management, to name a few [4]. Of these applications, peer-to-peer and transactive energy trading for smart grids and microgrids represent some of the most compelling and researched use cases, with research contributions focusing on efficient and robust designs to facilitate energy transactions across communities and wholesale markets [5][6][7][8][9].…”

Section: Energy Blockchain Applicationsmentioning

confidence: 99%

A Systematic Analysis of Real-World Energy Blockchain Initiatives

O’Donovan

O’Sullivan

2019

Future Internet

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The application of blockchain technology to the energy sector promises to derive new operating models focused on local generation and sustainable practices, which are driven by peer-to-peer collaboration and community engagement. However, real-world energy blockchains differ from typical blockchain networks insofar as they must interoperate with grid infrastructure, adhere to energy regulations, and embody engineering principles. Naturally, these additional dimensions make real-world energy blockchains highly dependent on the participation of grid operators, engineers, and energy providers. Although much theoretical and proof-of-concept research has been published on energy blockchains, this research aims to establish a lens on real-world projects and implementations that may inform the alignment of academic and industry research agendas. This research classifies 131 real-world energy blockchain initiatives to develop an understanding of how blockchains are being applied to the energy domain, what type of failure rates can be observed from recently reported initiatives, and what level of technical and theoretical details are reported for real-world deployments. The results presented from the systematic analysis highlight that real-world energy blockchains are (a) growing exponentially year-on-year, (b) producing relatively low failure/drop-off rates (~7% since 2015), and (c) demonstrating information sharing protocols that produce content with insufficient technical and theoretical depth.

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Privacy-Preserving Energy Scheduling for ESCOs Based on Energy Blockchain Network

Cited by 41 publications

References 30 publications

Implementing Blockchain Technology in Irrigation Systems That Integrate Photovoltaic Energy Generation Systems

Implementing Blockchain Technology in Irrigation Systems That Integrate Photovoltaic Energy Generation Systems

How Can Blockchain Technology Accelerate Energy Efficiency Interventions? A Use Case Comparison

A Systematic Analysis of Real-World Energy Blockchain Initiatives

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