Technology & Infrastructure
Blockchain and distributed ledger technologies offer mechanisms for recording and executing energy transactions without a central intermediary, enabling new forms of peer-to-peer trading, renewable energy certificate tracking, and grid coordination.
Blockchain has the potential reduce transaction costs in energy markets, enable communities to trade locally produced electricity directly, and create tamper-resistant audit trails for renewable certificates. There are also issues that require attention, such as energy consumption, scalability, and the governance. Decentralised systems still require rules about who can participate and how disputes are resolved, which may require centralised authority of some kind. Evidence from pilot projects is mixed, and regulatory frameworks for blockchain-based energy trading remain to be developed in most jurisdictions.
Distributed ledger technologies can enable peer-to-peer energy transactions without intermediaries but it matters who provides platforms and oversees them.
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{tag>blockchain}
Andoni, M., Robu, V., Flynn, D., Abram, S., Geach, D., Jenkins, D., McCallum, P., & Peacock, A. (2019). Blockchain technology in the energy sector: A systematic review of challenges and opportunities. Renewable and Sustainable Energy Reviews, 100, 143–174. https://doi.org/10.1016/j.rser.2018.10.014