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Identification of Five Different Application Opportunities for Blockchain in the Digital Grid Sector, 2018
DUBLIN, Jan. 23, 2018 /PRNewswire/ --
The "Digital Grid - Capitalizing on Opportunities with Blockchain Technology" report has been added to ResearchAndMarkets.com's offering.
The study on Blockchains takes an in-depth look at the addressable market for its existing applications along with emerging energy applications. The energy sector has seen significant changes over the past few decades across verticals such as generation, distribution, storage, and consumption. It continues to transition from fossil-fuel based centralized generation to renewable and distributed generation. There is a also a shift from centrally-owned and -operated power generation to small-scale commercial generation and 'prosumers', whose power flows are bidirectional. Both these forces combine to create significant challenges for the electricity grid's design, with legacy infrastructure struggling to offer the required flexibility.
A key trend influencing the uptake of Blockchain-related services in the US is the high rate of advanced metering infrastructure (AMI) adoption. States with high penetration of residential AMI meters are more likely to engage in peer-to-peer (P2P) energy transactions and adopt Blockchain platforms to execute them. Of the states with the highest AMI penetration, California and Georgia have the most number of distributed solar PV installations in the country. This makes them the most probabale adopters of Blockchain technology for P2P energy transactions.
Blockchain platforms that allow utilities to empower consumers to simply trade electricity with each other and settle payments with the help of an automated and decentralized system. (repetition) Therefore, this decentralized marketplace will enable utilities to lower their capital expnditure on renewable energy generation, and consumers to enjoy reduced energy bills. Some of the key challenges associated with Blockchain adoption are the uncertain regulatory status of crypto-currencies and transactive energy, nascent stages of technology/product development, and the need for a smart grid communication infrastructure.
Blockchain can also serve as a back-end platform for utilities to track and execute the following transactive energy applications:
- Billing platform for retail sales and net metering
- Platform for P2P trading and renewable energy certification
- International energy trading
- Electric vehicle and Vehicle-to-Grid
- Customer management
- Key Issues Addressed
Blockchain can provide disruptive technology solutions to address the following requirements
- Data coordination between a range of grid and behind-the-meter assets
- A secure automated trading platform
- Open access for innovative products and services.
Key Topics Covered:
1. EXECUTIVE SUMMARY
2. SUMMARY OF FINDINGS
- Transactive Energy - Overview
- Possibilities for Transactive Energy
- What is Blockchain?
- How Does Blockchain Work?
- Identification of Five Different Application Opportunities for Blockchain in the Digital Grid Sector
- Key Impact of Blockchain in the Electric Utility Industry
- Benefits of Blockchain in the Electric Utility Industry
- Challenges of Blockchain in the Electric Utility Industry
3. ADDRESSABLE MARKET - BLOCKCHAIN ENERGY MARKET
- Energy Use Case - Billing Platform for Retail Sales and Net Metering
- Energy Use Case - Platform for P2P Trading and Renewable Energy Certification
- Energy Use Case - International Energy Trading
4. MEGA TRENDS - TRENDS INFLUENCING BLOCKCHAIN ADOPTION
- Trends - Advanced Metering Infrastructure (AMI) (Residential)
- Trends - Advanced Metering Infrastructure
5. COMPANIES TO WATCH - BLOCKCHAIN FOR ENERGY
6. CASE STUDY - BROOKLYN MICRO GRID
- Case Study - Brooklyn Microgrid
- Case Study - Oxygen Initiative
- Case Study - United States Department of Energy
7. GROWTH OPPORTUNITIES - EMERGING GROWTH OPPORTUNITIES FOR BLOCKCHAIN
- Growth Opportunity 1 - EVs and Vehicle-to-Grid
- Growth Opportunity 2 - Customer Management
- Strategic Imperatives for Growth in the Energy Blockchain Industry
8. THE LAST WORD
9. APPENDIX
Companies Mentioned
- Center Point
- Con Edison
- DTE
- Duke Energy
- Exelon
- Florida Power & Light
- National Grid
- SEMPRA
- Southern California Edison
- Southern Company
For more information about this report visit https://www.researchandmarkets.com/research/s2sj54/identification_of?w=5
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