Blockchain for power systems: Current trends and future applications

Maria Luisa Di Silvestre, Pierluigi Gallo, Josep M. Guerrero, Rossano Musca, Eleonora Riva Sanseverino, Giuseppe Sciumè, Juan C. Vásquez and Gaetano Zizzo

Renewable and Sustainable Energy Reviews, 2020, vol. 119, issue C

Abstract: Today, the blockchain is synonymous of technological innovation, being recognized among the 10 top strategy technologies in 2018 by the consulting company Gartner, it is more and more adopted in different sectors. However, the initial enthusiasm around this technology is going beyond the peak of inflated expectations, towards more stable applications in money transactions, cryptocurrencies and Digital Commodity Exchanges. Essentially, misguided efforts, the overuse of blockchain, and the Bitcoin's price drop have been the main reasons for this decay in expectations. Nevertheless, the exploitation of the blockchain technology in the power systems area appears largely underexplored, furthermore, the relation to the physical asset makes the blockchain application more complex but also more reliable and related to measurable benefits. The most common applications in the power systems area relate to the energy market. When the blockchain technology is indeed applied to the energy field, the term energy blockchain is used. This article aims to propose a wide perspective about the application of the blockchain technology in the power systems area, clarifying some technical aspects concerning this promising technology, the features and applications developed so far, while focusing on the future of innovative applications in the electrical energy sector.

Keywords: Peer-to-peer; Energy blockchain; Energy market; Supply chain management; Aggregation; Decentralized control; Decentralized management; Review (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (28)

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DOI: 10.1016/j.rser.2019.109585

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