Integrating Blockchain in Smart Grids for Enhanced Demand Response: Challenges, Strategies, and Future Directions

Paraskevas Koukaras, Konstantinos D. Afentoulis, Pashalis A. Gkaidatzis, Aristeidis Mystakidis, Dimosthenis Ioannidis, Stylianos I. Vagropoulos and Christos Tjortjis ()
Additional contact information
Paraskevas Koukaras: Information Technologies Institute, Centre for Research & Technology, 57001 Thessaloniki, Greece
Konstantinos D. Afentoulis: Department of Energy Systems, University of Thessaly, Gaiopolis Campus, Ring Road of Larissa-Trikala, 41500 Larissa, Greece
Pashalis A. Gkaidatzis: Information Technologies Institute, Centre for Research & Technology, 57001 Thessaloniki, Greece
Aristeidis Mystakidis: Information Technologies Institute, Centre for Research & Technology, 57001 Thessaloniki, Greece
Dimosthenis Ioannidis: Information Technologies Institute, Centre for Research & Technology, 57001 Thessaloniki, Greece
Stylianos I. Vagropoulos: Department of Energy Systems, University of Thessaly, Gaiopolis Campus, Ring Road of Larissa-Trikala, 41500 Larissa, Greece
Christos Tjortjis: School of Science and Technology, International Hellenic University, 14th km Thessaloniki-Moudania, 57001 Thessaloniki, Greece

Energies, 2024, vol. 17, issue 5, 1-32

Abstract: This research, conducted throughout the years 2022 and 2023, examines the role of blockchain technology in optimizing Demand Response (DR) within Smart Grids (SGs). It critically assesses a range of blockchain architectures, evaluating their impact on enhancing DR’s efficiency, security, and consumer engagement. Concurrently, it addresses challenges like scalability, interoperability, and regulatory complexities inherent in merging blockchain with existing energy systems. By integrating theoretical and practical viewpoints, it reveals the potential of blockchain technology to revolutionize Demand Response (DR). Findings affirm that integrating blockchain technology into SGs effectively enhances the efficiency and security of DR, and empirical data illustrate substantial improvements in both cases. Furthermore, key challenges include scalability and interoperability, and also identifying opportunities to enhance consumer engagement and foster system transparency in the adoption of blockchain within DR and SGs. Finally, this work emphasizes the necessity for further investigation to address development hurdles and enhance the effectiveness of blockchain technology in sustainable energy management in SGs.

Keywords: demand response; blockchain technology; smart grids; peer-to-peer energy trading; energy efficiency; distributed ledger technology; sustainable energy management; microgrids; smart contracts; energy system innovation (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/1996-1073/17/5/1007/pdf (application/pdf)
https://www.mdpi.com/1996-1073/17/5/1007/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:17:y:2024:i:5:p:1007-:d:1342799

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().