An overview of the applications of blockchain technology in the energy sector

Abstract

The development of the smart grid means the inclusion of Renewable Energy Sources (RES), storage systems, smart-meters, electrical vehicles, prosumers. Blockchain technology can contribute to the implementation of such a complex system with different users. Various blockchain solutions can be used to support distributed energy systems, connect smart devices, control the charging of electric vehicles, monitor carbon production, issue green certificates and manage the network. Smart contracts allow many important energy system operations to be performed in the blockchain, such as P2P (Peer-2-Peer) trading, decentralised market, and control. This work presents inventive solutions for blockchain-based systems. Emerging technologies such as IoT, AI, 5G, big data, cloud computing are started to be integrated with blockchain, which could induce a transformation of the energy sector in many aspects.