A comprehensive review of energy blockchain: Application scenarios and development trends

Teng, Fei; Zhang, Qi; Wang, Ge; Liu, Jiangfeng; Li, Hailong

doi:10.1002/er.7109

Cited by 25 publications

(20 citation statements)

References 97 publications

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“…Furthermore, various blockchain scalability methods are investigated in order to explore multiple choices for the conversion of P2P energy trading platforms (Luu et al, 2016;Ledger 2018). However, salability has not been confirmed (Teng et al, 2021). Unlike many existing studies that only report on the base layer model (Jiang et al, 2021;Lu et al, 2022), we consider both the blockchain base layer model and the second layer solution.…”

Section: Research Motivationmentioning

confidence: 98%

Carbon emission and cost of blockchain mining in a case of peer-to-peer energy trading

Coutinho¹,

Wongthongtham

Abu-Salih

et al. 2022

Front. Built Environ.

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Blockchain is an emerging technology that has demonstrated great uptake potential in Peer-to-Peer (P2P) energy trading. The revolution of blockchain brings substantial benefits and innovation to sustainability energy transitions through P2P trading. Blockchain enables energy commodities to be traded. However, perceptions of this technology’s impact on the environment and its associated costs have garnered recent adverse publicity. This paper aims to look at the linkages between blockchain technology and energy systems in terms of blockchain power consumption against blockchain advantage over renewable energy transitions via peer-to-peer energy trading. The amount of energy used and carbon released during the blockchain validation process is estimated, and the cost of blockchain is computed to assess its economic benefit in a peer-to-peer energy trading scenario. Real data from running peer-to-peer energy trading systems are used, and numerous insights on the transformation of peer-to-peer energy trading utilising various blockchain scaling methods are provided. Based on the analysis, this paper concludes that the cost of processing trading transactions is lower using blockchain than current coordination costs. Also, blockchain-based energy can be traded more frequently than current regulations allow in order to reap the full benefits of renewable energy. A secure blockchain-enabled P2P trading environment would lead to fair rates for energy providers and prosumers resulting in stimulating the renewable energy market.

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Section: Research Motivationmentioning

confidence: 98%

Carbon emission and cost of blockchain mining in a case of peer-to-peer energy trading

Coutinho¹,

Wongthongtham

Abu-Salih

et al. 2022

Front. Built Environ.

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“…Additionally, another study conducted in China found that the use of multi-cycle development planning in renewable energy systems is very effective in enhancing the implementation of the systems as it reduces the lead time for sourcing materials and deployment of the plan. Also, it helps in making renewable systems more efficient and safer to operate over long hours [34,35].…”

Section: Technical Advantages Of Multi-cycle Production Development P...mentioning

confidence: 99%

Multi-Cycle Production Development Planning for Sustainable Power Systems to Maximize the Use of Renewable Energy Sources

et al. 2022

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This research focuses on the multi-cycle production development planning for sustainable power systems to maximize the usage of renewable energy sources. The intention of this study is to offer a comprehensive review of the research on the potential of multi-cycle production development planning for the development of sustainable power systems. In pursuit of this objective, the study has incorporated a qualitative research approach to analyze the volume of data available on the research topic to delineate how multi-cycle production development planning can be used for sustainable power systems and the maximization of the use of renewable energy sources. The study also highlights the major models that can be incorporated into the multi-cycle production development planning for sustainable power systems to maximize the use of renewable energy sources. The existing literature was extracted from databases, namely, Google Scholar, EBSCOHost, and Springer. The data comprised peer-reviewed journal articles, books, and credible online sources. Lastly, the practical and theoretical relevance of the study, along with limitations and recommendations for future practitioners, is provided in the conclusion. Doi: 10.28991/CEJ-2022-08-11-018 Full Text: PDF

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“…Blockchain is an underlying technology that supports distributed ledger services, which includes data storage structure, network protocol, distributed ledger, encryption algorithm, consensus mechanism, and smart contract [2]. In the energy sector, on the one hand, the blockchain acts as a distributed database to ensure Information and privacy, and on the other hand, due to the strong technical support within the blockchain, it can be used for distributed energy transactions, plugging and unplugging of electric vehicles, and supporting Carbon trading and green certificates [3]. Although blockchain technology plays a huge role in the energy market, there are still many challenges.…”

Section: Introductionmentioning

confidence: 99%

Access control strategy based on smart contract in blockchain-based energy market

Jiang

2023

International Conference on Cyber Security, Artificial Intelligence, and Digital Economy (CSAIDE 2023)

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In recent years, the continuous increase in the number of renewable energy sources and users has led to an increase in the load on the electricity market. In this environment, the personal information data and management flexibility cannot be guaranteed in a market that integrates producers and consumers. It seems that the new energy market will face many challenges, such as how to price the output power of power plants according to different energy sources, which price that consumers can sell to other market users through self-generated electricity, how to communicate with consumers and producers in order to maintain the balance of the market and encourage consumers to reduce electricity consumption, how to calculate the market load in order to reduce carbon emissions and protect the environment. In the face of many of the above challenges, it is beneficial to introduce blockchain technology into the energy market because of the unique characteristics, which effectively reduces the cost of maintaining the market and enhances the flexibility of the market. But different market users are sensitive to market information with the advent of information transparency. Therefore, how to restrain the user behavior of the market and maintain the stability of the market will become a major problem. In this paper, we propose a market-based access control strategy to construct a blockchain framework and design an access control-based smart contract to constrain the behavior of each user. In order to further strengthen the relationship between producers and consumers, the concept of prosumer is used to enable consumers to participate in trading activities as energy producers.The experimental results are proved that the proposed solution works successfully in the blockchain, with timely responses between prosumers and consumers, good execution time and the admission of access control provides better market efficiency.

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A comprehensive review of energy blockchain: Application scenarios and development trends

Cited by 25 publications

References 97 publications

Carbon emission and cost of blockchain mining in a case of peer-to-peer energy trading

Carbon emission and cost of blockchain mining in a case of peer-to-peer energy trading

Multi-Cycle Production Development Planning for Sustainable Power Systems to Maximize the Use of Renewable Energy Sources

Access control strategy based on smart contract in blockchain-based energy market

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