Blockchain-based balance settlement ledger for energy communities in open electricity markets

Nykyri, Mikko; Kärkkäinen, Tommi J.; Levikari, Saku; Honkapuro, Samuli; Annala, Salla; Silventoinen, Pertti

doi:10.1016/j.energy.2022.124180

Cited by 24 publications

(6 citation statements)

References 33 publications

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“…There is a need for more critical analyses that also consider the socio-political, ethical, and environmental implications of integrating blockchain into energy systems. For instance, while blockchain can enhance the efficiency of energy systems, it also comes with a significant energy consumption and environmental footprint [ [193] , [194] , [195] ], which must be critically assessed in the context of renewable energy goals. Lastly, the practical implementation of research findings in real-world scenarios remains a crucial aspect.…”

Section: Discussionmentioning

confidence: 99%

Blockchain technology in the renewable energy sector: A co-word analysis of academic discourse

Rejeb,

Zrelli

et al. 2024

Heliyon

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Section: Discussionmentioning

confidence: 99%

Blockchain technology in the renewable energy sector: A co-word analysis of academic discourse

Rejeb,

Zrelli

et al. 2024

Heliyon

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“… PV Technology: In relation to Photovoltaic technology and blockchain, "Energy markets worldwide are going through a major change as small-scale photovoltaic (PV) system installations are becoming increasingly common. The cost of solar panels has gradually decreased which increases interest among consumers and real estate developers to invest in PV systems" (Nykyri et al, 2022). A blockchain-based balance settlement ledger and the creation of an energy community with mutually agreed-upon energy sharing rules can help overcome the issues of efficient co-owned local PV energy sharing inside a housing cooperative (Nykyri et al, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

“…The cost of solar panels has gradually decreased which increases interest among consumers and real estate developers to invest in PV systems" (Nykyri et al, 2022). A blockchain-based balance settlement ledger and the creation of an energy community with mutually agreed-upon energy sharing rules can help overcome the issues of efficient co-owned local PV energy sharing inside a housing cooperative (Nykyri et al, 2022). 2.…”

Section: Literature Reviewmentioning

confidence: 99%

A Systematic Review on Development of Blockchain Technology Across Different Sectors

2022

IRJMETS

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Blockchain was first thought of as a way to develop Bitcoin, a trustless cryptocurrency. Since then, it has moved beyond its original intent as more and more industries and interested parties see it as a method for resolving current business problems and re-stabilize mature industries. Across this study, we conduct a systematic literature review of blockchain-based applications in various sectors. The purpose of this study is to examine how blockchain has progressed over the years, its current status, what uses it has found, and how its distinctive qualities can revolutionize the way "business as usual" is done. Therefore, this review incorporates the theoretical underpinnings of a considerable number of research papers published in highly regarded scientific journals over the years, in an effort to streamline our evaluation and encompass the rapidly growing blockchain domain. We provide an extensive identification of blockchain-enabled applications covering supply chain, finance, healthcare, energy, and cloud-storage industries. This classification is premised on an organized, systematic review and conceptual data analysis of the identified publications. Additionally, we define major themes, developments, and arising areas for further research. Based on these results, we propose a number of new research avenues that will likely prove useful to scholars and professionals alike. The findings of this research suggest that the distinctive characteristics of blockchain technology, such as confidentiality, encryption, anonymity, decentralization, and authenticity, offer significant advantages to a wide range of domains and spheres of study.

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“…Such model of free contract energy is also discussed worldwide. For instance, Nykyri (2022) proposes the use of blockchain based balance settlement in open electricity markets. Besides, the blockchain mitigates the need for any central entity for balance settlement and ensure fair sharing energy (NYKYRI, 2022).…”

Section: Introductionmentioning

confidence: 99%

“…For instance, Nykyri (2022) proposes the use of blockchain based balance settlement in open electricity markets. Besides, the blockchain mitigates the need for any central entity for balance settlement and ensure fair sharing energy (NYKYRI, 2022). This work demonstrates that the regulatory problems can be overcome with this strategy.…”

Section: Introductionmentioning

confidence: 99%

Optimized allocation of self-generated energy: a case study of a brazilian company

Lima¹,

Marques²,

Machado³

et al. 2023

Rev. Car. Cien. Soc.

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Usually, agents in the Free Energy Contracting Environment (ACL) in Brazil, as self-producers and independent producers with their loads, must be carried out an accounting routine named allocation of self-generated energy (AGP). Considering the lack of specific works to solve such typical and necessary routines of these agents, this work presents a methodology to optimize the allocation of self-generated energy. The main contributions of this work are: (i) the elaboration of the allocation of self-generated mechanism as an optimization problem; (ii) development of a free software that provides the values to be allocated to each consumer unit in order to obtain the greatest gain with the distribution of the agent’s generation and (iii) enable an allocation analysis in order to obtain the predictability of earnings with allocation in a given future period. In case study, we used data based on a large Brazilian organization in the Steel/Metallurgy/Mining sectors. In a comparative analysis, the simulation using the optimization process guarantee a financial gain of 17%, which represents savings of 3.6 million in Brazilian currency.

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Blockchain-based balance settlement ledger for energy communities in open electricity markets

Cited by 24 publications

References 33 publications

Blockchain technology in the renewable energy sector: A co-word analysis of academic discourse

Blockchain technology in the renewable energy sector: A co-word analysis of academic discourse

A Systematic Review on Development of Blockchain Technology Across Different Sectors

Optimized allocation of self-generated energy: a case study of a brazilian company

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