Toward blockchain-based renewable energy microgrid design considering default risk and demand uncertainty

Tsao, Yu‐Chung; Thanh, Vo-Van

doi:10.1016/j.renene.2020.09.016

Cited by 60 publications

(15 citation statements)

References 48 publications

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“…To the best of our knowledge, it is the first empirical analysis of the impact of renewable energy use on the banks’ default risk based on three measures of risk i.e., distance-to-default, distance to insolvency and distance to capital. The capital-intensive nature of renewable energy projects renders banks one of the most influential players in determining the growth and success of renewable energy usage and has intensified the researchers’ heed to deal with the risks and risk management of renewable energy projects (Gatzert and Kosub 2016 ; Tsao and Thanh 2021 ; Das and Basu 2020 ; Zhou and Yang 2020 ; Taghizadeh-Hesary and Yoshino 2020 ). We contribute to this debate from the lens of banks’ default risk based on an international sample of 20 countries.…”

Section: Introductionmentioning

confidence: 99%

Can Banks Sustain the Growth in Renewable Energy Supply? An International Evidence

et al. 2021

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Section: Introductionmentioning

confidence: 99%

Can Banks Sustain the Growth in Renewable Energy Supply? An International Evidence

et al. 2021

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“…Scott et al [38] carried out a study on the role of long-term uncertainty in electricity market modelling for renewable energy support policy evaluation. There are other studies that consider uncertainty in different aspects of renewable-related projects, such as load demand uncertainty [39,40]; renewable energy resources uncertainty [41,42]; uncertainties of the inflow of the hydropower plant and the PV power output [43]; wind energy uncertainty [44]; uncertainty in the costs of renewable energy [45]; uncertainties of wind speed, solar radiation intensity, and power load [46]; and uncertainties of renewable energy production and load demand [47].…”

Section: Literature Reviewmentioning

confidence: 99%

Investigating the Impact of Economic Uncertainty on Optimal Sizing of Grid-Independent Hybrid Renewable Energy Systems

et al. 2021

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One of the many barriers to decarbonization and decentralization of the energy sector in developing countries is the economic uncertainty. As such, this study scrutinizes economics of three grid-independent hybrid renewable-based systems proposed to co-generate electricity and heat for a small-scale load. Accordingly, the under-study systems are simulated and optimized with the aid of HOMER Pro software. Here, a 20-year average value of discount and inflation rates is deemed a benchmark case. The techno-economic-environmental and reliability results suggest a standalone solar/wind/electrolyzer/hydrogen-based fuel cell integrated with a hydrogen-based boiler system is the best alternative. Moreover, to ascertain the impact of economic uncertainty on optimal unit sizing of the nominated model, the fluctuations of the nominal discount rate and inflation, respectively, constitute within the range of 15–20% and 10–26%. The findings of economic uncertainty analysis imply that total net present cost (TNPC) fluctuates around the benchmark value symmetrically between $478,704 and $814,905. Levelized energy cost varies from an amount 69% less than the benchmark value up to two-fold of that. Furthermore, photovoltaic (PV) optimal size starts from a value 23% less than the benchmark case and rises up to 55% more. The corresponding figures for wind turbine (WT) are, respectively, 21% and 29%. Eventually, several practical policies are introduced to cope with economic uncertainty.

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“…The researchers in [63] used blockchain to reduce the risk when banks lend money to power companies. The proposed model identifies the number and location of renewable generation units, time-of-use energy pricing, and manufacturers.…”

Section: The Integration Of Blockchain With Artificial Intelligence (Ai)mentioning

confidence: 99%

Toward Blockchain Technology in the Energy Environment

et al. 2021

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Energy management and exchange have increasingly shifted from concentrated to hierarchical modes. Numerous issues have arisen in the decentralized energy sector, including the storage of customer data and the need to ensure data integrity, fairness, and accountability in the transaction phase. The problem is that in the field of the innovative technology of blockchain and its applications, with the energy sector still in the developmental stages, there is still a need for more research to understand the full capacity of the technology in the field. The main aim of this work was to investigate the state of the current research of blockchain technologies as well as their application within the field of energy. This work also set out to identify certain research gaps and provide a set of recommendations for future directions. Among these research gaps is the application of blockchain in decentralized storage, the integration of blockchain with artificial intelligence, and security and privacy concerns, which have not received much attention despite their importance. An analysis of fifty-seven carefully reviewed studies revealed that the emerging blockchain which provides privacy-protection technologies in cryptography and other areas that can be integrated to address users’ privacy concerns is another aspect that needs further investigation. Grid operations, economies, and customers will all learn from blockchain technology as it provides disintermediation, confidentiality, and tamper-proof transfers. Moreover, it provides innovative ways for customers and small solar generators to participate more actively in the electricity sector and to benefit from their properties. Blockchains are a rapidly evolving field of research and growth. A study of this emerging technology is necessary to increase comprehension, to educate the body of expertise on blockchains, and to realize its potential. This study recommends that future work investigates the potential application of blockchain in the energy sector as well as the challenges that face its implementation from the perspective of policy makers. This future approach will enable researchers to direct their focus to the case studies approach, which will facilitate and ease the application of blockchain technology.

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Toward blockchain-based renewable energy microgrid design considering default risk and demand uncertainty

Cited by 60 publications

References 48 publications

Can Banks Sustain the Growth in Renewable Energy Supply? An International Evidence

Can Banks Sustain the Growth in Renewable Energy Supply? An International Evidence

Investigating the Impact of Economic Uncertainty on Optimal Sizing of Grid-Independent Hybrid Renewable Energy Systems

Toward Blockchain Technology in the Energy Environment

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