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Energy blockchain research | energy blockchain promotes the development of smart energy communities

Time : 07/11/2021 Author : spc8jh Click : + -
        By the end of 2020, bitcoin has reached a new height, and many analysts expect its price to continue to soar. In this case, digital currency and blockchain have regained the headlines. The application prospect of blockchain technology is still not very clear. This situation is similar to that of the Internet in those days. They are all new things for people. Blockchain is an encrypted point-to-point account book, which is used for information recording and does not require the participation of third parties. Therefore, blockchain can help industries facing decentralized development such as energy. Guidehouseinsights investigated the use of this technology by participants in the energy and technology industry in its report.
        The smart energy community has tried blockchain to promote and record energy transactions, with mixed results. While technology helps consumers, many start-ups trying to develop technology-based blockchain products have been forging ahead in the existing regulatory environment. The data storage system of blockchain is still of great significance for the future of smart energy. It can reduce transaction costs, is expected to achieve transaction automation, and increase the source of income for everyone of distributed energy technology. Theoretically, an important function of smart energy community to attract consumers is that it can produce, store and use energy locally. From a technical perspective, with the help of distributed energy production, battery energy storage and smart meters in the microgrid, neighbors can buy and sell electricity in their own micro market.
        However, due to regulatory and market reasons, this is difficult to achieve, but the use of blockchain can be very effective in tracking the energy flow between neighbors. The solar energy trading project in Brooklyn, New York tried this blockchain based system, but the end products eventually had to reduce their local market share. A similar blockchain based solar trading project was launched in London, UK, in 2018, and it also fell into regulatory difficulties. Smart energy community and blockchain complement each other, and they are further developing towards decentralization in their respective fields. This is a development trend that runs counter to the current mainstream market model. Utility companies and grid operators have always been both power suppliers and reliable departments that track energy consumption.
        Existing energy market participants have long enjoyed control, and their position is almost unshakable. With the end of this situation, energy consumers and the government have put forward new demands, and the conflict with the old business model is intensifying. How to solve this conflict has attracted continuous attention. Utility companies say they are not completely opposed to the use of blockchain. In fact, about one-third of the energy blockchain pilot projects involve utility companies. The transition to an intelligent energy system based on blockchain may lead to decentralization of supply and management. The unchanging market and regulation is the biggest obstacle to this transformation. As start-ups and established companies continue to explore this technology, it is gradually clear how blockchain can be integrated into the energy world.
        Obviously, the decentralized characteristics of smart energy community and the recording system of blockchain can be developed in synergy.
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