Digital Grid—Capitalizing on Opportunities with Blockchain Technology

Digital Grid—Capitalizing on Opportunities with Blockchain Technology

Impact of the Emerging Blockchain Technology on Utility Performance

RELEASE DATE
08-Jan-2018
REGION
North America
Research Code: K231-01-00-00-00
SKU: EG01851-NA-MR_21433
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Description

Frost & Sullivan’s upcoming study on Blockchains takes an in-depth look at the addressable market for its existing applications along with emerging energy applications. The energy sector has seen significant changes over the past few decades across verticals such as generation, distribution, storage, and consumption. It continues to transition from fossil-fuel based centralized generation to renewable and distributed generation. There is a also a shift from centrally-owned and -operated power generation to small-scale commercial generation and 'prosumers', whose power flows are bidirectional. Both these forces combine to create significant challenges for the electricity grid’s design, with legacy infrastructure struggling to offer the required flexibility.

Key Features

A key trend influencing the uptake of Blockchain-related services in the US is the high rate of advanced metering infrastructure (AMI) adoption. States with high penetration of residential AMI meters are more likely to engage in peer-to-peer (P2P) energy transactions and adopt Blockchain platforms to execute them. Of the states with the highest AMI penetration, California and Georgia have the most number of distributed solar PV installations in the country. This makes them the most probabale adopters of Blockchain technology for P2P energy transactions.


Research Benefits

Blockchain platforms that allow utilities to empower consumers to simply trade electricity with each other and settle payments with the help of an automated and decentralized system. (repetition) Therefore, this decentralized marketplace will enable utilities to lower their capital expenditure on renewable energy generation, and consumers to enjoy reduced energy bills. Some of the key challenges associated with Blockchain adoption are the uncertain regulatory status of crypto-currencies and transactive energy, nascent stages of technology/product development, and the need for a smart grid communication infrastructure.

Blockchain can also serve as a back-end platform for utilities to track and execute the following transactive energy applications:

  • Billing platform for retail sales and net metering
  • Platform for P2P trading and renewable energy certification
  • International energy trading
  • Electric vehicle and Vehicle-to-Grid
  • Customer management

Key Issues Addressed

Blockchain can provide disruptive technology solutions to address the following requirements

  • Data coordination between a range of grid and behind-the-meter assets
  • A secure automated trading platform
  • Open access for innovative products and services.

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Key Findings

Key Findings (continued)

Transactive Energy—Overview

Possibilities for Transactive Energy

What is Blockchain?

How Does Blockchain Work?

Identification of Five Different Application Opportunities for Blockchain in the Digital Grid Sector

Key Impact of Blockchain in the Electric Utility Industry

Benefits of Blockchain in the Electric Utility Industry

Challenges of Blockchain in the Electric Utility Industry

Energy Use Case—Billing Platform for Retail Sales and Net Metering

Energy Use Case—Billing Platform for Retail Sales and Net Metering (continued)

Energy Use Case—Billing Platform for Retail Sales and Net Metering (continued)

Energy Use Case—Billing Platform for Retail Sales and Net Metering (continued)

Energy Use Case—Platform for P2P Trading and Renewable Energy Certification

Energy Use Case—Platform for P2P Trading and Renewable Energy Certification (continued)

Energy Use Case—Platform for P2P Trading and Renewable Energy Certification (continued)

Energy Use Case—Platform for P2P Trading and Renewable Energy Certification (continued)

Energy Use Case—International Energy Trading

Energy Use Case—International Energy Trading (continued)

Trends—Advanced Metering Infrastructure (AMI) (Residential)

Trends—Advanced Metering Infrastructure

Companies to Watch

Companies to Watch (continued)

Case Study—Brooklyn Microgrid

Case Study—Oxygen Initiative

Case Study—United States Department of Energy

Growth Opportunity 1—EVs and Vehicle-to-Grid

Growth Opportunity 2—Customer Management

Strategic Imperatives for Growth in the Energy Blockchain Industry

The Last Word

Legal Disclaimer

List of Exhibits

The Frost & Sullivan Story

Value Proposition: Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
Frost & Sullivan’s upcoming study on Blockchains takes an in-depth look at the addressable market for its existing applications along with emerging energy applications. The energy sector has seen significant changes over the past few decades across verticals such as generation, distribution, storage, and consumption. It continues to transition from fossil-fuel based centralized generation to renewable and distributed generation. There is a also a shift from centrally-owned and -operated power generation to small-scale commercial generation and 'prosumers', whose power flows are bidirectional. Both these forces combine to create significant challenges for the electricity grid’s design, with legacy infrastructure struggling to offer the required flexibility.--BEGIN PROMO--

Key Features

A key trend influencing the uptake of Blockchain-related services in the US is the high rate of advanced metering infrastructure (AMI) adoption. States with high penetration of residential AMI meters are more likely to engage in peer-to-peer (P2P) energy transactions and adopt Blockchain platforms to execute them. Of the states with the highest AMI penetration, California and Georgia have the most number of distributed solar PV installations in the country. This makes them the most probabale adopters of Blockchain technology for P2P energy transactions.

Research Benefits

Blockchain platforms that allow utilities to empower consumers to simply trade electricity with each other and settle payments with the help of an automated and decentralized system. (repetition) Therefore, this decentralized marketplace will enable utilities to lower their capital expenditure on renewable energy generation, and consumers to enjoy reduced energy bills. Some of the key challenges associated with Blockchain adoption are the uncertain regulatory status of crypto-currencies and transactive energy, nascent stages of technology/product development, a

More Information
No Index No
Podcast No
Author Naren Pasupalati
Industries Energy
WIP Number K231-01-00-00-00
Is Prebook No
GPS Codes 9301-A4,9597,9851,9852,9A37-C1,9AA5-C1,9AFF-A4,9B00-A4,9B07-C1,GETE