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
08-Jan-2018
North America
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.Click image to view it in full size
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
Popular Topics
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
No Index | No |
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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 |