Blockchain applications in microgrids an overview of current projects and concepts

Reference Type:

Conference Paper

Formatted Reference:

Published In:

Institute of Electrical and Electronics Engineers

Year:

2017

Author(s):

A. Goranović
M. Meisel
L. Fotiadis
S. Wilker
A. Treytl
T. Sauter

Download Reference:

Search for the Publication In:

Source:

Since the release of Bitcoins as crypto currency, Bitcoin has played a prominent part in the media. However, not Bitcoin but the underlying technology blockchain offers the possibility to innovatively change industries. The decentralized structure of the blockchain is particularly suitable for implementing control and business processes in microgrids, using smart contracts and decentralized applications. This paper provides a state of the art survey overview of current blockchain technology based projects with the potential to revolutionize microgrids and provides a first attempt to technically characterize different start-up approaches. The most promising use case from the microgrid perspective is peer-to-peer trading, where energy is exchanged and traded locally between consumers and prosumers. An application concept for distributed PV generation is provided in this promising area.