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Distributed Ledger Technologies for the energy sector: facilitating interoperability analysis
(2023)
The use of distributed data storage and management structures, such as Distributed Ledger Technologies (DLT), in the energy sector has gained great interest in recent times. This opens up new possibilities in e.g. microgrid management, aggregation of distributed resources, peer-to- peer trading, integration of electromobility or proof-of-origin strategies. However, in order to benefit from those new possibilities, new challenges have to be overcome. This work focuses on one of these challenges, which is the need to ensure interoperability when integrating DLT-enabled devices in energy use cases. Firstly, the use of DLTs in the energy sector will be analyzed and the main use cases will be presented. Then, a classification of DLT-Energy use cases will be proposed. Secondly, the need for a common reference architecture framework to analyze those use cases with a focus on interoperability will be discussed and the current activities in research and standardization in this field will be presented. Finally, a new common reference architecture framework based on current activities in standardization will be presented.
The diversity of energy prosumer types makes it difficult to create appropriate incentive mechanisms that satisfy both prosumers and energy system operators alike. Meanwhile, European energy suppliers buy guarantees of origin (GoO) which allow them to sell green energy at premium prices while in reality delivering grey energy to their customers. Blockchain technology has proven itself to be a robust paying system in which users transact money without the involvement of a third party. Blockchain tokens can be used to represent a unit of energy and, just as GoOs, be submitted to the market. This paper focuses on simulating marketplace using the ethereum blockchain and smart contracts, where prosumers can sell tokenized GoOs to consumers willing to subsidize renewable energy producers. Such markets bypass energy providers by allowing consumers to obtain tokenized GoOs directly from the producers, which in turn benefit directly from the earnings. Two market strategies where tokens are sold as GoOs have been simulated. In the Fix Price Strategy prosumers sell their tokens to the average GoO price of 2014. The Variable Price Strategy focuses on selling tokens at a price range defined by the difference between grey and green energy. The study finds that the ethereum blockchain is robust enough to functions as a platform for tokenized GoO trading. Simulation results have been compared and the results indicate that prosumers earn significantly more money by following the Variable Price
Strategy.