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Scientific Article details

Title Blockchain Technology for Renewable Energy: Principles, Applications and Prospects
ID_Doc 29927
Authors Juszczyk, O; Shahzad, K
Title Blockchain Technology for Renewable Energy: Principles, Applications and Prospects
Year 2022
Published Energies, 15.0, 13
DOI 10.3390/en15134603
Abstract Blockchain, or distributed ledger, is an innovative technology that is emerging in various sectors and industries across the globe. It has attracted the attention of different interest groups such as energy companies, SMEs and start-ups, information technology developers, financial institutions, national authorities, and the university community. Through, for example, the decentralization of authority in transactions, Internet of Things (IoT) implementation, and smart contracting, the improvement of the daily business operations is firmly forecasted. In the energy sector, digitalization is already present in solutions such as smart grids, smart meters, electric vehicles, etc. Moreover, a new concept of the Internet of Energy (IoE) has been introduced in the academic literature. In this article, the level of trust and maturity of Blockchain technology implementation is investigated through the Blockchain Maturity Questionnaire, developed by the authors. The database consists of responses from upper management professionals from the renewable energy industry. The analysis reveals the state of know-how about Blockchain, the main benefits and bottlenecks associated with its implementation as well as willingness to integrate this technology in the case companies' future operations. The insight from the industry experts helped to provide a "Roadmap for Blockchain Adoption" in future energy systems. This curiosity study yields numerous applications not only for the renewable energy industry experts but also for the interest groups coming from different industries, as well as public authorities and researchers scrutinizing the fields taken into its scope.
Author Keywords blockchain; technology adoption; business models; peer-to-peer (P2P); distributed energy; smart contract; energy digitalization; renewable energy; circular economy; Finland
Index Keywords Index Keywords
Document Type Other
Open Access Open Access
Source Science Citation Index Expanded (SCI-EXPANDED)
EID WOS:000824274600001
WoS Category Energy & Fuels
Research Area Energy & Fuels
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