Transactive Energy Blockchain Applications

Transactive Energy Blockchain Applications
Posted: 22 Feb 2019
M. Mylrea, D. Chassin, R. Bishop
Farrokh Rahimi
Session Type:
Pages: 71

The electric industry landscape is undergoing fundamental changes due to a combination of factors, which include the proliferation of Distributed Energy Resources (DERs), new technologies, electrification of transportation, and the emergence of increasingly savvy prosumers (consumers with distributed generation sources such as rooftop solar and energy storage). In this emerging electricity landscape, prosumers are increasingly demanding the freedom to trade electric energy with other prosumers or the utility as they please based on price and other value preferences they may have. The volume, frequency, variety, and variability of these transactions call for new methods for tracking, bookkeeping, settlement, and dispute resolution associated with such transactions. Transactive Energy platforms and Blockchain technology can collectively address these issues if properly designed and deployed.

The initially conceived Blockchain technology has potential drawbacks in terms of processing efficiency and computational burden to be usable in this context. However, the emerging
Energy Blockchain methods are not hampered with these inefficiencies. This panel session will address the following topics:

  • The emerging electric industry landscape and peer-to-peer Transactive Energy Systems
  • Blockchain elements, attributes, and functions
  • Potential uses of Blockchain in Transactive Energy systems
  • Use cases and Examples

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