Blockchain Technology (Billing and Energy Trading) in Smart Energy Grids (Energy Communities)
Blockchain Technology (Billing and Energy Trading) in Smart Energy Grids (Energy Communities)

Author(s): Mariya Bozhilova
Subject(s): Social Sciences, Economy, Business Economy / Management, Energy and Environmental Studies, Sociology, Social Informatics, Environmental interactions, ICT Information and Communications Technologies
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: blockchain technology; smart energy grids; peer-to-peer energy trading; decentralization; energy communities; billing systems
Summary/Abstract: The rapid transformation of the energy sector, driven by the adoption of renewable energy sources and the need for efficient management systems, has led to the emergence of smart energy grids. Blockchain technology, known for its decentralized and immutable characteristics, presents a promising solution for revolutionizing billing systems in energy communities. Focusing on what impetus blockchain can bring for increasing transparency, speeding up processes, and incepting trust among stakeholders, this paper explores the possible applications of blockchain to energy billing systems. The present paper does this by giving evidence from case studies – including but not limited to the Prosume project in Italy, LO3 Energy's Brooklyn Microgrid, and Power Ledger's xGrid platform – that clearly show the benefits of blockchain in enabling peer-to-peer energy trade automating billing processes, and improving data security. More importantly, it does so by inspiring the audience with the potential impact; blockchain technology contributes significantly to promoting sustainable energy practices. Equipping energy billing systems with blockchain technology will promote sustainability and improve productivity with only concerns related to scalability and some regulations. To help foster a wider adoption of blockchain solutions within smart energy grids – this study closes with recommendations for future research, standard development and regulatory framework.

• Details
• Contents