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Distributed Renewable Energy Management: A Gap Analysis and Proposed Blockchain-Based Architecture.

Annegret Henninger¹, Atefeh Mashatan¹

¹Ted Rogers School of Management, Ryerson University, 350 Victoria St., Toronto, ON M5B 2K3, Canada; amashatan@ryerson.ca.

Journal of Risk and Financial Management

|August 1, 2022

Summary

This summary is machine-generated.

Blockchain technology offers solutions for managing decentralized renewable energy grids. This paper proposes a hybrid architecture using blockchain, verifiable credentials, and smart contracts for enhanced grid management and interoperability.

Keywords:

IT architecture IT infrastructure P2P blockchain decentralized IDs (DID)grid management microgrid renewable energy smart grid verifiable credentials (VC)

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Area of Science:

Energy Systems
Information Technology
Distributed Ledger Technology

Background:

Traditional IT infrastructure struggles with the complexity of decentralized renewable energy sources.
Existing grid systems face challenges in managing heterogeneous and distributed energy generation.

Purpose of the Study:

To analyze the current state of grid infrastructure and propose a blockchain-enabled future state.
To identify architectural requirements for a blockchain-enhanced grid.
To present a novel hybrid architecture for renewable energy systems.

Main Methods:

Overview of current grid system technology layers.
Gap analysis between traditional and blockchain-enabled infrastructures.
Development of architectural requirements for a blockchain future state.
Proposal of a hybrid architecture integrating blockchain, verifiable credentials, and smart contracts.

Main Results:

Identification of key challenges in current grid IT infrastructure for renewable energy.
A proposed set of architectural requirements for a future blockchain-enabled grid.
A novel hybrid architecture designed to support critical renewable energy layers.
Demonstration of the architecture's capability to manage system architecture, registries, grid management, billing, privacy, and interoperability.

Conclusions:

Blockchain technology is crucial for addressing the limitations of centralized IT in renewable energy grids.
The proposed hybrid architecture offers a viable solution for secure, interoperable, and efficient grid management.
This approach uniquely supports essential technological layers for the integration of renewable energies.