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Impact of Blockchain Technology on Smart Grids

Author

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  • Hamzah Khan

    (Institute for Manufacturing, University of Cambridge, 17 Charles Babbage Road, Cambridge CB3 0FS, UK
    Tesla Inc., 1 Electric Ave., Sparks, NV 89502, USA)

  • Tariq Masood

    (Institute for Manufacturing, University of Cambridge, 17 Charles Babbage Road, Cambridge CB3 0FS, UK
    Department of Design, Manufacturing and Engineering Management, University of Strathclyde, 75 Montrose Street, Glasgow G1 1XJ, UK)

Abstract

Energy systems are transforming due to the incorporation of multiple distributed energy resources, such as renewable energy and battery storage systems. This transformation has triggered a need to shift power distribution from a low efficiency centralized model with high coordination costs to a decentralized distribution system comprising smart grids. Researchers have discovered a number of uses for blockchain technology in the energy sector because of its decentralized structure and possibility for safe transactions. In order to pinpoint current trends and important research directions in this area, this article thoroughly examines the effects of blockchain technology on smart grids and distributed energy resources. The aim of this paper is also to identify research gaps and future research initiatives in the area of blockchain-based energy distribution. To do this, 92 research publications were subjected to a comprehensive literature review based on predetermined criteria. Transactive Energy, Electric Vehicle Integration, Privacy and Security, and Demand Response, together with some other relatively fresh and unexplored topics, were, therefore, highlighted as four major focal areas of blockchain energy research. We have also drawn attention to the gaps in the research that has already been done and the constraints imposed by present systems that must be removed before blockchain technology can be widely used.

Suggested Citation

  • Hamzah Khan & Tariq Masood, 2022. "Impact of Blockchain Technology on Smart Grids," Energies, MDPI, vol. 15(19), pages 1-27, September.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:19:p:7189-:d:929428
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    References listed on IDEAS

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    Cited by:

    1. Vidya Krishnan Mololoth & Saguna Saguna & Christer Åhlund, 2023. "Blockchain and Machine Learning for Future Smart Grids: A Review," Energies, MDPI, vol. 16(1), pages 1-39, January.
    2. Daniel Sousa-Dias & Daniel Amyot & Ashkan Rahimi-Kian & John Mylopoulos, 2023. "A Review of Cybersecurity Concerns for Transactive Energy Markets," Energies, MDPI, vol. 16(13), pages 1-32, June.
    3. Wenbing Zhao & Quan Qi & Jiong Zhou & Xiong Luo, 2023. "Blockchain-Based Applications for Smart Grids: An Umbrella Review," Energies, MDPI, vol. 16(17), pages 1-35, August.

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