Energy markets are evolving at a fast pace, with renewable energies taking the lead. With that, new technologies and energy business models are born, that require an efficient and trustful way to manage the fast evolution pace. Blockchain technology, with its decentralized and secure nature, provides the perfect framework to take the energy transformation landscape to the next level: proof-of-origin for Power Purchase Agreements, Smart Contracts to speed up buy-sell agreements, and proof-of-authenticity to provide transparency and reliability in audit processes.
Energy communities offer a means to re-structure our energy systems by harnessing energy and allowing citizens to participate actively in the energy transition and thereby enjoy greater benefits. Energy communities can take any form of legal entity, for instance that of an association, a cooperative, a partnership, a non- profit organization or a small/medium-sized enterprise. It makes it easier for its citizens, together with other market players, to team up and jointly invest in energy assets. This in turn, helps contribute to a more decarbonized and flexible energy system, as the energy communities can act as one entity and access all suitable energy markets, on a level-playing field with other market actors. Blockchain technology can provide the necessary tools to build local energy trading markets, creating new business opportunities to the future system of decentralized energy “prosumption” and overcome energy poverty
a GO is a green label or tracker that guarantees that one MWh of electricity has been produced from renewable energy sources. Guarantees of origin are traded. When a company buys guarantees of origin, as documentation for the electricity delivered or consumed, the guarantees of origin are cancelled in the electronic certificate registry. This single standardized instrument makes it possible to track ownership, verify claims and ensure that guarantees of origin are only sold once and that there is no double counting. Blockchain technology not only can ensure the proof-of-origin and authenticity of GOs, but also automatize its creation, trading and claims, saving timings and costs
During the design, construction and operational phases of an Energy Plant, different stakeholders are involved, each taking an important part in the process. Managing each phase in an orderly-fashion and with total visibility of each activity involved is a time-consuming tasks prone to errors and miscommunications. Thanks to blockchain, it is possible to have a layer of integration among parties involved that will create a unique chain of events, tracing each document, data and user through time and will provide an immutable photograph of the evolution of the project, so each department will be aligned
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