Ever since the introduction of renewables onto the grid, there have been associated and anticipated problems: Issues such as intermittency, inertia deficits and transmission/distribution line congestion (also called grid congestion). While the classical response to this is to build bigger and more infrastructure, the cost of this has led many to see a distributed architecture of the grid as the sensible solution. In order for it to work properly, without spending a fortune on unlimited batteries, we need a very agile market. In this future, you have distributed energy and decentralised markets that include energy, ancillary and network services. 

Although that proposition is not controversial, there are those that say that a conventional system will suffice while we and others argue that only a decentralised blockchain system will prove to be better and efficient. We argue that the rapidly emerging and more complex energy landscape demands a shift from traditional centralised databases to blockchain and the new and decentralised markets they unlock. Realising this is fundamental to saving lots on battery capacity by using the existing resources better.

The report examines how blockchain technology aligns with these trust-building mechanisms and revolutionises the energy sector. 

"The potential of blockchain technology in the energy sector is immense," said Professor Sinclair Davidson, from RMIT University, report contributor and blockchain expert. "By combining the power of distributed technology with a blockchain accounting system, we can unlock a more sustainable and efficient energy ecosystem. This report aims to provide a comprehensive understanding of blockchain's role in creating trust within the energy and grid landscape."

As the energy sector transitions towards a greener future, blockchain emerges as a transformative force, empowering individuals and organisations to collaborate effectively, share information seamlessly, and support one another. By fostering trust, blockchain technology lays the foundation for a resilient and sustainable energy infrastructure.

To access the full Global Smart Energy Forum report, "Blockchain for Electric Utilities: A Path to a Lower Carbon Future," please visit- http://globalsmartenergy.org/report/category/21

GSEF and Powerledger's collaborative report explores blockchain's potential in electric utilities, backed by case studies showcasing real-world applications. Learn more about this report in an insightful webinar where Dr Jemma Green, the Co-founder and Chairman of Powerledger, Reji Pillai (President of the India Smart Grid Forum), and Sinclair Davidson (Co-Founder of the Blockchain Innovation Hub and Director of Cryptoeconomics Australia) discuss the transformative impact of blockchain in the energy sector.

Watch the full webinar here-

‍About GSEF‍

Global Smart Energy Federation (GSEF) is a global stakeholder organisation of national smart grid associations, forward-looking utilities, and think tanks from around the globe working in the domains of energy transition and clean transportation. By linking the major public-private stakeholder initiatives of participating countries, think tanks and progressive utilities, the federation shares practices, identifies barriers and solutions, fosters innovation, and addresses key technology standards and policy issues. The activities of GSEF help member organisations and their member utilities in their energy transition and grid modernisation initiatives that enhance access to affordable clean energy and increase the security, flexibility and resiliency of the power systems while reducing emissions.