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UNIVERSITY OF BUCHAREST
FACULTY OF PHYSICS Guest
2024-11-22 2:07 |
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Conference: Bucharest University Faculty of Physics 2018 Meeting
Section: Physics and Technology of Renewable and Alternative Energy Sources
Title:
The impact of blockchain technology in the energy sector
Authors:
Răzvan BALICA(1), Sanda VOINEA(1,2), Ştefan-Marian IORDACHE(2)
Affiliation:
1) University of Bucharest, Faculty of Physics, PO Box MG-38, Bucharest-Măgurele, Romania
2) 3Nano-SAE Research Center, PO Box MG-38, Bucharest-Măgurele, Romania
E-mail
razvanbalica@outlook.com
Keywords:
energy, green energy, blockchain, innovation
Abstract:
Energy systems may transition to a more decentralized model in order to accommodate heterogeneous but competitive energy sources and energy storage systems (ESS). This will enable peer-to-peer energy transactions through microgrid architectures. The peer-to-peer concept means that all transactions are stored on a network consisting of the computers of the provider and customer participating in a transaction. The environmental impact of energy generation has been extensively scrutinized to identify new technologies that rely more on renewable sources and less on fossil fuel resources. In utilities, blockchain-based technology can be applied to numerous processes, such as energy credit management, the promotion of green energy, asset optimization, payments within microgrids, prepaid smart meters and payments to distributed generation asset owners. The aim of this paper is to analyse the potential impact of blockchain technology on the energy sector and to explore what opportunities it may hold for the energy consumers.
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