Blockchain is shaping the future of energy infrastructure services
Blockchain is shaping the future of energy infrastructure services
Blockchain is a decentralised, ultra-secure transactional technology used in conjunction with smart grids to intelligently manage the electricity networks of tomorrow.
TAKING UP THE CHALLENGE
Automating network management
Benchmark figure
A 12 billion dollar market
Estimated at 208 million dollars in 2017, the market value of blockchain in the energy world is set to leap by an average 78% every year, nudging $11.9 billion in 2024, according to Zion Market Research.
In order to encourage cross-border e-mobility, in 2017 European operators (including Iziva by EDF) trialled blockchain developed by the German company MotionWerk. Its aim is to simplify recharging in the face of increasingly complex access and payment methods, due to the fragmentation of the charging-station network. Using a customer blockchain installed on operators’ IS, the solution provides a decentralised messaging system to operate data authorisations and sharing. Drivers identify themselves on their mobile app at any charging point belonging to any operator, and pay using a virtual wallet according to the price options offered. This solution means that e-mobility customers have a vast selection of charging stations to choose from, without having to worry about suppliers and payment methods.
As part of a collective own-consumption project, co-owners are joining forces to use the electricity produced through photovoltaic panels. A blockchain is used in conjunction with IT infrastructure (smart meters, sensors, IS) to trace production flows and distribute them among participants in line with the agreed rules. Network management also have access to analysis keys, so as to determine the flows attributed to each user for the purposes of invoicing and managing surplus redistribution. Fed back to users, consumer data then asks customers to synchronise certain energy uses with peak production periods (activating hot water cylinders, charging electric vehicles, etc.). The benefits include energy autonomy, potential savings and a greater awakening of ecological conscience.
To guarantee to its customers that the energy consumed is definitely from renewable sources, energy suppliers adopt an invoice settlement solution to replace the guarantee of origin with a digital form of proof that can be viewed on a decentralised register. The solution establishes a direct link between production data and consumption data by using tokens (a payment method in this case), which can be exchanged on a blockchain. These digital tokens ensure that the value is transferred from the consumer account to that of the electricity producer. Consumption is measured in 30-minute increments so as to offset any renewable-energy intermittence and to distribute invoice payments as fairly as possible between the various producers concerned.