For the energy transition to be effective, we need sustainable technologies that support decentralisation, energy efficiency, renewable energy production, and demand flexibility. Blockchain is emerging as one such technology, as it has the potential to transform energy services. However, to exploit the opportunities offered by blockchain, innovative business models need to be developed.
A research paper, written as part of the InEExS project, investigates the opportunities and the risks that emerge from the adoption of blockchain in four innovative business models, while also identifying mitigation strategies to support and accelerate the energy transition.
The business models concern Energy Performance Contracting with P4P guarantees, improved self-consumption in energy cooperatives, energy efficiency and flexibility services for natural gas boilers, and smart energy management for EV chargers and HVAC appliances.
The research demonstrates that blockchain integration within these business models can significantly:
– Improve energy efficiency
– Reduce operational costs
– Enhance security
– And support a more decentralised energy system
Strategies to address risks relevant to blockchain exploitation include ensuring policy alignment, emphasising economic feasibility, facilitating social inclusion, prioritising security and inter- operability, consulting with legal experts, and using consensus algorithms with low energy consumption.
The findings offer clear guidance for energy service providers, policymakers, and technology developers, assisting in the design, deployment, and risk mitigation of blockchain-enabled business models to accelerate sustainable energy development.
To find out more details, download the paper.
