A Study on the Effectiveness of Blockchain Technologies and Energy Storage in the Electricity Distribution System
Lead Research Organisation:
University of Edinburgh
Department Name: Sch of Engineering
Abstract
According to the Association of Distributed Energy in the UK, 16% of the peak electricity could be delivered by shifting load from busy periods (i.e. demand-side management) and better informed use of on-site generation. In their latest report, they quoted savings of £600 million by 2020 and £2.3 billion by 2035.
The proposed research topic investigates a way of achieving this through research and analysis of the existing methods of peer-to-peer electricity trading methods including, but not limited to, blockchain technologies. It aims to implement a more efficient energy transaction method between consumers and generators in the distribution network which would maximise the revenue potential of distributed generation and minimise the line losses, transmission costs and need for infrastructural upgrades. It will investigate the use of active demand-side response and energy storage systems to overcome locational constraints that prevent the system from exploiting the merits of distributed generation.
Changing the way energy transactions are conceived, would help utilise the electricity grid in a more effective way. This proposed method called peer-to-peer trading could defeat several problems associated with distributed generation such as bi-directional power flow and allow further penetration of distributed renewable energy technologies. There is also an added social impact of the project as this transaction platform would enable donation of energy, creating awareness about fuel poverty in the UK.
The proposed research topic investigates a way of achieving this through research and analysis of the existing methods of peer-to-peer electricity trading methods including, but not limited to, blockchain technologies. It aims to implement a more efficient energy transaction method between consumers and generators in the distribution network which would maximise the revenue potential of distributed generation and minimise the line losses, transmission costs and need for infrastructural upgrades. It will investigate the use of active demand-side response and energy storage systems to overcome locational constraints that prevent the system from exploiting the merits of distributed generation.
Changing the way energy transactions are conceived, would help utilise the electricity grid in a more effective way. This proposed method called peer-to-peer trading could defeat several problems associated with distributed generation such as bi-directional power flow and allow further penetration of distributed renewable energy technologies. There is also an added social impact of the project as this transaction platform would enable donation of energy, creating awareness about fuel poverty in the UK.
