Eurelectric (European Telecommunication Union) released a new report highlighting how to use blockchain to better manage the increasingly dispersed energy that is being introduced into the grid. Experts say that this technology can create a leaner and more efficient system, but will it also bring chaos to traditional network operators?
Blockchain technology can improve efficiency and security performance for any process that requires data sharing and transactions between peer-to-peer networks. Simply put, it does this by recording transactions on a distributed register system, these registers are verified by the network, and all interventions are completely protected. Therefore, many experts believe that this technology can be adopted by the grid to better integrate renewable energy and manage the current of the entire network. However, experts agree that doing so may have a major impact on the current role of distribution network operators.
Physics and Digital
In an industry association representing the common interests of the pan-European power industry, the European Telecommunications Union published a blockchain impact assessment report. The report pointed out that in industries with physical transactions, the power sector may be more vulnerable than other industries. The impact of blockchain technology integration.
This is because the electricity market is centralized. On centralized trading platforms (similar to stock exchanges and other financial market platforms), sales and purchases are liquidated together. For distribution system operators (DNOs), this process becomes quite complicated because electricity is no longer just from large power stations, but from multi-directional flows, including small and large renewable energy projects.
"Energy-related transactions through the blockchain have been used for peer-to-peer energy transactions."
In order to manage this expanding network, more capabilities need to be built in the grid and to facilitate more data sharing and energy transactions. Traditionally, additional capacity will be created by strengthening the grid with more physical infrastructure, such as cables and gray boxes.
However, the cost of doing so is high. For example, in Germany, it is estimated that between 2032 and 2032, an additional total investment of 23 to 49 billion euros will be required to expand the scale of the grid and integrate renewable energy.
On the contrary, most people agree that increasing flexibility through demand-side response and other measures is a cheaper solution. "Delaying energy use is more cost-effective than building more capacity," said Jim Carwell, director of policy development for Northern Power Grid.
This is where the blockchain can make a big splash.
Carwell said: "In order to gain flexibility, either pay consumers to stop using energy or sell some energy to the network. This requires operational scheduling. This process requires visibility to control it and conduct commercial transactions. This is the block. Where chains can play a role in commercial contracts and settlements."
Blockchain can basically become a platform that enables data sharing and transactions between power grids, generators, and users to be carried out quickly, safely and efficiently. Simplifying this process in a transparent manner can reduce market barriers to energy.
Carwell said: "Currently, expertise is required, and different contracts can be integrated into one. Blockchain can eliminate some of the cost and complexity and open the market to smaller companies that can almost plug and play without intermediaries."
The intermediary agency he refers to refers to demand-side response companies, such as Kiwi Power, which currently provide a certain degree of flexibility to the power grid by remotely managing the consumption of consumer groups.
It may also help alleviate conflicts in development. Marius Buchmann, senior energy economist at Jacobs University in Germany, said that at present, Germany pays about 1 billion euros a year to correct the discrepancy between market activity and actual reality.
Pilot project
Although the adoption of this technology seems to have a long way to go, some important projects are already underway. From a small perspective, energy-related transactions through the blockchain have been used for peer-to-peer energy transactions. In May of this year, Australia-based Power Ledger announced that it was ready to put its platform into operation.
Although there are currently many technical and regulatory obstacles to large-scale grid deployment, pilot projects are being funded. For example, Eurotel highlighted the transmission system operator TenneT, which has cooperated with Vandebron, Sonnen and IBM to develop a blockchain-based project to enhance the flexibility of the operator’s services. In a pilot project, the two companies will work with electric vehicle (EV) owners to provide electric vehicle battery capacity and help TenneT balance the grid.
London-based Electron is also using blockchain technology for flexible transactions, integrating market design and technical support from State Grid and Siemens. The company has also formed a consortium with partners such as Bahlinga, EDF Energy, Flexitricity, Kiwi Power, Northern PowerGrid, Open Energi, Shell, Statkraft and British Grid.
So what impact will it have on distribution system operators?
Buchmann said that if blockchain is used as an effective tool to reduce costs and simplify processes, just like in the banking industry, there will be no huge chaos. Moving from a purely physical electronic system to a cyber-physical system may present challenges to existing distribution network operators who are not accustomed to this technology.
If the distribution network operator cannot achieve the transition to a cyber-physical system operator, in extreme cases, it may lead to the separation of ownership of physical infrastructure and operations. Buchmann explained: “I don’t think blockchain itself will disrupt the core business of distribution network operators, but if this technology enters the energy market through peer-to-peer transactions, and these operators cannot cope with this development and use this technology, This may be one of the reasons why the government has taken measures to separate asset ownership from network operations. Many distributed energy networks (will) connect to a digital platform that needs to be guided and controlled.†However, due to existing laws and comprehensive solutions Economic advantage, this will be difficult to achieve.
Thierry Morier, partner of Ernst & Young's global innovation leader in power and utilities, said that in the future, there will be many distributed energy networks connected to a digital platform that need to be guided and controlled. But the question for distribution network operators is: who will do it?
He said: "Now, I think there will be a battle over who will own this platform. Obviously, grid companies and power companies are interested in it, but there are also some technology companies, such as Google and Microsoft, that provide IoT solutions. What I want to say is that power grid companies are not ready to enter this platform by using emerging technologies. Blockchain is just one of the platforms. If power grid companies don’t come forward, there will be a big risk, that is, other companies. Will become the owner of the platform that controls all customer relationships and access, which means that the grid company will be in a passive situation. Carwell recognizes these views and ensures that at least the Power grid company in the North does not try to stick to the old way of doing things."
He said: "We are keen to embrace technology and see it as an opportunity. We are eager to learn how to use blockchain in the areas where we work. But the distribution network operators do not only distribute, but also manual Operation, dispatching and handling system abnormalities. Therefore, I think that we do not regard the operation of the distribution network as something that can be done by a simple control room (mainly through a computer), which will distort the operation of today's distribution network. Happening."
Current limit
Despite its huge potential, the European Telecommunications Union emphasized the limitations of blockchain technology in its report. "Currently, high costs, slow transaction speeds and other limiting factors have brought a heavy burden to the technology category." It pointed out that the technology level currently bears high costs, slow transaction speeds, and other restrictions and risks. For example, the number of conversions that can be processed per second is currently limited. However, research to improve transaction throughput is ongoing. In addition, European energy networks are complex and strictly regulated, which will create obstacles to adoption. To achieve any success on the Internet, Buchmann said, the governance of technology must be easy to monitor. He said that it is also important to establish accountability, so it is vital to understand the validators on the blockchain. In terms of security, Morier said: “No one has ever hacked the blockchain, but there may also be security issues, such as who really has the right to enter the blockchain.â€
Future outlook
Carwell believes that blockchain may make operations more straightforward in the future, and individuals do not need to be experts to participate. There should be a series of distribution operators that are compatible with, interconnected and interact with national system operators. Blockchain may be a way to support this vision.
At present, it is unclear how to use blockchain in energy distribution networks, but it is clear that key players are paying attention, and distribution network operators should do the same.
So, what should they do? Morier said: "Distribution network operators should at least start experimenting on these platforms. Time is not waiting for anyone. We recommend that utility companies speed up, review joint ventures and partnerships, and develop an implementation roadmap to make it a reality. "
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