Exploring the synergies between renewable energy and blockchain technology

: what are the most promising use cases for their integration?

Abstract

This study explores the potential synergies between renewable energy and blockchaintechnology. The world is shifting towards greener and more sustainable energy resources. Nextto that development, technologies such as blockchain are also gaining more attention in various industries. The application of blockchain in the renewable energy market has not been studied deeply yet, and its benefits, applications, and challenges it presents need to be further researched. Through this research possible applications of blockchain in multiple areas of the renewable energy sector are shown. This exploration is achieved through a detailed review of existing literature, conducting a market study and the valuable insights derived from interviews with industry experts. In the end one potential application that a global integrated utility company could implement is being studied in further detail. The findings indicate that while blockchain's characteristics may be compatible with many operational areas within a utility company, its actual implementation is still in the early stages and faces numerous challenges. These include regulatory uncertainty, security concerns, and issues with interoperability, among others. However, through a use case it is shown that implementing blockchain technology could offer substantial operational benefits. The study does not assert that blockchain is the definitive solution but rather explores its potential and encourages continued examination and discourse about its role in the renewable energy sector.

Date of Award	27 Jun 2023
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Rute Xavier (Supervisor)