Blockchain Technology in Smart Grids and Microgrids: A Critical Review of Challenges and Opportunities

Avinash Pareek; Prashant Singh; J. S. Lather

doi:10.1007/978-981-16-7393-1_30

Blockchain Technology in Smart Grids and Microgrids: A Critical Review of Challenges and Opportunities

Avinash Pareek
, Prashant Singh^*
, J. S. Lather

^*Corresponding author for this work

Not published at VTT

Binghamton University
National Institute of Technology Kurukshetra

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

4 Citations (Scopus)

Abstract

Our Electricity or energy market was designed a long time ago. The regulation that applies to it today that disciples the innovation were put in place about a 100 years ago has been lobbied to keep in place. Since then, there have been massive inefficiencies in the entire ecosystem and infrastructure, and the control and distribution of energy today are quite antiquated. Much regulation prevents new companies from implementing a new system, so it becomes necessary to work with the incumbents to integrate this system. Therefore, this paper aims to frame today's situation of the energy markets’ state. Also, to find the opportunity for a new energy paradigm. We point out how the current public blockchain infrastructure is generally incompatible with today's energy infrastructure. Furthermore, it also enlightens the new infrastructures that will enable the transition and examples of applications in the energy infrastructure.

Original language	English
Title of host publication	Power Electronics and High Voltage in Smart Grid, Select Proceedings of SGESC 2021
Editors	Atma Ram Gupta, Nirmal Kumar Roy, Sanjoy Kumar Parida
Place of Publication	Singapore
Publisher	Springer
Pages	353-363
ISBN (Electronic)	978-981-16-7393-1
ISBN (Print)	978-981-16-7392-4
DOIs	https://doi.org/10.1007/978-981-16-7393-1_30
Publication status	Published - 2022
MoE publication type	A4 Article in a conference publication
Event	International Conference on Smart Grid Energy Systems and Control, SGESC 2021 - Kurukshetra, India Duration: 19 Mar 2021 → 21 Mar 2021

Publication series

Series	Lecture Notes in Electrical Engineering
Volume	817
ISSN	1876-1100

Conference

Conference	International Conference on Smart Grid Energy Systems and Control, SGESC 2021
Country/Territory	India
City	Kurukshetra
Period	19/03/21 → 21/03/21

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

Blockchain
Demand side management
Microgrid
Renewable energy resources
Smart grids

Access to Document

10.1007/978-981-16-7393-1_30

Cite this

Pareek, Avinash ; Singh, Prashant ; Lather, J. S. / Blockchain Technology in Smart Grids and Microgrids : A Critical Review of Challenges and Opportunities. Power Electronics and High Voltage in Smart Grid, Select Proceedings of SGESC 2021. editor / Atma Ram Gupta ; Nirmal Kumar Roy ; Sanjoy Kumar Parida. Singapore : Springer, 2022. pp. 353-363 (Lecture Notes in Electrical Engineering, Vol. 817).

@inproceedings{baa7265e6fa049a7b84bd876e9eab723,

title = "Blockchain Technology in Smart Grids and Microgrids: A Critical Review of Challenges and Opportunities",

abstract = "Our Electricity or energy market was designed a long time ago. The regulation that applies to it today that disciples the innovation were put in place about a 100 years ago has been lobbied to keep in place. Since then, there have been massive inefficiencies in the entire ecosystem and infrastructure, and the control and distribution of energy today are quite antiquated. Much regulation prevents new companies from implementing a new system, so it becomes necessary to work with the incumbents to integrate this system. Therefore, this paper aims to frame today's situation of the energy markets{\textquoteright} state. Also, to find the opportunity for a new energy paradigm. We point out how the current public blockchain infrastructure is generally incompatible with today's energy infrastructure. Furthermore, it also enlightens the new infrastructures that will enable the transition and examples of applications in the energy infrastructure.",

keywords = "Blockchain, Demand side management, Microgrid, Renewable energy resources, Smart grids",

author = "Avinash Pareek and Prashant Singh and Lather, \{J. S.\}",

note = "Publisher Copyright: {\textcopyright} 2022, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.; International Conference on Smart Grid Energy Systems and Control, SGESC 2021 ; Conference date: 19-03-2021 Through 21-03-2021",

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language = "English",

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series = "Lecture Notes in Electrical Engineering",

publisher = "Springer",

pages = "353--363",

editor = "Gupta, \{Atma Ram\} and Roy, \{Nirmal Kumar\} and Parida, \{Sanjoy Kumar\}",

booktitle = "Power Electronics and High Voltage in Smart Grid, Select Proceedings of SGESC 2021",

address = "Germany",

}

Pareek, A, Singh, P & Lather, JS 2022, Blockchain Technology in Smart Grids and Microgrids: A Critical Review of Challenges and Opportunities. in AR Gupta, NK Roy & SK Parida (eds), Power Electronics and High Voltage in Smart Grid, Select Proceedings of SGESC 2021. Springer, Singapore, Lecture Notes in Electrical Engineering, vol. 817, pp. 353-363, International Conference on Smart Grid Energy Systems and Control, SGESC 2021, Kurukshetra, India, 19/03/21. https://doi.org/10.1007/978-981-16-7393-1_30

Blockchain Technology in Smart Grids and Microgrids: A Critical Review of Challenges and Opportunities. / Pareek, Avinash; Singh, Prashant; Lather, J. S.
Power Electronics and High Voltage in Smart Grid, Select Proceedings of SGESC 2021. ed. / Atma Ram Gupta; Nirmal Kumar Roy; Sanjoy Kumar Parida. Singapore: Springer, 2022. p. 353-363 (Lecture Notes in Electrical Engineering, Vol. 817).

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

TY - GEN

T1 - Blockchain Technology in Smart Grids and Microgrids

T2 - International Conference on Smart Grid Energy Systems and Control, SGESC 2021

AU - Pareek, Avinash

AU - Singh, Prashant

AU - Lather, J. S.

PY - 2022

Y1 - 2022

N2 - Our Electricity or energy market was designed a long time ago. The regulation that applies to it today that disciples the innovation were put in place about a 100 years ago has been lobbied to keep in place. Since then, there have been massive inefficiencies in the entire ecosystem and infrastructure, and the control and distribution of energy today are quite antiquated. Much regulation prevents new companies from implementing a new system, so it becomes necessary to work with the incumbents to integrate this system. Therefore, this paper aims to frame today's situation of the energy markets’ state. Also, to find the opportunity for a new energy paradigm. We point out how the current public blockchain infrastructure is generally incompatible with today's energy infrastructure. Furthermore, it also enlightens the new infrastructures that will enable the transition and examples of applications in the energy infrastructure.

AB - Our Electricity or energy market was designed a long time ago. The regulation that applies to it today that disciples the innovation were put in place about a 100 years ago has been lobbied to keep in place. Since then, there have been massive inefficiencies in the entire ecosystem and infrastructure, and the control and distribution of energy today are quite antiquated. Much regulation prevents new companies from implementing a new system, so it becomes necessary to work with the incumbents to integrate this system. Therefore, this paper aims to frame today's situation of the energy markets’ state. Also, to find the opportunity for a new energy paradigm. We point out how the current public blockchain infrastructure is generally incompatible with today's energy infrastructure. Furthermore, it also enlightens the new infrastructures that will enable the transition and examples of applications in the energy infrastructure.

KW - Blockchain

KW - Demand side management

KW - Microgrid

KW - Renewable energy resources

KW - Smart grids

UR - https://www.scopus.com/pages/publications/85125264550

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BT - Power Electronics and High Voltage in Smart Grid, Select Proceedings of SGESC 2021

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ER -

Pareek A, Singh P, Lather JS. Blockchain Technology in Smart Grids and Microgrids: A Critical Review of Challenges and Opportunities. In Gupta AR, Roy NK, Parida SK, editors, Power Electronics and High Voltage in Smart Grid, Select Proceedings of SGESC 2021. Singapore: Springer. 2022. p. 353-363. (Lecture Notes in Electrical Engineering, Vol. 817). doi: 10.1007/978-981-16-7393-1_30

Blockchain Technology in Smart Grids and Microgrids: A Critical Review of Challenges and Opportunities

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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