Barriers to blockchain-based decentralised energy trading: a systematic review
The increasing adoption of clean energy technologies, including solar and wind generation, demand response, energy efficiency, and energy storage (e.g. batteries and electric vehicles) have led to the evolution of the traditional electricity markets from centralised energy trading systems into Distr...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2023-12-01
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| Series: | International Journal of Sustainable Energy |
| Subjects: | |
| Online Access: | http://dx.doi.org/10.1080/14786451.2023.2171417 |
| _version_ | 1797680264001880064 |
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| author | Samuel Karumba Subbu Sethuvenkatraman Volkan Dedeoglu Raja Jurdak Salil S. Kanhere |
| author_facet | Samuel Karumba Subbu Sethuvenkatraman Volkan Dedeoglu Raja Jurdak Salil S. Kanhere |
| author_sort | Samuel Karumba |
| collection | DOAJ |
| description | The increasing adoption of clean energy technologies, including solar and wind generation, demand response, energy efficiency, and energy storage (e.g. batteries and electric vehicles) have led to the evolution of the traditional electricity markets from centralised energy trading systems into Distributed Energy Trading (DET) systems. Consequently, savvy business executives are exploring how blockchain might impact their competitive advantage in the emerging DET markets. Due to its salient features of distributed ledger, consensus mechanisms, cryptography, and smart contracts, blockchain technology is being used to provide decentralised trust, immutability, security and privacy, and transparency in DET system. However, integrating blockchain in DET systems is facing technical, administrative, standardisation and economic barriers. Consequently, we seek to conduct a comprehensive market analysis to identify the specific challenges hindering the integration of blockchain in DET systems. Nonetheless, we noticed that there isn't any evaluation and review framework for conducting a systematic literature review on blockchain-based DET systems. Therefore, in this work we first proposed a conceptual evaluation and review framework for conducting a systematic literature review on blockchain-based DET systems. Then, using the proposed framework, we reviewed the current studies on blockchain-based DET systems to the identify specific challenges hindering the adoption of blockchain and their proposed solutions. Our review found that, although there has been tremendous progress in addressing the technical barriers, the administrative, standardisation and economic barriers have grossly been under reviewed. |
| first_indexed | 2024-03-11T23:27:11Z |
| format | Article |
| id | doaj.art-ff0de2147466451baf428acc2a92a64c |
| institution | Directory Open Access Journal |
| issn | 1478-6451 1478-646X |
| language | English |
| last_indexed | 2024-03-11T23:27:11Z |
| publishDate | 2023-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | International Journal of Sustainable Energy |
| spelling | doaj.art-ff0de2147466451baf428acc2a92a64c2023-09-20T10:45:15ZengTaylor & Francis GroupInternational Journal of Sustainable Energy1478-64511478-646X2023-12-01421417110.1080/14786451.2023.21714172171417Barriers to blockchain-based decentralised energy trading: a systematic reviewSamuel Karumba0Subbu Sethuvenkatraman1Volkan Dedeoglu2Raja Jurdak3Salil S. Kanhere4UNSWCSIRO Energy Business UnitCSIRO Data61CSIRO Data61UNSWThe increasing adoption of clean energy technologies, including solar and wind generation, demand response, energy efficiency, and energy storage (e.g. batteries and electric vehicles) have led to the evolution of the traditional electricity markets from centralised energy trading systems into Distributed Energy Trading (DET) systems. Consequently, savvy business executives are exploring how blockchain might impact their competitive advantage in the emerging DET markets. Due to its salient features of distributed ledger, consensus mechanisms, cryptography, and smart contracts, blockchain technology is being used to provide decentralised trust, immutability, security and privacy, and transparency in DET system. However, integrating blockchain in DET systems is facing technical, administrative, standardisation and economic barriers. Consequently, we seek to conduct a comprehensive market analysis to identify the specific challenges hindering the integration of blockchain in DET systems. Nonetheless, we noticed that there isn't any evaluation and review framework for conducting a systematic literature review on blockchain-based DET systems. Therefore, in this work we first proposed a conceptual evaluation and review framework for conducting a systematic literature review on blockchain-based DET systems. Then, using the proposed framework, we reviewed the current studies on blockchain-based DET systems to the identify specific challenges hindering the adoption of blockchain and their proposed solutions. Our review found that, although there has been tremendous progress in addressing the technical barriers, the administrative, standardisation and economic barriers have grossly been under reviewed.http://dx.doi.org/10.1080/14786451.2023.2171417blockchain challengesdistributed energy tradingsmart gridsmarket models cyber-physical system |
| spellingShingle | Samuel Karumba Subbu Sethuvenkatraman Volkan Dedeoglu Raja Jurdak Salil S. Kanhere Barriers to blockchain-based decentralised energy trading: a systematic review International Journal of Sustainable Energy blockchain challenges distributed energy trading smart grids market models cyber-physical system |
| title | Barriers to blockchain-based decentralised energy trading: a systematic review |
| title_full | Barriers to blockchain-based decentralised energy trading: a systematic review |
| title_fullStr | Barriers to blockchain-based decentralised energy trading: a systematic review |
| title_full_unstemmed | Barriers to blockchain-based decentralised energy trading: a systematic review |
| title_short | Barriers to blockchain-based decentralised energy trading: a systematic review |
| title_sort | barriers to blockchain based decentralised energy trading a systematic review |
| topic | blockchain challenges distributed energy trading smart grids market models cyber-physical system |
| url | http://dx.doi.org/10.1080/14786451.2023.2171417 |
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