Delivering a ‘networks view’ on Blockchain and other Distributed Ledger technologies by conducting a desk study to produce a timeline of applications within the DNO/DSO world.
The project aims to achieve an in-depth appraisal of the application of Distributed Ledger Technology (DLT) in the energy industry. DLT based smart contracts include rules for information exchange, contract formation and value transfer among multiple entities, based on a shared ledger which is easily validated. They could reduce the cost of establishing mutual trust between multiple DER owners and network operators who have agreed to behave in certain ways. DLT could also provide a means to manage electric vehicle charging and the integration of energy storage.
This project, recognising the potential of DLT to enable the DSO transition, addresses the major technical and commercial challenges.
The project begins with a detailed review of existing distributed ledger technology (such as blockchain) and smart contracts, with particular focus on the energy sector; and a study of their design, deployment and interfaces.
It then proceeds to demonstration software and hardware implementation, in a simulation environment, enabling DNO engineering and commercial staff to gain experience and understanding of DLT applications.
The project has high potential for new learning, in particular:
Consideration of information flows required to produce effective decision support algorithms
What we achieved so far:
What we are aiming to learn: