4Q 2019

Blockchain Applications for Remote and Grid-Connected Microgrids

Drivers, Barriers, and Market Opportunities through 2028

Microgrids have been a feature of the energy system for decades, predating the rise of distributed renewable generation technologies. Blockchain is an emergent technology in the early stages of development and commercialization. Blockchain’s characteristics can help address key pain points in the financing and operations of grid-connected and remote microgrids. For grid-connected systems, low friction, smart contract-driven transactions can open new revenue streams for service providers, aggregators, and distributed energy resources (DER) owners, and potentially play a future role in grid automation. In remote systems, blockchain-based models for asset finance and ownership can help fund microgrid deployments for energy access and create a foundation for future investment.

Europe and North America are early centers of development and pilot deployment for blockchain applications in microgrid systems. These regions are expected to remain the first- and second-ranked markets through the forecast period despite strong growth in Asia Pacific. Grid-connected microgrids account for the majority of projected revenue due to the wide range of service offerings they can provide to customers and to the larger grid system (e.g., through virtual power plants [VPPs] and demand side management [DSM]).

This report from Navigant Research, a Guidehouse company, analyzes trends driving the development of blockchain applications for remote and grid-connected microgrids across five geographies (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) and two microgrid technology system types (remote and grid-connected). It also includes a survey of key market barriers and drivers for the development of blockchain technology in microgrid systems. Global forecasts for regional and technology segments extend through 2028.

Pages 41
Tables | Charts | Figures 21
  • Why is blockchain an attractive technology for microgrid systems?
  • What are the most common use cases for blockchain in microgrids?
  • How can remote microgrids deployed for energy access benefit from blockchain?
  • What is the role of crowd-funded financing models in accelerating remote microgrid deployment?
  • How do blockchain use cases and revenue opportunities differ between blockchain and grid-connected systems?
  • How can grid-connected microgrids benefit from reduced operating costs?
  • What are the key barriers to the deployment of blockchain technology in microgrids?
  • Microgrid developers and component suppliers
  • Utilities, power electronics companies, and DER management system providers
  • Energy storage purveyors
  • Microgrid and smart grid software vendors
  • Commercial and industrial customers
  • Virtual power plant (VPP) aggregators
  • Distribution system operators
  • Investor community

3. Market Issues

3.1   Regional Drivers and Barriers

3.1.1   North America

3.1.2   Europe

3.1.3   Asia Pacific

3.1.4   Latin America

3.1.5   Middle East & Africa

4. Key Industry Players

4.1   ABB

4.2   Enel X

4.3   Energy Web Foundation

4.4   LG Electronics

4.5   LO3 Energy

4.6   Power Ledger

4.7   Schneider Electric

4.8   Schweitzer Engineering Laboratories

4.9   Siemens

4.10   The Sun Exchange

4.11   WePower

5. Market Forecasts

5.1   Market Outlook by Region

5.1.1   North America

5.1.2   Europe

5.1.3   Asia Pacific

5.1.4   Latin America

5.1.5   Middle East & Africa

5.2   Market Outlook by Technology Segment

5.3   Conclusions and Recommendations

5.3.1   Aggregators Can Use Blockchain Now – Local Energy Markets Come Later

5.3.2   Electricity Suppliers Should Prepare for New Competitors

5.3.3   Regulators Should Establish Sandbox Programs to Trial Policy Changes

5.3.4   The Developing World Is the Wild West for Blockchain and Energy Access

6. Acronym and Abbreviation List

7. Table of Contents

8. Table of Charts and Figures

9. Scope of Study, Sources and Methodology, Notes

  • Total Microgrid Capacity by Implementation Type, World Markets: 2019-2028
  • Blockchain Project Deployments by Microgrid Use Case, World Markets: 2014-2018
  • Revenue from Blockchain Use Cases in Microgrids by Region, World Markets: 2019-2028
  • Revenue from Blockchain Use Cases in Microgrids by Technology, World Markets: 2019-2028
  • Revenue from Blockchain Use Cases in Microgrids by Implementation Type, World Markets: 2019-2028
  • Cumulative Blockchain Project Deployments by Microgrid Use Case, World Markets: 2014-2018
  • Blockchain Vendor Market Entries by Microgrid Use Case, World Markets: 2014-2018
  • Cumulative Blockchain Vendor Market Entries by Microgrid Use Case, World Markets: 2014-2018
  • Percentage of Utility Bill Payments Made with Cash Only
  • Percentage of Domestic Population with No Access to Electricity
  • Revenue from Blockchain Use Cases in Microgrids by Region, World Markets: 2019-2028
  • Revenue from Blockchain Use Cases in Microgrids by Technology, World Markets: 2019-2028
  • Revenue from Blockchain Use Cases in Microgrids by Implementation Type, World Markets: 2019-2028
  • Blockchain Project Deployments by Microgrid Use Case, World Markets: 2014-2018
  • Cumulative Blockchain Project Deployments by Microgrid Use Case, World Markets: 2014-2018
  • Blockchain Vendor Market Entries by Microgrid Use Case, World Markets: 2014-2018
  • Cumulative Blockchain Vendor Market Entries by Microgrid Use Case, World Markets: 2014-2018
  • Total Microgrid Capacity by Implementation Type, World Markets: 2019-2028
  • Share of Operational Microgrid Capacity by Implementation Type, World Markets: 2019-2028
  • Known Blockchain Activity Among Top 10 Microgrid Vendors
  • Codes and Definitions for Energy Blockchain Use Cases Applicable to Microgrids: 1H 2019
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