3Q 2019

Energy Blockchain Applications Overview

Global Forecasts for Supply Chain, Generation, Wholesale, Distribution, Retail, and Behind-the-Meter Segments for World Markets

Blockchain is a rapidly evolving technology with many potential use cases in the energy industry. As the grid system becomes increasingly digital, distributed, and decentralized, new information technologies are needed to support interactions and transactions between grid participants. Blockchain is one of several distributed ledger technologies that could serve as a framework for these emerging markets. Blockchain provides a mathematical basis for information management and coordination across participants in a network. It minimizes the role of intermediaries and reduces transaction costs and friction.

Energy and power sector stakeholders are experimenting with blockchain technology along the energy value chain. This extends from supply chain transparency to asset financing, proof of origin for power generation, EV charging and grid integration, and transactive energy. Although a few energy blockchain products have been commercialized, most remain in the early stages of testing and business model development. Early growth is concentrated in regions with competitive market structures and low barriers to market entry in Europe, Asia Pacific, and parts of the US.

This Navigant Research report provides an overview of the developing market for energy blockchain applications. The study explores the blockchain market by region and segment, with examples of key use cases in each market. Global forecasts of energy blockchain revenue extend through 2028. The report also describes the components of a blockchain architecture and explores the competitive landscape and key challenges that must be addressed before blockchain can be widely adopted in the energy sector.
Pages 73
Tables | Charts | Figures 21
  • What are the key components of a blockchain architecture?
  • How does blockchain technology affect the energy industry value chain?
  • How can blockchain technology support existing and emerging energy markets?
  • What are examples of successful trials of blockchain in the energy industry?
  • Who are some of the leading vendors of energy blockchain products and services?
  • What are the leading market and technology segments worldwide?
  • Energy technology companies
  • Distribution system operators
  • Energy market operators
  • Standards development associations
  • Investor community

1. Executive Summary

1.1   Introduction

1.2   Outlook

1.3   Energy Blockchain Applications Market Forecast

2. Features and Limitations of Blockchain Technology

2.1   Blockchain Automates the Role of Third Parties

2.1.1   Consensus Algorithms Are a Key Component of Blockchain Architectures

2.1.2   A Blockchain Data Structure Creates Cryptographic Links Between Data

2.2   Blockchain-Based Solutions Have Four Components

2.2.1   Hardware

2.2.2   Protocols

2.2.3   Platforms

2.2.4   Applications

3. The Role of Blockchain in the Energy Value Chain

3.1   Blockchain Applications in the Energy Commodities Supply Chain

3.2   Power Generation Applications for Blockchain Technology

3.2.1   Generation Asset Financing

3.2.2   Generation Asset Management

3.3   Wholesale Market Applications for Blockchain Technology

3.3.1   Wholesale Power Trading and Settlement

3.3.2   Certificates of Origin

3.4   Retail Market Applications for Blockchain Technology

3.4.1   Blockchain-Based Solutions Drive Down the Cost of Supplying Power

3.5   Blockchain Applications in Emerging Distribution-Level Markets

3.5.1   TE and Local Energy Markets

3.6   BTM Applications of Blockchain Technology

3.6.1   EV Charging and Grid Integration

3.6.2   Energy Management Systems and Home Automation

4. Key Industry Players

4.1   EWF

4.2   Hyperledger

4.3   Energy Blockchain Consortium

4.4   PONTON

4.5   Guardtime

4.6   Xage Security

4.7   Siemens AG

4.8   sonnen

4.9   TenneT

4.10   Power Ledger

4.11   LO3 Energy

4.12   Verv

4.13   Filament

4.14   Electron

4.15   WePower

4.16   Drift

4.17   EtainPower

4.18   IBM

4.19   GridPlus

5. Global Market Forecasts

5.1   Global Markets for Energy Blockchain Applications by Region

5.2   Global Markets for Energy Blockchain Applications by Segment

5.3   North America

5.4   Europe

5.5   Asia Pacific

5.6   Latin America

5.7   Middle East & Africa

6. Conclusions and Recommendations

6.1   Blockchain and Distributed Ledgers Have Real Limitations

6.1.1   Blockchain Cannot Verify Data Accuracy

6.1.2   Not All Architectures Can Support All Applications

6.1.3   Blockchain Is Not a Replacement for Traditional Databases

6.1.4   Blockchain Architectures Are Vulnerable to Cyber Attacks

6.1.5   Energy Blockchain Standards Are Necessary, Expected to Take Time

6.2   Commit to Solutions, Not to Blockchain

6.3   Blockchain-Enabled Hardware Is a Massive Market Opportunity

6.4   Regulations Are a Key Constraint on Growth

6.5   Efficiency Gains from Blockchain to Force Innovation from Incumbents

6.6   Customer Acquisition Is a Central Challenge for Blockchain Companies

7. Acronym and Abbreviation List

8. Table of Contents

9. Table of Charts and Figures

10. Scope of Study, Sources and Methodology, Notes

  • Revenue from Energy Blockchain Applications by Region, World Markets: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, World Markets: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, North America: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, Europe: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, Asia Pacific: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, Latin America: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, Middle East & Africa: 2019-2028
  • Simplified Models for Centralized vs. Decentralized Information Management
  • A Blockchain Data Structure
  • The Blockchain Architecture Pyramid
  • Key Revenue Streams and Components of Blockchain-Based Solutions
  • Blockchain’s Role in a Decentralized Electricity System
  • Energy Blockchain Use Cases Across the Energy and Power Industries
  • Sample Inputs to a Common Hashing Function and Their Outputs
  • Revenue from Energy Blockchain Applications by Region, World Markets: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, World Markets: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, North America: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, Europe: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, Asia Pacific: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, Latin America: 2019-2028
  • Revenue from Energy Blockchain Applications by Segment, Middle East & Africa: 2019-2028
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