Market Research Report
Utility Blockchain Applications Market Overview: Blockchain-Based Platforms for Wholesale Energy Trading, Certificates of Origin, EV Charging and Integration, Meter Registration and Switching, and Transactive Energy
|Published by||Navigant Research||Product code||634440|
|Published||Content info||59 Pages; 19 Tables, Charts & Figures
|Utility Blockchain Applications Market Overview: Blockchain-Based Platforms for Wholesale Energy Trading, Certificates of Origin, EV Charging and Integration, Meter Registration and Switching, and Transactive Energy|
|Published: May 9, 2018||Content info: 59 Pages; 19 Tables, Charts & Figures||
Blockchain architectures are emerging technologies that can offer a decentralized, secure, and low friction alternative to traditional mechanisms for interactions between nodes participating in a network. At the heart of the blockchain architecture is the blockchain itself, a distributed ledger that stores all exchanges of information or value between network participants. While blockchain originated in the financial sector as a mechanism to support the exchange of digital currencies, the underlying technology has many applications outside of finance-like healthcare, law, and energy.
More than half of the current energy-related blockchain projects launched in 2016 and 2017, when hundreds of millions of dollars of investment poured into new projects. However, the energy industry's requirements for a blockchain architecture differ significantly from those of the financial sector and the technologies are still nascent. Energy-specific blockchain use cases must emphasize operational efficiency over complete decentralization and disintermediation, which requires blockchain architectures to be designed accordingly. This report provides an overview of five use cases where blockchain-based platforms are under development, highlighting the broad range of potential utilities industry applications. According to Navigant Research, total utility spending on these five blockchain-based platforms is expected to reach $3.7 billion by 2026.
This Navigant Research report provides an overview of the developing market for blockchain-based platforms in the utilities industry. The study focuses on wholesale energy trading, certificates of origin, EV charging and integration, meter registration and switching, and transactive energy platforms. Global forecasts of utility spending, segmented by region and use case, extend through 2026. 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.