Abstract
Enabling and empowering the diverse energy resources to have active yet efficient participation in the smart grid and energy market is an unrivaled challenge for the energy industry. This research expands the four dominant archetypes of business models in the energy and electricity market, creating a fifth archetype, the “blockchain marketplace”. The contributions of the study are to identify the extant electricity market designs and architectures as centralized and pseudo-decentralized while proposing a fully decentralized architecture enabled by the blockchain. The research contributes to the literature of smart grids and demand-side management and introduces the value configuration/architecture approach for the energy market and business model domains.
Highlights
Centralized energy utilities were once playing the leading role in the energy industry
In order to systematically study the connection between the blockchain and the smart grid, we introduce a formal framework developed in the European Union (EU), namely the Smart Grid Architectural Model (SGAM)
By adopting the value configuration and architecture perspective, this research proposes the fully decentralized business model archetype the electricity and energy market enabled by blockchain
Summary
Centralized energy utilities were once playing the leading role in the energy industry. The ambitious initiatives and goals demand new ways of thinking and new questions to be answered, such as: ‘‘how to enable the real and active participation of all the energy stakeholders (including consumers, prosumers, DERs, utilities) within the energy ecosystem, not just the conventional utilities and the regulators?’’; and ‘‘what can be the new architecture of the energy system and market with new ways of creating and capturing value from a decentralized perspective, supporting the technological development trends entailed by DSM?’’. The last section of the paper includes concluding remarks, research implications, limitations, and future research recommendation
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
