Blockchain in the Energy Sector
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This free digital course offers an overview of how and why blockchain has the potential to disrupt the energy sector, optimise conventional processes, and empower customers as never before.
You will look at how blockchain works and gain an insight into the background, value proposition, and geopolitical context that have brought it to the centre of the energy debate.
What is the business case for blockchain in the energy sector? The idea is to make it easier in complex buyer-seller interactions to create contracts between key players in the market via peer-to-peer transactions. This reduces – or even removes – the role of intermediary agents.
Blockchain supporters claim that this would reduce transaction costs and support streamline the relationship between buyers and sellers, thereby achieving an optimal relationship supply and demand balance.
As energy production becomes increasingly available to individuals, through household solar panels, wind turbines etc.; and as new markets emerge, e.g. electric vehicles, many believe that blockchain is set for rapid growth, presenting the energy sector with considerable opportunities. Key areas of interest include: metering and billing, asset management, emission allowances, and renewable energy certificates.
We want to highlight the high-level aspects of blockchain methodology, illustrating its economic potential with business case examples.
The course provides an overview of how and why blockchain has the potential to fundamentally disrupt the energy sector, optimising existing processes and empowering customers in ways that were previously unimaginable, creating a new paradigm, where users can buy and sell energy to and from one another.
Intended learning outcomes
By the end of the course, you will be able to:
- Describe the characteristics of blockchain and digital currencies.
- Synthesise the value proposition of blockchain for a specific company.
- Explore the potential that smart contracts have in different fields.
- Identify which sectors will be most heavily affected by blockchain technology.
Methodology and assessment
In this four-week course, you will cover the following topics. You will be required to spend up to three hours’ teaching time per week.
- What is blockchain?
- Digital currencies
- The evolution and future of blockchain
- Smart contracts and applications
- Blockchain in the energy sector: the new paradigm
- P2P energy trading
- Blockchain applied to EV charging
Week 1: What is blockchain?
1. Bitcoin and Digital currencies
2. The creation of a blockchain
3. How does a blockchain work?
4. Consensus mechanisms
Week 2: Blockchain applications
1. Types of blockchain
2. Smart contracts
4. Decentralized applications
5. Barriers to beat
6. How does a business benefit from blockchain technology?
Week 3: Blockchain in the energy sector: Power Ledger
1. The new energy paradigm
2. The Power Ledger’s platform
3. Enabling P2P energy transactions
Week 4: Blockchain in the energy sector: Share & Charge
1. Use Case Share & Charge
2. Business Case Share & Charge
3. Business Model Share & Charge
This course is designed for a wide variety of energy sector professionals, including policy makers, energy company employees, and financial and business experts.
A technical background or previous knowledge of blockchain is not required.
This course is run by the Institute of Sustainable Energy, (ISE). Through our professional courses, the ISE helps learners advance their careers, and provides resources for companies that want to support continual learning among their workforce.