02/13/2018 | Press release | Distributed by Public on 02/13/2018 12:00
February 13, 2018 at 8:17 AM
Emerging blockchain technology to impact utility performance
SANTA CLARA, Calif. - February 13, 2018 - Frost & Sullivan's recent analysis, Digital Grid-Capitalizing on Opportunities with Blockchain Technology, finds that the introduction of blockchain technology could transform current utilities and consumer business transaction models by enabling a decentralized energy production model. This potential disruption is forecast to make the grid more reliable and efficient, reduce utilities' capital expenditure on renewable energy generation, and allow consumers to participate in peer-to-peer (P2P) trading. The examination of the U.S. digital grid market also provides an in-depth overview of the United States (US) addressable market, its existing applications, and emerging energy applications. Key impacts, benefits, challenges, companies to watch, and case studies are provided.
To access more information on this analysis, please http://frost.ly/271
'Most energy cryptocurrency and blockchain platforms-as-a-service companies are operating at a pilot scale, with limited revenue growth. However, with Mega Trends such as 5G, transactive energy, and micro-grids set to become prominent over the next five to 10 years, adoption and revenue could see explosive upsurges,' said Frost & Sullivan Energy & Environment Senior Research AnalystNaren Pasupalati.
Pasupalati recommends that blockchain developers tap into areas that have adopted advanced metering infrastructure (AMI), such as Washington D.C., Maine, and Nevada, and high distributed solar PV installation, such as California and Georgia. These areas have an increased probability of adopting blockchain technology for P2P energy transactions.
Five application opportunities identified for blockchain in the digital grid sector include:
'With blockchain, the lines between consumers and utilities will be blurred; however, many states in the US still prohibit direct sales of electricity by non-utility entities to consumers,' observes Pasupalati. 'Regulations will need to evolve as utilities lean toward decentralized energy systems.'
Digital Grid-Capitalizing on Opportunities with Blockchain Technology is part of Frost & Sullivan's Power Generation Growth Partnership Services Program.
About Frost & Sullivan
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Digital Grid-Capitalizing on Opportunities with Blockchain Technology
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