microgrid projects, multi-user

The global market for blockchain applications in remote and grid-connected microgrids is set to expand by 67.8% between 2019 and 2028, according to Navigant Research.

Revenue generation is expected to reach over $1.2 billion per annum.

Other key study findings include:

  • Europe and North America are early centres of development and pilot deployment for blockchain applications in microgrid systems. The two regions will remain market leaders despite strong growth in Asia Pacific.
  • Microgrid vendors and energy blockchain vendors are exploring use cases that tie the two technologies together.
  • Blockchain remains an emergent technology, however, is expected to play a huge role in addressing key pain points related to the financing and operations of grid-connected and remote microgrids. 

Johnathon de Villier, a research analyst with Navigant Research, said: “For grid-connected microgrids, low friction, smart contract-driven transactions can open new revenue streams for service providers, aggregators, and distributed energy resources (DER) owners – and potentially play a future role in grid automation.

“In remote microgrids, blockchain-based models for asset finance and ownership can help fund microgrid deployments for energy access and create a foundation for future investment.”

Click here for more information about the report.