IDA

Blockchain Energy Trading

Blockchain Energy Trading

The IERC invites Expressions of Interest from Research Investigators to participate in an IERC T2 collaborative research project.

A consortium of industry stakeholders has already been formulated that seeks to collaborate with one or more RPOs to develop the appropriate infrastructure and subsequently demonstrate the applicability of using blockchain technology to facilitate peer to peer energy trading in the distributed grid. In this particular project, the IERC strongly encourages submissions from research consortia that include PIs from computer science or similar disciplines with fluency in blockchain technology and PIs from electrical engineering or similar with fluency in the mechanics of electricity markets and distributed grids. Particular objectives of the project include:

  • Review the dynamics of market conditions, regulations, standards and policies that are affecting the development of a distributed, transactive grid (defined as one that can accommodate peer to peer energy trading). Identification of the mechanics of distributed grid markets, emerging trends and future developments that will include formulation of scenarios for the market growth under different levels of deregulation and liberalisation.
  • Definition of the features and specifications of smart contracts that can accommodate secure, automated and verifiable transaction of energy between energy end users and prosumers.
  • Configuration of appropriate blockchain customisations that can most effectively accommodate and facilitate peer to peer energy trading.
  • Development of the design specifications for hardware and software infrastructure that can be connected to residential interconnected platforms (e.g. Smart Meters, Smart Inverters, Home Energy Management systems) and perform peer to peer energy trading through smart contracts facilitating blockchain technology.

Costing of such equipment and the identification of the financial features of the probable markets that can allow the commercialisation of peer to peer energy trading through the blockchain.

The lead PI once selected will be required to work collaboratively with Co-PI’s, the industry consortium and the IERC to complete a detailed project plan and full costing to detail how it will be achieved.  The combined plan will be subject to internal and external financial and technical review.

For full details regarding research scope, eligibility and challenge areas please review the call document here. Word version available here.

Applicants are invited to register their interest in this call or to submit a completed EOI form by emailing: info@ierc.ie

A webinar was held on 13th June with further information on the call.  The slides from this webinar can be found here.

An FAQ document will be uploaded in due course.

Deadline for applications is strictly 5pm, Friday 7th July 2017.

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