Blockchain and renewable energy: Integration challenges in circular economy era

• Published in: Renewable energy Vol. 176; pp. 183 - 197
• Main Author: Yildizbasi, Abdullah
• Format: Journal Article
• Language: English
• Published: Elsevier Ltd 01-10-2021
• Subjects: Blockchain; Circular economy; Energy policy; Pythagorean fuzzy AHP; Renewable energy; Energy policy; Circular economy; Renewable energy; Pythagorean fuzzy AHP; Blockchain
• ISSN: 0960-1481; 1879-0682
• DOI: 10.1016/j.renene.2021.05.053

Renewable energy technologies play a crucial role in reducing the energy consumption by exploiting natural energy resources. With the increase in the trend towards the use of renewable energy resources energy distribution networks have become more complex. As such, it is envisioned that efficient distribution of the generated energy, illegal energy use, unfair pricing, and individual energy producers' entry into the market will be the key issues that need be tackled in near future. In this study, we discuss in order to eliminate the problems experienced in the energy grid management process, the blockchain concept, and its integration with renewable energy systems. First, we develop a novel integration process of blockchain with the renewable energy systems under the circular economy perspective in order to ensure the sustainability of energy grid management systems, followed by discussions on the advantages of the proposed integration process for energy policy makers. Second, the challenges of blockchain faced during the integration to a circular economy are presented. In order to prioritize the challenges encountered in the integration process, a numerical analysis is conducted using the Pythagorean Fuzzy Analytical Hierarchy Process method based on expert opinions, and corresponding managerial implications are included.
•A framework for blockchain-integrated energy grid management systems is presented.•The importance of circular economy in energy management system has been revealed.•The challenges of blockchain faced during the integration are identified.•Pythagorean Fuzzy AHP method was employed for the evalution of the challenges.