Blockchain in Energy and Grid Management: Enhancing Transparency

The global blockchain in energy market is forecast to expand at a CAGR of 25.6% and thereby increase from a value of US$ 7.6 Bn in 2025 to US$ 37.4 Bn by the end of 2032.
Blockchain in the energy sector refers to the implementation of blockchain technology—a decentralized and tamper-resistant digital ledger—transforming the traditional energy landscape. This innovation addresses the need for a secure, transparent, and efficient framework for managing energy transactions, data, and assets. The applications of blockchain in energy are diverse and impactful. One key application is the use of smart contracts, which automate and secure energy transactions by executing predefined terms when specific conditions are met. This enhances efficiency, reduces the risk of errors, and ensures transparent and auditable records. Blockchain also facilitates peer-to-peer energy trading, allowing users to directly buy and sell excess energy without the need for intermediaries. Moreover, it enables transparent tracking of renewable energy sources throughout the supply chain, ensuring consumers have accurate information about the origin and sustainability of the energy they consume.