Blockchain Enabled Local Energy Markets For Connected Microgrids And Distributed Energy Resources (Off Grid Energy Independence. Europe 2018)

The electric power industry is facing a transition towards a smart grid accelerated in several regions driven mainly by the expansion of distributed energy resources (DERs) like solar systems, storage systems, heat pumps, e-cars and associated private microgrids.

This new paradigm represents not only the creation of intelligent power supply networks to allow efficient and reliable use of energy resources, but also the redesign of the market structure coupled with it. On the one hand, this paradigm shift requires a more active market-grid coupling in terms of seamless interactions or transactions between private microgrids and the public grid. On the other hand, it offers if not mandates a number of opportunities to enable fast innovation and new customer-centric business models. Due to the shifting of technical and business parameters along with this paradigm shift, the following areas of the power and utility industry are subject to major change:

Stefan Jessenberger holds a degree in electrical engineering. Stefan has worked several years in IT and IT security consulting. Since 2009 he worked in different positions in business development, solution development and partner management for renewable integration, storage integration and microgrid solutions in Siemens' Renewables and Energy Management Divisions. The last two years he has focused on transactive energy systems as well as distributed ledger and smart contract technologies.

Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment - such as computed tomography and magnetic resonance imaging systems - and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2018, which ended on September 30, 2018, Siemens generated revenue of €83.0 billion and net income of €6.1 billion. At the end of September 2018, the company had around 379,000 employees worldwide. Further information is available on the Internet at www.siemens.com .