Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/228297 
Year of Publication: 
2019
Series/Report no.: 
ESRI Working Paper No. 649
Publisher: 
The Economic and Social Research Institute (ESRI), Dublin
Abstract: 
This paper proposes a new mechanism for forward selling renewable electricity generation. In this transactive framework, a wind or solar farm may directly sell to consumers a claim on their future power output in the form of nonfungible blockchain tokens. Using the flexibility of smart contract code, which executes irrevocably on a blockchain, the realised generation levels will offset the token holders' electricity consumption in near real-time. To elucidate the flexibility offered by such smart contracts, two ways of structuring these power delivery instruments are considered: firstly, an exotic tranched system, where more senior tokens holders enjoy priority claims on power, as compared against a simpler pro-rata scheme, where the realised output of a generator is equally apportioned between token holders. A notional market simulation is provided to explore whether, for instance, consumers could exploit the flatter power delivery profiles of more senior tranches to better schedule their responsive demands.
Document Type: 
Working Paper

Files in This Item:
File
Size
925.16 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.