Blockchain Technology in Energy Storage Systems

Abstract Block-chain technology has garnered significant interest across many industries including energy industry. This paper discusses the role of block-chains in advancing the energy storage systems. Energy storage technology plays an important role to ensure the stable supply of energy and promote widespread application of renewable energy technologies. However, the traditional methods do not unlock the full potential of energy storage facilities due to the lack of energy storage sharing mechanism and misallocation of energy demands and resources. Block-chain-enable energy management system can significantly improve the security, reliability and efficiency of the energy storage systems using a decentralized system with transparency and audibility.