Towards a Greener Future: Leveraging Blockchain for Sustainable Demand Response and Supplier Baseline Assessment

This paper will explore the possibilities of leveraging the underpinning blockchain technology to drive sustainability in an energy management system using the areas of demand response and supplier baseline assessment as a case study. Rising global energy needs, and an unwavering commitment to environmental sustainability necessitate the need for innovative solutions to improve energy efficiency and transparency. Blockchain also showed that in a pilot project at a local municipal electric utility for a small to mid-sized city that utilizing blockchain technology, which would be completely decentralised and secure, would improve targeted KPI performance: 20% reduction in peak load power consumption; 91% accuracy in supplier verification; increased transaction throughput and overall system reliability. These results suggest that blockchain not only supports efficient energy management but also promotes a sustainable and transparent energy sector, with scalability indicating potential broader applications for smart grid systems and renewable energy sources.