ECONOMIC ANALYSIS OF TRANSMISSION SYSTEM USING BLOCKCHAIN TECHNOLOGY

Abstract

All the national and international regulatory boards are making different urgent decisions on decarburization of society, it is concomitant with digitalization and decentralization of power sector interconnected with renewable energy sources in the modern era. The Distributed Ledger Technology blockchain can be used in the energy sector in different aspects like generation, transmission, and distribution. The initial application of blockchain technology is to pay electricity bills by using the cryptocurrencies is presented here. The variable RES like wind, solar in the grid integration how the DLTs will contribute to the enhanced management of the power system. Finally, the transmission sector transmission charges based on power production, and losses are ruined optimally and blocks are interconnected to blockchain are presented clearly. Implementing blockchain technology to the transmission system generation, and distribution systems lead to the digitalization of the electrical industry. Using the blockchain technology the end-users to generation cost analysis will be recorded.