Blockchain and renewable energy: Integration challenges in circular economy era

Renewable energy technologies play a crucial role in reducing the energy consumption by exploiting natural energy resources. With the increase in the trend towards the use of renewable energy resources energy distribution networks have become more complex. As such, it is envisioned that efficient distribution of the generated energy, illegal energy use, unfair pricing, and individual energy producers' entry into the market will be the key issues that need be tackled in near future. In this study, we discuss in order to eliminate the problems experienced in the energy grid management process, the blockchain concept, and its integration with renewable energy systems. First, we develop a novel integration process of blockchain with the renewable energy systems under the circular economy perspective in order to ensure the sustainability of energy grid management systems, followed by discussions on the advantages of the proposed integration process for energy policy makers. Second, the challenges of blockchain faced during the integration to a circular economy are presented. In order to prioritize the challenges encountered in the integration process, a numerical analysis is conducted using the Pythagorean Fuzzy Analytical Hierarchy Process method based on expert opinions, and corresponding managerial implications are included.& nbsp; (c) 2021 Elsevier Ltd. All rights reserved.

Automated summary

This study discusses the integration of blockchain concept with renewable energy systems to address issues in energy grid management, focusing on ensuring the sustainability of energy grid management systems under a circular economy perspective. The advantages of the proposed integration for energy policy makers and challenges faced during integration into a circular economy are examined. Expert opinions are used to conduct numerical analysis prioritizing challenges encountered in the integration process.