Leveraging self-sovereign identity & distributed ledger technology in renewable energy certificate ecosystems
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Published version
Author(s)
Ferdous, Md Sadek
Cali, Umit
Halden, Ugur
Prinz, Wolfgang
Type
Journal Article
Abstract
Renewable Energy Certificates (RECs) are tradable units that represent the commodity in the form of environmental attributes generated for each unit of electricity produced by a renewable energy source. Furthermore, the energy sector's digitalization ushers in new crucial enablers like Distributed Ledger Technology (DLT), which may be used for REC record tracking and trading. Unfortunately, there are a number of outstanding issues such as the lack of a common standard for the representation, communication, and verification of REC, reliance on centralized entities, and others. In order to harness the true potential of energy DLT and REC, it is imperative to address these issues. In this visionary article, we propose a holistic approach which leverages a novel decentralized identity mechanism called Self-sovereign Identity (SSI) and DLT. We present its architecture, based on a rigorous threat model and requirement analysis as well as detailed use-cases to illustrate how the architecture can be used in different REC use-cases.
Date Issued
2023-10-10
Date Acceptance
2023-08-05
Citation
Journal of Cleaner Production, 2023, 422, pp.1-12
ISSN
0959-6526
Publisher
Elsevier BV
Start Page
1
End Page
12
Journal / Book Title
Journal of Cleaner Production
Volume
422
Copyright Statement
© 2023 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
License URL
Identifier
http://dx.doi.org/10.1016/j.jclepro.2023.138355
Publication Status
Published
Article Number
138355
Date Publish Online
2023-08-21