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Cybersecure and scalable, token-based renewable energy certificate framework using blockchain-enabled trading platform

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Abstract

Decarbonization of energy systems has been a recent trend during the last two decades where large-scale renewable energy sources (RES) are integrated into the modern power systems. Various countries have developed new energy policy instruments, such as Renewable Energy Certificates (RECs), to promote the growth of RES. RECs are tradable, non-tangible assets, which have a monetary value. Tracking and certification of the origin of an energy resource regardless of its type (e.g., a conventional power plant or RES) are a critical operation. In addition to the certification of origin, trading transactions must be performed using a secure method. Energy industry participants need to secure the data and applications related to RECs. Digitalization technologies such as artificial intelligence (AI) and distributed ledger technology (DLT) are among the most popular and promising options. DLT is a perfect framework that can support such REC functionalities. This paper addresses the cybersecurity aspects in REC trading using blockchain and distributed ledger technology, considering detailed cybersecurity perspectives and aspects of adopting technology from an organizational perspective.

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Author notes

  1. Umit Cali, Murat Kuzlu, D. Jonathan Sebastian Cardenas, Onur Elma, Manisa Pipattanasomporn, Ramesh Reddi have contributed equally to this work.

Authors and Affiliations

  1. Department of Electric Power Engineering, Norwegian University of Science and Technology, Trondheim, Norway

    Umit Cali

  2. Engineering Technology, Old Dominion University, Norfolk, VA, USA

    Murat Kuzlu

  3. Electricity Security Group, Pacific Northwest National Laboratory, Richland, WA, USA

    D. Jonathan Sebastian-Cardenas

  4. Department of Electrical and Electronics Engineering, Canakkale Onsekiz Mart University, Canakkale, Turkey

    Onur Elma

  5. Smart Grid Research Unit, Chulalongkorn University, Bangkok, Thailand

    Manisa Pipattanasomporn

  6. Cyber Security Consultant, CybsecBCML, Raleigh, NC, USA

    Ramesh Reddi

Authors
  1. Umit Cali
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  2. Murat Kuzlu
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  3. D. Jonathan Sebastian-Cardenas
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  4. Onur Elma
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  5. Manisa Pipattanasomporn
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  6. Ramesh Reddi
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Correspondence to Murat Kuzlu.

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Cali, U., Kuzlu, M., Sebastian-Cardenas, D.J. et al. Cybersecure and scalable, token-based renewable energy certificate framework using blockchain-enabled trading platform. Electr Eng 106, 1841–1852 (2024). https://doi.org/10.1007/s00202-022-01688-0

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  • DOI: https://doi.org/10.1007/s00202-022-01688-0

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