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Legal and Regulatory Challenges of Blockchain-Enabled Renewable Energy Systems

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Proceedings from the International Conference on Hydro and Renewable Energy (ICHRE 2022)

Part of the book series: Lecture Notes in Civil Engineering ((LNCE,volume 391))

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Abstract

There is a global consensus that adopting renewable energy initiatives is the route to achieving net-zero emissions targets. While renewable energy systems can meet these targets effectively through blockchain deployment, primordial regulations and monopolistic frameworks are prevailing obstacles in decentralising such systems. Blockchain-enabled renewable energy systems are subjected to many industry-specific legal and regulatory challenges and barriers which inhibit blockchain proliferation. This Article traverses the foundational legal challenges, including the fragmented and incongruous network tariff methodologies, licensing requirements, and taxation schemes. It explores the lack of a comprehensive articulation of the roles and responsibilities of heterogeneous market actors engaging in blockchain systems. It also threads through the regulatory practices of certain countries with optimal blockchain technology readiness levels. This Article primarily draws on qualitative desk-based research by undertaking conceptual and explorative enquiries on the legal challenges surrounding blockchain-enabled renewable energy systems using primary and secondary data sources. In essence, identifying and exploring a plethora of regulatory gaps are key to enabling global regulatory shifts in the blockchain and energy fora.

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Acknowledgements

The research for this publication is supported by a research grant from Quanta RegTech Capital PLC, International Funding of the University of Malaya under Grant Number IF057B-2018.

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Authors and Affiliations

  1. Lecturer, Faculty of Accountancy, Finance, and Business, Tunku Abdul Rahman University of Management and Technology, Penang, Malaysia

    Karisma Karisma

  2. Associate Head of Law School, Faculty of Business, Law and Tourism, University of Sunderland, Sunderland, United Kingdom

    Pardis Moslemzadeh Tehrani

Authors
  1. Karisma Karisma
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  2. Pardis Moslemzadeh Tehrani
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Correspondence to Karisma Karisma .

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Editors and Affiliations

  1. College of Engineering & Applied Science, University of Colorado Boulder, Colorado, CO, USA

    Bri-Mathias Hodge

  2. Department of Hydro and Renewable Energy, Indian Institute of Technology Roorkee, Roorkee, India

    Sanjeev Kumar Prajapati

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© 2024 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.

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Karisma, K., Tehrani, P.M. (2024). Legal and Regulatory Challenges of Blockchain-Enabled Renewable Energy Systems. In: Hodge, BM., Prajapati, S.K. (eds) Proceedings from the International Conference on Hydro and Renewable Energy . ICHRE 2022. Lecture Notes in Civil Engineering, vol 391. Springer, Singapore. https://doi.org/10.1007/978-981-99-6616-5_26

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  • DOI: https://doi.org/10.1007/978-981-99-6616-5_26

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-99-6615-8

  • Online ISBN: 978-981-99-6616-5

  • eBook Packages: EngineeringEngineering (R0)

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