Cybersecurity of Renewable Energy Data and Applications Using Distributed Ledger Technology
This work addresses cybersecurity for energy industry participants involved in REC trading, but it appears incremental as it applies existing DLT methods to a specific domain without introducing new paradigms.
The paper tackles the problem of securing renewable energy certificate (REC) trading by proposing the use of distributed ledger technology (DLT) to enhance cybersecurity, focusing on certification of origin and secure transaction methods without specifying concrete numerical results.
Renewable energy sources (RES) are among the most popular emerging energy resources during the past two decades. Many countries have introduced various energy policy instruments, such as renewable energy certificates (RECs), to support 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) is a critical operation. In addition to the certification of origin, trading transactions are needed to be performed using a secure method. Energy industry participants need to secure the data and applications related to RECs. Distributed ledger technology (DLT) is a perfect framework that can support such REC functionalities. This paper addresses the cybersecurity aspects in REC trading using Blockchain and a distributed ledger technology, considering detailed cybersecurity perspectives.