ANNOUNCEMENTS
In the last decade, governments of many countries have been increasing their focus on decarbonization of energy supplies. On observing the policies around the world, it may be easily analyzed that they are focused towards three Ds namely Decarbonization, Decentralization and Digitization. The main energy goals are security of supply, affordability and environmental sustainability. Renewable Energy particularly Solar and Wind Energy fit in achieving the energy goals. In pursuit of this, the policy makers in India set a target of 500 GW installed capacity of Renewable Energy by 2030. Historically, the country has relied on the intensive use of fossil fuels as the main energy source. India has a huge renewables potential, and therefore the exploration of different pathways for their integration is required. The aim of this research is to provide possible solutions in the form of policy, regulatory, and market provisions to enable higher renewable energy deployment and increase renewable energy mix in electricity grid using blockchain technology and ancillary services. The research is divided in three research areas for its analysis: initially, the technical and economic impacts of increasing shares of variable renewable sources in the electric grid were analyzed using case studies at the generation level. Subsequently, at the transmission level, a technoeconomic analysis was done in high share renewable, medium share and low share renewable energy mix in electric grid and solution in the form of an ancillary service is proposed on the results of the study. Finally, at the distribution level, the blockchain based peer to peer market mechanism regulation is proposed for higher deployment of renewable energy. The results showed that an increase in the shares of wind and solar threw many challenges and required electric grid to cope up to use wind and solar energy effectively with uses of blockchain and ancillary services market mechanism. This could also achieve significant revenue savings, reductions in CO2 emissions and savings in the total fossil fuel consumption of the country. The results of this work will provide assistance for the policymakers that are developing a roadmap towards low carbon energy systems in India and other countries with similar potential and characteristics.
