The penetration of renewables is increasing in the grid, particularly when you consider the microgrid system, and because of this more flexibility measures are needed. Mechanisms need to be explored for how these measures can be incentivized.

During the 2023 LF Energy Summit in Paris, Nayan Lal, M.Tech IIT Delhi and Sustainable Energy Consultant, discussed his thesis on incentivizing flexibility and coordination using blockchain technology. He talked about incentivizing behavior change in prosumers through token-based mechanisms in the context of renewable energy integration. “We are trying to see how much we can tap into the behaviors of the prosumers so as to integrate more energy participants onto the grid and to enable them to participate more in the energy system,” said Lal.

This interview dives deeper into the projects that have already been successfully implemented by distribution system operators (DSOs) and as the technology matures we will likely see it be scaled up further. However, the focus should not just be on the tools but also the human issues and working to solve them.

Guest: Nayan Lal (LinkedIn)
Organization: LF Energy (Twitter)
Show: State of Energy

This summary was written by Emily Nicholls.