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Blockchain and other DLTs hold great promise to help solve key energy challenges. The growing number of connected devices and distributed energy resources is adding further complexity to the rapidly evolving energy system. Blockchain may play an integral part in connecting consumers, electric utilities and third parties to these devices and the wider system, in a more secure, efficient, and distributed way.
In 2009, the European Union adopted high-level goals for renewable energy, energy efficiency, and greenhouse gas reductions with targets set toward the year 2020. This was followed in 2012 by adoption of the Energy Efficiency Directive (EED) (2012/27/EU), which included as a major component a requirement for Member States to create Energy Efficiency Obligations Schemes (EEOSs) on energy companies or equivalent alternative measures, and those provisions have now been in effect for three years.
