How Can Blockchain Be Integrated Into Renewable Energy

Energy Strategy Reviews 50 (2023) 101207
Contents lists available at ScienceDirect
Energy Strategy Reviews

journal homepage: www.elsevier.com/locate/esr
How can blockchain be integrated into renewable energy? --A

bibliometric-based analysis☆
Ming-li Cui a, Tian-tian Feng a, b, c, *, Hao-ran Wang a
a
School of Economics and Management, China University of Geosciences, Beijing, 100083, China
b
Key Laboratory of Carrying Capacity Assessment for Resource and Environment, Ministry of Land and Resources, Beijing, 100083, China
c
Key Laboratory of Strategic Studies, Ministry of Land and Resources, Beijing, 100083, China
A R T I C L E I N F O A B S T R A C T
Handling Editor: Mark Howells Blockchain technology and renewable energy links can realize the fusion of energy flow and information flow.
The combination of the two has a high degree of matching, and the related research is also increasing. Although
Keywords: experts have expanded their research on renewable energy and blockchain, there are still restrictions and gaps in
Blockchain the existing research. In this paper, 920 articles from 2016 to 2023 were chosen and visualized using biblio
Renewable energy
metrics and CiteSpace software to analyze the research field’s development base, collaborative groups, hot topics
Bibliometrics
and evolutionary trends. Based on the foregoing research, we summarized the pertinent literature in the area of
CiteSpace software
Visualization “Renewable energy & Blockchain” and thoroughly analyzed the current hot issues in depth to determine the
future development direction. The findings show that, first, related research in the field increased rapidly in
2016–2023, the research topics and hotspots of “Renewable energy & Blockchain” focus on energy system
optimization, clean energy technologies, circular development and renewable energy trading. Second, all sub
jects have a specific strength and influence contribution in the field, from the micro to the macro level. Among
them, China, the United States and their universities have relatively mature research experience and research
ability. Third, research gaps in blockchain-based renewable energy application, technology, and policy, as well as
potential trends in energy internet, energy management, energy systems, green certificate trading, and green
power trading. This study provides researchers with a theoretical foundation for gaining a thorough under
standing of current research efforts and future research directions in this field.
1. Introduction 295 million kilowatts. Nearly half of these new installations were added
in Asia. In 2022, the total installed capacity of renewable energy in Asia
Against the backdrop of global economic recovery, global energy is 1.63 TW (about 1600 GW), with PV and wind power as the main
consumption has recovered as a whole, but the level and speed of re renewable energy additions to maintain the absolute dominant position.
covery are uneven. Currently, conventional energy, mainly coal and oil, The rapid growth of renewable energy not only eases, to a certain extent,
is the mainstay of energy consumption, but due to its limited resources the problem of a tight power supply but can also further improve the
and serious atmospheric pollution, resulting in global energy constraints energy structure, reduce environmental pollution, and achieve sustain
and environmental degradation, so renewable energy such as photo able development of humans and nature.
voltaic, wind power and other renewable energy has been rapidly However, due to the uneven distribution of wind and light resources,
developed. According to the International Renewable Energy Agency the high cost of grids supporting investment operation and maintenance,
(IRENA) released the latest version of the “2023 Renewable Energy imperfect market trading mechanism and other issues, renewable en
Installed Capacity Statistical Report” [1] pointed out that, as of the end ergy is currently facing the dilemma of insufficient utilization efficiency,
of 2022, the global renewable energy power generation installed ca low investment efficiency, nontransparent and non-standardized trading
pacity reached 3372 GW, with an increase in the installed capacity of processes, and weak market competitiveness. To alleviate the dilemma
There is no professional or other personal interest of any nature or kind in any product, service and/or company that could be construed as influencing the
☆
position presented in, or the review of, the manuscript entitled.

* Corresponding author. School of Economics and Management, China University of Geosciences, Beijing, 100083, China.
E-mail address: [email protected] (T.-t. Feng).
https://doi.org/10.1016/j.esr.2023.101207
Received 26 December 2022; Received in revised form 22 August 2023; Accepted 13 September 2023
Available online 26 September 2023
2211-467X/© 2023 The Author(s). Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-
nc-nd/4.0/).
M.-l. Cui et al. Energy Strategy Reviews 50 (2023) 101207
of supporting renewable energy, blockchain application in the field of paper uses CiteSpace software to quantitatively analyze the literature
renewable energy has become a popular topic of discussion in recent related to “Renewable energy & Blockchain” from 2016 to 2023. We
years [2]. It plays a crucial role in regulating the energy transaction summarize the research areas, publication status, collaborative contri
process, improving the energy transaction mechanism, and guiding the butions, research themes, and research hotspots and evolution patterns.
benign development of renewable energy [3]. There are still some Then, we further elaborate on the current state of research highlighted
controversial issues about blockchain application in the field of renew in the visualization results through qualitative analysis, and discuss the
able energy. For example, distributed power generation is prone to cause current research gaps and future trends. This provides valuable refer
the demand for peer-to-peer power transactions on blockchain to surge ences for scholars in the field of “Renewable energy & Blockchain” and
or drop, which is prone to create systemic risks within the system [4,5]. helps them to understand it comprehensively from various perspectives.
In addition, the decentralization of blockchain technology can only The main contributions of this paper are as follows: First, it
solve the decentralization of transactions, while the decentralization of comprehensively presents the research progress of “Renewable energy &
power professional capabilities (power quality management, power Blockchain” from different perspectives (discipline mapping, publica
safety services and equipment operation and maintenance services, etc.) tion statistics, collaboration, co-citation, keywords, etc.), providing
still needs to be provided by professional service providers. The appli scholars with key authors and key papers, and research collaboration
cation of blockchain in the field of renewable energy is limited by pro with dynamic visualization perspectives and insights. Second, the
fessional services. In addition, blockchain in the field of renewable literature in the field of “Renewable energy & Blockchain” is compre
energy transactions is greatly affected by energy regulatory policies and hensively analyzed through a combination of qualitative and quantita
other types of energy policies, and the imperfections of policies may be tive methods to make up for the shortcomings of the current research
the biggest obstacle to the application of blockchain technology in the reviews. Third, the visualization results clarify the research hotspots in
field of renewable energy [2]. These issues have a significant impact on this field, further summarize the current research status, research gaps
the application of blockchain in the field of renewable energy and and research trends, and clarify the potential research characteristics, so
therefore deserve attention. as to provide useful references for the research direction of “Renewable
The research related to the use of blockchain technology in the field energy & Blockchain” for the subsequent research scholars. The specific
of renewable energy is complex and covers the following areas: first, in research idea is shown in Fig. 1.
terms of theoretical and technical aspects. Experts such as Valdivia A D
[6] analyses from a holistic perspective of socio-technical energy tran 2. Research methodology and data sources
sition governance, further proposed that blockchain-based energy
trading platforms can help address the challenges or limitations identi Bibliometric analysis as a statistical and quantitative method can be
fied in the energy transition governance literature. For example, the use used to review specific areas of research. The limitations of subjectivity
of blockchain technology can build secure and automated trading plat and bias can be minimized by using this method. CiteSpace software,
forms, enhance trust and coordination of distributed energy systems, unlike with other visualization software, focuses on finding trends of
and facilitate coordination and communication. Second, in terms of shifts in research frontiers and internal links between different research
application scenarios. Experts such as Rinaldi G [7] reviewed the frontiers, showing the relationship between those frontiers and their
existing literature and new approaches in maintenance planning and underlying knowledge. CiteSpace software allows for research hotspots
condition monitoring for offshore renewable energy farms, examining to be clustered and analyzed and integrated with multidimensional scale
future scenarios for data processing using blockchain to inform a range analysis and social network analysis, which is efficient and convenient
of industry stakeholders. Third, in terms of prospect analysis, in [10,11]. The combination of bibliometric analysis and CiteSpace can
response to the challenges faced by modern power systems, such as the provide scholars with a comprehensive visual tool. It can clearly sum
growing demand for electrical energy, the massive growth of renewable marize the research hotspots and future directions of a particular topic.
energy distributed generation, and emerging cyber-physical security Therefore, this paper uses bibliometrics and CiteSpace software (6.1. R6
threats, Musleh A S and other experts [8] reviewed the different pros and 6.2. R4) to provide insight into the current state of research in the
pects, advantages, pathways and technical challenges for the application field.
of blockchain technology in smart grids, and proposed a framework for To systematically study the articles in the field of “Renewable energy
key applications of blockchain-based smart grids to ensure the safe and & Blockchain,” this paper uses the search results collected from the Web
reliable operation of power systems. of Science Core Database for bibliometric analysis. Web of Science
In summary, some scholars have reviewed the literature on (WoS) is the world’s premier, highly recognized, scholarly publishing
“Renewable energy & Blockchain” and they mainly focus on the theo database with multiple scientific domains [12]. Compared with other
retical technology, application scenarios and prospect analysis of databases or collections, WoS core database publications are of higher
blockchain in the field of renewable energy, exploring its existing quality and reputation, covering all research topics of “Renewable en
challenges and future development [9]. ergy & Blockchain” among scholars worldwide, making the research
However, we have to admit that the current research fails to describe results more convincing and generalizable [13]. Set the search formula
the current state of research in this field from a comprehensive as “Topic = [(“Renewable energy*”) OR (“Clean Energy*”) OR (“New
perspective. At the same time, most of the research methods adopt Energy*”) OR (“Alternative Energy*”)] AND Topic = (“Blockchain*”)
single-method research (qualitative research or quantitative research). OR (“Blockchain Technology*”).” The search period was “2016–2023.”1
There is a lack of analyses and reviews using systematic methods and The document type was “All,” and the language of the document was
models that combine qualitative and quantitative approaches. This limited to “English.” The above settings allowed us to determine the
makes a bird’s eye view of “Renewable energy & Blockchain” impos scope of the retrieved articles and ensure the quantitative nature of the
sible. This is not conducive for researchers with different research in data source. A total of 920 articles were finally selected for analysis.
terests or expertise to collaborate and integrate their insights into
research in the field of “Renewable energy & Blockchain.”
Therefore, it is important to explore the field in a comprehensive
manner, using bibliometrics to provide a more holistic analysis of the
hotspots, gaps and future trends in the field. This comprehensive and
integrated exploration of “Renewable energy & Blockchain” extends 1
The first paper in the field of “Renewable energy & Blockchain” was pub
new insights and provides researchers with the necessary references to lished in 2016 when searched in the Web of Science Core Database, so the
improve their understanding and efficiency of the field. Specifically, this search time is set to 2016–2023 (index date from 2016 to 01-01 to 2023-07-25).
2
Fig. 1. Research framework.
3. Visualization results analysis application of “Renewable energy & Blockchain” (for example, the label
in the left: 1. MATHEMATICS, SYSTENS, MATHEMATICAL and 7.
3.1. Statistical analysis VETERINARY, ANIMAL, SCIENCE). On the right side of the image (Blue
Area) can be seen as the area of “Renewable energy & Blockchain”
3.1.1. Science mapping research base (for example, the label in the right: 1. SYSTEMS,
Using CiteSpace software to plot a dual-map overlay of the science COMPUTING, COMPUTER and 2. ENVIRONMENTAL, TOXICOLOGY,
mapping literature can count the literature sources, as shown in Fig. 2. NUITION). The dual-map overlay shows that science mapping papers
The left side of the image (Yellow Area) can be seen as the domain are published in almost all major disciplines (Fig. 2). Publications in the
Fig. 2. “Renewable energy & Blockchain” discipline research analysis mapping. Note: Cluster labels with numbers in the figure indicate individual disciplines. The
connecting lines between the clustering labels represent the collaborative relationships between different disciplines. The arrow points in the direction of the research
base for that research area. Connected trajectories provide interdisciplinary relationships between field studies. The thickness of the connecting lines represents the
closeness of the collaboration.
3
discipline of “Renewable energy & Blockchain” (shown in the map as technology in the renewable energy sector is gradually expanding.
curves in red) are built on top of at least four disciplines on the right-
hand side of the map [14]. We can see that the categories of research 3.2. Cooperation contribution analysis
areas are complex, which indicates that “Renewable energy & Block
chain” is also receiving attention from researchers from more disci Collaborative network mapping allows exploring not only the most
plines. Therefore, we recommend researchers to conduct active authors, institutions, and countries in the field but also the further
multidisciplinary research on this topic based on their background and exploration of collaborative relationships between authors, institutions,
interest. and countries. This will further clarify the research strength and impact
Further observation of the connecting line trajectories reveals that of each subject in the field from the micro level to the macro level.
publications in the 1. MATHEMATICS, SYSTENS, MATHEMATICAL area
are clearly influenced by publications in regions such as 1. SYSTEMS, 3.2.1. Author collaboration network
COMPUTING, COMPUTER and 2. ENVIRONMENTAL, TOXICOLOGY, Using CiteSpace author co-occurrence mapping, the academic
NUITION. The foundation and application of research in the field is impact of research scholars can be scientifically evaluated. In Fig. 4, the
more focused on Energy Systems, Energy Technology and Energy eight colors represent the groups of scholars working on renewable
Environmental Protection, etc. energy and blockchain research over the eight years from 2016 to 2023.
As shown by the number of network nodes and connections in the figure,
3.1.2. Number of publications by years more scholars started to conduct relevant research in the field of
The annual distribution of publications (Fig. 3) aims to help us un renewable energy and blockchain in 2020–2022, and there are more
derstand the research outputs on “Renewable energy & Blockchain.” The research collaborations among scholars. Accordingly, the number of
number of studies represents, to some extent, the attention and impor authors collaborating to publish related literature is also higher. Among
tance given to this research area by the academic community. Fig. 3 them, Javaid Nadeem, Kumar Neeraj, Tanwar Sudee are the authors
shows the trend change in the number of publications in the field of with a high frequency of publication.
“Renewable energy & Blockchain” in the WoS Core Database from 2016 Analyzed from the perspective of author clusters, the research au
to 2023. The number of studies published at the search point in time up thors in the field of “Renewable energy & Blockchain” are in a partially
to July 2023 is 920 in total, and this is used as this study’ s sample for concentrated and overall scattered state. The articles of key authors are
subsequent analysis. analyzed according to the further sorting of authors’ research directions
As shown in Fig. 3, only one article with the topic “Renewable energy in Fig. 4. Among them, scholar Javaid Nadeem published his first article
& Blockchain” appeared in the WoS Core Database in 2016, which is a in 2020. This scholar is currently the academic contributor with the
particularly small number. Based on annual publication volume, except highest number of publications in the field. A total of 10 articles were
for the incomplete statistics in 2023, the number of publications in this published, and the articles (with more than 10 citations) information is
field showed a rapid increase from 2016 to 2022, reaching 305 publi shown in Table 1. “Blockchain-Based Load Balancing in Decentralized
cations in 2022, accounting for 33.2% of the total number. The accu Hybrid P2P Energy Trading Market in Smart Grid” [16] is one of the
mulated publications of “Renewable energy & Blockchain” for the latest most cited articles by scholar Javaid Nadeem. The article focuses on
five years (2019–2023) are 866 (94.13% of the calculated years), it establishing a centralized energy trading system by using the charac
proves that research is prevalent. teristics of blockchain technology, such as non-tamperability, solving
Besides, we can find that annual publication’s trend is not constantly the possible trust and privacy problems of traditional energy trading,
increasing, which is common in academic research because there are establishing an efficient hybrid energy trading market, and further
study periods for research domains. Other studies also verify this reducing transaction costs. “Blockchain Based Sustainable Local Energy
statement [15]. The amount in 2023 is smaller because the data were Trading Considering Home Energy Management and Demurrage
collected in July 2023, but we are positive to assume the publication Mechanism” [17] also has a high number of citations (23). The article
trend is upward. In conclusion, with the changing policy environment investigates the optimization of renewable energy trading using the
and deepening knowledge of blockchain technology, academic research decentralized nature of blockchain technology to minimize the cost of
interest in the topic of “Renewable energy & Blockchain” is rapidly electricity by optimizing energy consumption from both the production
increasing. This also shows that the scope and impact of blockchain and consumption sides. Thus, it seems that scholars have focused on the
combined application of blockchain features and energy trading in the
study of the integration of renewable energy and blockchain fields,
which is also part of the fundamental research in this field.
3.2.2. Institution collaboration network

Institutional sharing can reflect the core institutions in a research
area and the intensity of their collaboration. Fig. 5 shows the institu
tional cooperative network, which includes 262 nodes and 360 coop
erative links. The different colors in Fig. 5 represent different times, and
the eight colors represent the institutional organizations working on
renewable energy and blockchain research over the eight years from
2016 to 2023. The figure shows that the status of research institutions is
partially concentrated and relatively scattered overall. The main
research institutions are universities, followed by new energy labora
tories and other related research institutions. In terms of geographical
distribution, the issuing institutions are mainly located in Pakistan,
China, Singapore, etc. In terms of network cooperation, there is some
cooperation among research institutions, which to some extent indicates
that universities and research institutes in various countries have rich
research experience and research ability in the field of “Renewable en
Fig. 3. Yearly publications from 2016 to 2023. Note: the number of journal ergy & Blockchain.”
papers in 2023 is incomplete and up to July. Different collaboration groups have different collaborative research
4
Fig. 4. Author collaboration network. Note: The node labels in the figure indicate the author’s name. After cropping, the node label retention condition is that the
number of articles by authors ≥ 3. The size of the font label indicates the number of articles, and the larger the label is, the greater the number of articles. The line
between the nodes indicates the existence of a collaborative relationship between the scholars. The color of the line indicates when the scholars first collaborated.
group focus on renewable energy applications, such as energy con

Table 1
sumers and producers utilizing blockchain’s distributed technology to
Javaid nadeem scholar literature summary.
trade electricity within communities [25]. The third largest group of
Rank Year Title of the cited literature Citations institutional collaborations is a relatively small group consisting mainly
1 2020 A Blockchain-Based Load Balancing in Decentralized 71 of Chinese Acad Sci (group contains cluster #3). They focus more on the
Hybrid P2P Energy Trading Market in Smart Grid models and methods used in their research, such as agent-based model
2 2020 Blockchain Based Sustainable Local Energy Trading 47
[26]. Different institutions have different collaboration interests and
Considering Home Energy Management and
Demurrage Mechanism directions, giving readers insight into looking for appropriate partners.
3 2021 Blockchain Based Data and Energy Trading in Internet 37
of Electric Vehicles 3.2.3. Country collaboration network
4 2020 Blockchain-Based Energy Trading and Load Balancing 23 The discussion of collaborating countries will not only help to sort
Using Contract Theory and Reputation in a Smart
out the current state of research in each country but also to further
Community
5 2020 Scheduling Charging of Electric Vehicles in a Secured 15 explore the trends in the development of renewable energy cooperation
Manner by Emphasizing Cost Minimization Using in each country. As seen in Fig. 7, the visualized co-country network,
Blockchain Technology and IPFS which includes 93 nodes and 571 collaborative links. It based on node
6 2020 A blockchain-based decentralized energy 13
size and color, the following countries make a significant contribution to
management in a P2P trading system
7 2020 Leveraging Blockchain Technology for Secure Energy 12 the field: PEOPLES R CHINA, ENGLAND, SAUDI ARABIA, AUSTRALIA,
Trading and Least-Cost Evaluation of Decentralized INDIA, USA, CANADA, ITALY, PAKISTAN, etc. Table 2 shows the top 10
Contributions to Electrification in Sub-Saharan Africa regions of cooperation in Fig. 7. Combining Fig. 7 and Table 2 shows that
8 2021 Two-Stage Privacy Preservation and Secure Peer-to- 11 cooperation between countries is relatively intensive. In terms of the
Peer Energy Trading Model Using Blockchain and
number of publications, PEOPLES R CHINA dominates, followed by the
Cloud-Based Aggregator
9 2022 Towards sustainable smart cities: A secure and 10 USA, INDIA and the ENGLAND.
scalable trading system for residential homes using Referring to the node details, we can see some new findings. In terms
blockchain and artificial intelligence of time, intercountry cooperation with PEOPLES R CHINA as the core
began in 2017, which started earlier and lasted longer externally.
China’s publications lead with 226, with a high degree of centrality,
interests. From the combined analysis of Figs. 5 and 6, it can be seen that
indicating that China is a significant leader in regional cooperation in
institutional collaboration is divided into three main groups. Research
this field. Among them, China’s cooperation mainly focuses on renew
institutes and universities such as COMSATS Univ Islamabad and King
able energy management. For example, for the research on blockchain in
Saud Univ are interconnected to form the first large research group (the
renewable energy management, some studies analyzed the limitations of
group contains clusters #0, #1, #5, #6, and #7). COMSATS Univ
blockchain in energy management, established evaluation frameworks
Islamabad is the most closely connected to other institutions in this
and models, conducted empirical analyses, and proposed countermea
group, which indicates a high level of information sharing in this insti
sures and solutions to optimize energy management [27,28]. In addi
tution. Further study of the cluster in which COMSATS Univ Islamabad
tion, AUSTRALIA has the highest centrality of 0.19. Though it ranks 6th
is located reveals that it is involved in energy trading [18,19], electric
in joint publications, it has stronger influence in partnerships and im
vehicles [20,21], urban decarbonization [22], artificial intelligence [23]
pacts. The direction of cooperation mainly focuses on peer-to-peer en
and smart contracts [24]. These are also the main areas of research of the
ergy trading [29], differential privacy [30], and energy systems [31].
collaborating institutions in this cluster.
In general, research related to the field of “Renewable energy &
The institutional group dominated by Nanyang Technol Univ and
Blockchain” has gradually gained the attention of many countries. Due
Univ Palermo forms an independent research chain and is the second
to disparities in various aspects, such as economy, society, culture,
largest group of institutional collaborations (the group contains clusters
talent, technology and research support, the research inevitably differs
#2 and #4). The collaborative research interests of this institutional
5
Fig. 5. Institution collaboration network. Note: The node labels in the figure indicate the name of the institution. The size of the font label indicates the number of
articles published by the institution. The linked lines of the nodes in the figure indicate the existence of a cooperative relationship between institutions. The color of
the linking line represents the time when the institutions first cooperated.
Fig. 6. Cluster of institution collaboration network.
from country to country, but the exploration of this field will involve an clustering of co-cited literature analysis are conducted.
increasing number of countries and regions as time advances. In the
future, scholars can follow the research directions of the listed countries 3.3.1. Reference co-citation network
when choosing partners and seek to collaborate with scholars from those This section conducts a co-citation analysis of the relevant literature
countries to effectively enhance their research. in the field, looking for the most-cited literature and understanding the
key results of the research in the field. Fig. 8 shows the co-citation
network mapping of literature in renewable energy and blockchain,
3.3. Reference co-citation analysis and each node in the figure represents a cited piece of literature. A larger
node means a higher citation frequency of the document. Only a few
An important feature of the CiteSpace software is co-citation analysis nodes in the network are significantly large, indicating that the research
[32]. Co-citation analysis could better quantitatively reflect the research base in this field is relatively concentrated. Among them, the basic
topic and direction. In the following section, literature co-citation and
6
Fig. 7. Country collaboration network. Note: The node labels in the figure indicate country names. The size of the node and label font indicates the number of articles
published by the country. For the convenience of analysis, the threshold range is set: When the frequency of country collaboration ≥ 30, the label is shown in the
figure. The linked lines of the nodes represent the existence of cooperation between countries. The color of the linking line represents the time when the countries
first collaborated. The nodes with purple outer circles in the graph indicate the mediated centrality of the node.
citations in this field is shown in Table 3.

Table 2
Based on the information in Fig. 8 and Table 3 above, the field of
Country collaboration.
“Renewable energy & Blockchain” was cited more frequently in 2018
Rank Country Count Centrality Year and 2019. This not only represents the remarkable research results in
1 PEOPLES R CHINA 266 0.18 2017 this field during this period but also indicates the gradual expansion of
2 USA 111 0.17 2017 the academic influence of this field in the period after 2018, realizing the
3 INDIA 85 0.16 2018
continued depth and expansion of the existing research by subsequent
4 ENGLAND 63 0.11 2017
5 SAUDI ARABIA 62 0.13 2019 studies. Based on the analysis of key nodes, according to Fig. 8, there are
6 AUSTRALIA 60 0.19 2017 three large nodes in the mapping, all of which have been cited more than
7 ITALY 60 0.11 2017 100 times. It indicates that the research results of three scholars, Andoni
8 PAKISTAN 44 0.07 2019 M, Mengelkamp E and Aitzhan NZ have been recognized and studied by
9 SOUTH KOREA 44 0.06 2017
many scholars and have a greater impact on the field of “Renewable
10 CANADA 42 0.08 2017
energy & Blockchain.”
According to the information in Tables 3 and it can be seen that
information of the top ten authors with a high frequency of total Andoni M’s paper has the highest number of citations (189), and its
Fig. 8. Reference co-citation network. Note: The node labels in the figure indicate the names of the authors and the year of publication of the cited literature. The size
of the nodes and labels indicates the number of citations. The line of nodes indicates the existence of a co-citation relationship. The color of the line indicates the time
of the first co-citation.
7
Table 3 most recent literature in terms of co-citation time, indicating that issues
Highly cited literature. about the development of transactional energy systems and improving
Rank Citing Article Freq Centrality Year energy market management have received much attention in recent
years [38,39].
1 Andoni M, RENEW SUST ENERG REV, V100, 189 0.00 2019
P143 As “smart contract”, “to-peer computing” and “consensus protocol”
2 Mengelkamp E, APPL ENERG, V210, P870 146 0.02 2018 are the core parts of the blockchain; “energy trading”, “demand
3 Aitzhan NZ, IEEE T DEPEND SECURE, V15, 114 0.08 2018 response”, “transactive energy” and “energy management” are the
P840 components of the integrated energy system; “vickrey auction” is the
4 Li ZT, IEEE T IND INFORM, V14, P3690 93 0.02 2018
5 Kang JW, IEEE T IND INFORM, V13, P3154 92 0.02 2017
methodology of the research process. Therefore, combining all the
6 Pop C, 2 SENSORS-BASEL, V18, P0 78 0.01 2018 clustering labels, it can be seen that for how to use the energy Internet
7 Wang S, IEEE T SYST MAN CY-S, V49, P1612 61 0.01 2019 and blockchain core technology to achieve the optimization of the in
8 Noor S, APPL ENERG, V228, P1385 59 0.05 2018 tegrated energy system is a research hotspot in recent years. At the same
9 Zhang CH, 2018, APPL ENERG, V220, P1 56 0.02 2018
time, improve the efficiency of energy transactions, protect the reali
10 Gai KK, 2019, IEEE T IND INFORM, V15, 55 0.08 2019
P3548 zation of maximum energy saving and emission reduction, the devel
opment of the circular economy, and the promotion of the clean energy
management are also gradually being paid attention to. Based on the
main research focuses on the impact of blockchain and distributed led topics covered in the above references, we suggest that relevant re
ger on energy market management [33]. However, observing its inter searchers expand the scope of literature reading, which is conducive to
mediary centrality shows that its centrality is low (0), indicating that finding new ideas and gaining a more comprehensive understanding of
this author has less influence in the collaboration. Therefore, in addition the field.
to focusing on their own research level, Andoni M needs to strengthen
the cooperation network among authors to better contribute to the
3.4. Keyword analysis
research in the field. In addition, the papers of Aitzhan NZ and Gai KK
have the highest centrality (0.08) in the table, and the studies citing
3.4.1. Keyword co-occurrence
their literature mainly focus on energy trading based on blockchain
Using CiteSpace software, we selected the keywords of the network
technology in power systems [34–36].
nodes and set the appropriate threshold value4, generating the keyword
In addition, some scholars have explored how blockchain technology
shared knowledge graph of articles in renewable energy and blockchain
can be applied to the microgrid energy market, providing new per
related fields (as in Fig. 10).
spectives for understanding this field [37]. The research of the above
From the information in the upper left corner of Fig. 10, we can see
scholars can be used as the cornerstone for the subsequent development
that the figure density is 0.0181, indicating that the keyword co-
of the “Renewable energy & Blockchain” field. Continuously following
occurrence network is relatively sparse and the research direction
the research work of these authors will help us learn and grasp the future
tends to be scattered. There are 336 nodes and 1020 connection lines in
trends of the field.
the graph, and Top 10 keywords with frequencies are found. The in
formation related to the Top 10 keywords in the figure was obtained
3.3.2. Clustering of co-cited reference
using CiteSpace software, as shown in Table 5.
Clustering analysis of co-cited literature can accurately indicate the
First, the key nodes were searched based on the chart information to
main directions of research in each field. Therefore, based on the liter
reveal the research context. These keywords are highly related to
ature co-citation network mapping, the literature was clustered and
“Renewable energy & Blockchain” and have been mentioned or
analyzed. The keywords were extracted as the clustering labels, and the
analyzed in previous analyses in this paper. There are some details.
clustering results are shown in Fig. 9. According to the information in
Analysis of Fig. 10 and Table 5 shows that, in addition to the retrieved
the upper left corner of Fig. 9, Q = 0.7179 and S = 0.86792 indicate a
subject terms (“renewable energy” and “blockchain”), according to Freq,
significant clustering structure and reasonable clustering.
“smart contract”, “management”, “internet”, “system” and “smart grid”
56 clusters were created by clustering analysis. After screening3, the
are larger nodes and appear more frequently (more 100 times), which
irrelevant clusters were removed, and the specific information of the
represent the research hotspots in the area of “Renewable energy &
remaining 8 clusters are shown in Table 4.
Blockchain.” It indicates that in the research of “Renewable energy &
The number of co-cited literature included in each cluster in Table 4
Blockchain”, the research on energy management, system optimization
is indicated by the Cluster ID, with smaller numbers representing more
and power trading based on technologies such as smart contracts and the
co-cited literature in that cluster and more keywords contained in that
internet is in an important position [40,41].
cluster (clusters with fewer keywords are not shown in the figure).
In addition, although “challenge” and “internet of things” appear less
Combining the analysis of Fig. 9 and Table 4, it can be seen from the
frequently, their centrality is higher5, which represents their higher in
clustering that the most-cited literature is divided into 8 research cate
fluence and importance. This suggests that challenges in the research
gories based on keywords, including #0 energy trading, #1 smart con
field, as well as the development of IoT in the field, are “bridges” to
tract, #2 to-peer computing, #3 consensus protocol, #4 demand
research hotspots. For example, Casquiço M addresses the issues of en
response, #5 transactive energy, #7 energy management, #8 vickrey
ergy efficiency and energy sustainability by combining IoT, blockchain,
auction. Among them, “energy trading” has the most co-citation fre
and smart contracts to study a renewable energy production grid model
quency, indicating that it is the hottest topic in the field. In terms of time,
for decentralized generation of renewable energy [42].
the categories of “transactive energy” and “energy management” are the
Combining Freq and Centrality, the keyword “management” de
serves attention. The keyword “management” has high centrality and
2
Modularity (Q) value and Silhouette (S) value are indicators to evaluate the
4
validity of cluster analysis graphs. Q value is usually in the range of [0, 1]. The The threshold range set in the figure is based on the frequency of keyword
cluster structure is significant when Q > 0.3. The S value indicates the average occurrences. The higher the frequency of occurrence, the larger the nodes in the
homogeneity of each cluster. A cluster is generally considered reasonable when figure. Therefore, for the convenience of analysis, the threshold range is set: the
S > 0.5. frequency of keyword occurrences ≥ 30 times is shown in the figure.
3 5
In CiteSpace analysis, if size<10, the clustering is proved to be poor, so only The higher the centrality of a node, the more it appears on the shortest path
clusters with size ≥ 10 is analyzed in this paper. in the overall network, and the greater its influence and importance.
8
Fig. 9. Co-cited reference clustering mapping. Note: The cluster color blocks in the figure correspond to the cluster labels. The color of the cluster color block is
determined by the average year of publication of the clustered literature. The clustering labels in the figure are determined by the keywords of the clustered
literature, and the smaller the label number is, the more keywords are included in the clusters.
co-occurrence frequency, including user consumption management (e.g.

Table 4
Demand-side Management) [43], energy trading security management
Co-cited cluster information.
(e.g. Privacy Management) [44] and system operation management (e.g.
Cluster ID size Silhouette Year Label Internet of Things, Blockchain and Smart contracts) [45]. Machine
0 82 0.922 2018 energy trading learning, artificial intelligence and various optimized algorithmic
1 64 0.774 2018 smart contract models have been applied to solve these management problems [46]. In
2 44 0.88 2018 to-peer computing
conclusion, these co-occurred keywords provide clear pictures for re
3 42 0.875 2018 consensus protocol
4 42 0.794 2018 demand response searchers to proceed with targeted studies.
5 38 0.768 2019 transactive energy
7 25 0.913 2020 energy management 3.4.2. Keyword burst
8 24 0.936 2017 vickrey auction Keyword burst mapping mainly analyzes the keywords whose word
frequency co-occurrence increases suddenly within a certain period. A
higher keyword burst degree indicates more prominent academic
attention to the keyword and is more representative of the latest
research development trend in that time period. Therefore, by tracking
Fig. 10. Keyword co-occurrence network. Note: The node labels in the figure indicate the keywords in the literature. The size of the node indicates the frequency of
keyword occurrences, with a larger number indicating a greater number. The line of nodes represents the occurrence of two keywords in one article.
9
Table 5 recent years and a further research trend in the future. In conclusion,
Top 10 keywords. these results help new research entrants to quickly understand current
Rank Freq Centrality Year Keywords frontiers, predict future research directions, reduce potential research
costs, and conduct research more efficiently. These are emergent terms
1 142 0.03 2017 smart contract
2 133 0.08 2017 management that have appeared in the last three years and represent new emergent
3 126 0.04 2018 internet trends and research frontiers. This shows that optimizing energy trans
4 124 0.02 2018 system actions and promoting renewable energy through big data and infor
5 123 0.01 2017 smart grid mation technology is a hot research topic in recent years and a further
6 103 0.01 2018 blockchain
7 100 0.05 2018 renewable energy
research trend in the future.
8 93 0.03 2018 technology In conclusion, these results help new research entrants to quickly
9 89 0.06 2018 challenge understand current frontiers, predict future research directions, reduce
10 68 0.07 2017 internet of thing potential research costs, and conduct research more efficiently. Overall,
during the 8-year period of 2016–2023, the research perspective in
“Renewable energy & Blockchain” is more concentrated, and the main
the changes in the “Renewable energy & Blockchain” field over the
research direction focuses on the field of renewable energy trading.
period of 2016–2023, we can better identify the trends of this field’s
themes over time, as shown in Table 6.
3.4.3. Keyword evolution
Through keyword burst analysis, 15 keywords were found to have
To further examine the trend and historical span of the theme change
bursts. The keywords with high burst intensity are the emerging hot
in the literature study, the keyword change timeline map was drawn
directions in the research field. Further analysis shows that the term
based on keyword mapping (Fig. 11). Fig. 11 takes the year of keyword
with the highest burst intensity is “Transactive energy,” with a burst
occurrence as the marker point and the frequency of occurrence as the
intensity of 3.52. It focuses on the production and use of interactive
cumulative amount for clustering. The map can better reflect the the
energy in the development process of blockchain in the field of renew
matic changes and evolution of the development of renewable energy
able energy. Interactive energy research started earlier and is relatively
and blockchain fields to analyze the research hotspots at each evolu
mature, and the relevant references are numerous and valuable.
tionary stage.
Therefore, scholars can find new academic perspectives and break
The structure and evolution of the development of knowledge in the
throughs by studying relevant literature in the field.
research area can be clarified according to the temporal lineage. As can
The five keywords with the highest strengths in Table 6: “Renewable
be seen from Fig. 11, articles in the field of “Renewable energy &
energy” (Strength: 3.99), “Transactive energy” (Strength: 3.52), “Peer-
Blockchain.” only started to appear in research in 2016. The keywords in
to-peer energy trading” (Strength: 3.13), “Energy internet” (Strength:
the figure all involve multiple time slices, reflecting the continuity of the
3.03), “Smart grid” (Strength: 2.72). These keywords reflect a potential
research.
turning point for hot topics in the field, explaining that research in the
In terms of clusters, the #0 cluster with the keyword “artificial in
“Renewable energy & Blockchain” field focuses more on the use of en
telligence” has the largest number of keywords, which indicates a hot
ergy internet, smart grid and blockchain technologies to realize energy
issue studied in the field of “Renewable energy & Blockchain” and is also
interactions and improve renewable energy transactions. For example,
a cluster with a long research time span. The first research literature
how to optimize the transaction process in the energy market, improve
began to appear in 2016, and the research continued and intensified
the efficiency of the transaction, and guarantee the security of data [47].
until 2023. The cluster includes keywords of distributed ledger, internet
“Efficiency”, “Data aggregation” and “Strategy” have bursts time of
of thing, blockchain, internet, artificial intelligence, algorithm, edge
2021–2022. “To-peer computing” has an bursts time of 2021–2023.
computing, wireless sensor network, smart and resource allocation. This
These are emergent terms that have appeared in the last three years and
cluster focuses on technical security issues for the sustainable develop
represent new emergent trends and research frontiers. This shows that
ment of blockchain in the field of renewable energy [48]. Such an
optimizing energy transactions and promoting renewable energy
evolving cluster motivates us to discover more about the potential
through big data and information technology is a hot research topic in
benefits of blockchain development in the field of renewable energy
from an application perspective.
Table 6 In terms of time, the #7 cluster with the keyword “energy internet”
Top 15 keywords with the strongest citation bursts. had a late start as the first studies began to appear in 2018. However,
Keywords Year Strength Begin End 2016–2023 due to the expanding scope of blockchain applications and the
Transactive 2017 3.52 2017 2019 increasing attention of big data and energy consumption in the
energy Renewable energy field, there has been continuous research so far. As a
Smart grid 2017 2.72 2017 2021 result, scholars may need more time and cost to obtain research results.
Agriculture 2017 1.26 2017 2020
Specifically, regarding “energy internet”, representative literature dis
Renewable 2018 3.99 2018 2019
energy
cusses the use of energy internet to secure distributed renewable energy
Peer-to-peer 2018 3.13 2018 2019 transactions. Energy internet can improve the efficiency of energy
energy trading transactions and make distributed renewable energy transactions easier
Energy internet 2018 3.03 2018 2021 to manage and control [49].
Optimization 2018 2.36 2018 2019
In addition, #0 “artificial intelligence”, #1 “energy management”,
Electricity 2018 1.83 2018 2020
Smart contract 2018 1.24 2018 2019 #3 “smart contracts”, #4 “to-peer power trading” and #7 “energy
Energy 2019 2.32 2019 2020 internet” related research has continued from its inception to the pre
consumption sent, indicating a trend of gradual warming and a high level of research
Big data 2019 1.39 2019 2020 interest. The complexity and diversity of these topics further confirms
Efficiency 2020 1.87 2020 2021
Data aggregation 2020 1.25 2020 2021
that blockchain research in renewable energy cannot be focused solely
Strategy 2020 1.25 2020 2021 on electrical energy. It should integrate other disciplines such as infor
To-peer 2021 1.97 2021 2023 mation technology. In the future, the use of information technology and
computing internet technology to build smart grids, achieve energy management,
Note: The red line is the period when the subject word bursts into existence, and and optimize energy transactions is a hot direction for research. In
the blue line is the other periods when no bursts occurred. summary, this indicates that the research in the area of renewable
10
Fig. 11. Keyword timeline mapping. Note: Each line of node labels in the figure is the main keyword in the right-hand clustering. The size of the nodes indicates the
frequency of key occurrences, and a larger node indicates a higher cumulative frequency of keyword occurrences. The line between nodes indicates that two
keywords appear in the same literature.
Fig. 12. Research status.
11
energy trading and application is widespread and has been increasingly et al. [58] proposed a model predictive control (MPC) framework that
popular. integrates future supply and demand forecasts into current dispatch
decisions to create an optimal power scheduling strategy that maximizes
4. Research status discuss and development trend forecast the use of renewable energy and improves renewable energy utilization.
Scholars such as Mengelkamp E (2018) [59], in order to ensure the
4.1. Research status discuss balance of energy production and consumption, have proposed that the
supply and demand sides of electricity implement peer-to-peer trading
Through the quantitative analysis (Statistical analysis, Collaboration of the energy produced by themselves in the microgrid energy market
analysis, Co-citation analysis and Keywords analysis) of the research —in combination with blockchain technology—to be used as an auxil
themes and research hotspots, the current research status is mainly iary means to optimize the microgrid energy market, which effectively
focused on energy trading in the field of “Renewable energy & Block solves the uncontrollability of the current generation method [59]. Wu
chain,” as shown in Fig. 12. Therefore, this section will review the Gan (2017) [60] and Bin Li (2019) [61] et al. proposed designing an
current research status of blockchain application to renewable energy energy trading scheme using the features of blockchain distributed
trading based on the following two aspects. ledgers and decentralization, which is targeted to solve the renewable
energy consumption problem. Wang L (2020) et al. [62] proposed a
4.1.1. Renewable energy power trading & blockchain pricing strategy for multi-energy markets based on blockchain tech
Blockchain technology-based renewable energy trading not only nology, which adopts strategic pricing with real-time adjustment of
eliminates intermediaries and reduces transaction costs but also pro energy floor prices and dynamic compensation for fossil energy offers,
vides transparent data accessible to multiple parties while protecting the enabling all energy trading participants to adjust energy bid prices based
privacy of both sides of the transaction. The combination of the two on real-time information.
makes the renewable energy trading process more secure and conve With the premise of considering the stability of the renewable energy
nient, and the trading area is expanding. Therefore, as the research field trading market [59], experts have considered renewable energy trading
of “Renewable energy & Blockchain” continues to grow, some experts strategies from the perspective of renewable energy trading applica
and scholars are studying the application of blockchain in the area of tions. Ouyang Xu (2017) et al. [63] based on blockchain technology,
energy power trading from different perspectives. proposed a transaction framework for direct power purchase by large
users and illustrated the practical application of blockchain technology
4.1.1.1. Trading security. In terms of transaction security, some experts in renewable energy trading based on four aspects: market access,
have researched blockchain technology as the basis for secure trans trading, settlement and physical constraints. The systematic illustration
actions. Tan S (2019) and other scholars [50] proposed a shows that blockchain technology, as an emerging distributed database
privacy-protected energy scheduling (PPES) model based on an energy technology, has great potential for application in future energy trading
blockchain network. The model can reflect energy supply information, and energy internet [63]. Zhou Z (2019) et al. used electric vehicles as
secure transaction data, and facilitate energy service companies to energy response subjects to participate in the energy dispatch of smart
implement efficient and transparent scheduling management [50]. Yan cities and guaranteed the sustainability of electric vehicles by designing
M (2022) and other experts [51] provide non-iterative and scalable a transaction incentive mechanism based on blockchain technology and
decentralized energy management based on blockchain technology for smart contracts [64]. Experts such as Su Z (2018) et al. [65] proposed a
multi-integrated natural gas power systems. The proposed decentralized new energy allocation mechanism to promote the integration of
energy management is privacy-preserving, low-complexity, and globally distributed renewable energy and EVs in the smart grid in order to
optimal [51]. Li Bin (2017) and other experts [52] elaborated on the further improve the utility of operators and EVs.
technical application perspective of blockchain technology in terms of
proof-of-workload mechanisms, interconnection consensus, smart con 4.1.1.3. Trading system. In terms of trading systems, as the research
tracts, and information security, all of which are conducive to solving field of renewable energy trading and blockchain continues to grow,
the technical problems of financial security and notarization of opera some experts and scholars have proposed a series of mechanisms to
tion behavior in automatic demand response systems [52]. improve the energy trading system, improve the trading model and
In the peer-to-peer energy trading model, blockchain is the main expand the energy trading field in different ways. Carbon emissions
technical means supporting the security of energy P2P transactions. trading systems (ETS) have encouraged greater use of renewable energy.
Kang J (2017) et al. [53,54] proposed a peer-to-peer power trading Muzumdar A (2022) et al. [66] proposed a new ETS based on blockchain
system and a transaction model that does not rely on third-party services that better addresses the existing ETS suffers from carbon credit fraud,
based on federated blockchain technology for local power trading of poor monitoring, verification and reporting (MRV) issues, and guaran
plug-in hybrid vehicles in smart grids, which ensures the security of the tees the transparency of carbon credit (CC) transactions by utilizing
transaction. Huang X (2018) et al. [55] proposed a decentralized three smart contracts (carbon credit sales, carbon credit purchases, and
transaction model based on smart contracts in an energy blockchain carbon credit transactions) in the blockchain to achieve reliability and
system to enhance the security of electric vehicle and charging pile security in energy trading. Olivares-Rojas J C (2021) et al. [67] experts
transactions in P2P networks. Seven S (2020) et al. [56] proposed a P2P have built a model for electricity trading based on a blockchain system
energy trading mechanism and bidding platform based on public that allows producing consumers to commercialize electricity. This fa
blockchain networks to solve transaction cost and security problems. cilitates the transformation of the electricity market. Cioara T (2021)
Wang L (2021) et al. [57] proposed a renewable energy microgrid en et al. [68] proposed the use of public blockchain and self-executing
ergy management model based on a permission blockchain for the smart contracts to build virtual power plants (VPPs) for production
monitoring and management of a P2P energy trading platform, which consumers to provide energy services and provide a new model for
solidly ensures the information privacy of each node in the network renewable energy trading. Chen S (2022) et al. [69] proposed a block
transaction. chain consensus mechanism customized (PoSo), which enables energy
scheduling and trading for two integrated energy systems and greatly
4.1.1.2. Trading strategy. First, in terms of trading agents, the combi improves the efficiency of transactions.
nation of renewable energy and blockchain technology can change the Experts propose a blockchain-based P2P energy trading system based
distribution of electricity and promote the production and trading of on P2P energy trading features combined with blockchain technology.
distributed electricity between buyers and sellers. Aldaouab I (2019) P2P energy trading features mean that each node is allowed to decide
12
which node to trade with based on its own objectives (e.g., lowest cost, blockchain attention in renewable energy power trading.
highest profit, lowest pollution, most reliable energy supply, etc.) [61,
70]. As shown in Fig. 13, peer-to-peer matching transactions can be 4.1.2. Renewable energy certificate trading & blockchain
executed in a publicly verifiable manner, for example through smart Certificate trading is an important application of blockchain in the
contracts. Xiang K (2018) et al. [71] established an automatic demand area of renewable energy trading. For example, based on smart con
response node model for electric vehicle battery energy storage systems tracts, proof-of-workload mechanisms, proof-of-interest mechanisms,
based on blockchain technology, and the application of blockchain etc., are all used in blockchain technology. The blockchain energy
technology in the area of energy storage was extended. Rahmadika S trading platform is used as a carrier to create energy carbon pass-
(2019) et al. [72] proposed a decentralized energy trading system be through certificates with carbon reduction as the core [78]. This can
tween neighbors, which is unified by the same blockchain network to not only realize the incentive for renewable energy consumption market
manage trading activities and reduce transaction costs. Thus, the quality subjects but also put forward design ideas for the establishment of new
of service of the trading system is raised to a new level, paving the way business models in the future. Sheng-nan Zhang (2021) et al. [79] also
for the advancement and industrialization of the trading energy system proposed the application model of blockchain in the links of market
[73]. Matsuda Y (2021) et al. [74] based on blockchain technology, subject identity authentication, voucher certification and voucher
constructed a peer-to-peer energy trading system that indirectly im on-chain trading.
proves the virtual matching of energy supply and demand in the P2P Among the applications in the field of certificate trading, green
energy market, and guarantees the safety and stability of energy trans certificate trading is one of the more important types of certificate
portation. Umar A (2022) et al. [75] proposed a secure energy man trading. Li Da (2021) [80] et al. proposed a blockchain-based model for
agement system using blockchain technology that can encourage users the aggregation and circulation of green certificate transactions, as
to use a secure and efficient internal P2P energy trading platform to shown in Fig. 14.
further promote self-sufficient community microgrid systems. Energy In this study, by further searching the keywords “blockchain” and
trading in P2P energy markets can provide an additional source of “green certificates” in the core databases of CNKI and WOS, the research
revenue for renewable energy producers and potentially reduce energy directions of blockchain-based green certificate trading are summarized
costs for end consumers [76]. as follows:
In summary, blockchain in renewable energy power trading, the
existing research hotspots mainly focus on the use of blockchain tech (1) Research on the green certificate trading model. Due to the
nology to guarantee the security of renewable energy trading, improve voluntary nature and other characteristics of traditional green
the energy trading system, and improve the energy trading strategy and certificate trading, the restrictions and incentives for the market
mode. Blockchain-based energy trading has been a popular research players involved in trading are weak. Therefore, some scholars
topic. New blockchain architectures, models, and products continue to have explored a new model of green certificate trading in
emerge, overcoming limitations such as low efficiency, high transaction blockchain peer-to-peer networks. For example, Hu C Y (2021)
costs, and security and privacy issues in energy trading, forming a et al. [81]consider the impact of the supply and demand of green
virtuous circle. The internal combinations of different blockchain types, certificates in the market on the price of green certificates and
as well as the combination of blockchain and other technologies, have new energy tariffs, propose the green certificate trading model for
improved the blockchain-based energy trading system, which better electric vehicles under the blockchain platform. It will enable
meets the actual needs of modern power systems. However, there are electric vehicles to take on the task of green certificate quota and
still some problems that need to be solved, such as the lack of regulatory further enhance the benefits of new energy generators and reduce
system, imperfect energy management, and environmental challenges the cost of electric vehicles [82]. Feng C S (2021) et al. [83]
[77]. They will be the focus of future research. In addition, proposed a blockchain-based model for a joint green certificate
blockchain-based P2P microgrids can support the development of and carbon trading market. The model connects green power
renewable energy, provide solutions for local energy system optimiza generators with traditional fossil energy generators and promotes
tion, and reduce grid loads and delays, which are also the focus of future energy transition through the global optimal allocation of green
Fig. 13. Blockchain-based P2P energy trading system [61].
13
Fig. 14. Blockchain-based green certificate transaction aggregation and circulation model [80].
certificates and carbon resources to incentivize renewable energy renewable energy green certificate trading, in addition to focusing on
generation and limit carbon emissions from traditional fossil the optimization of the green certificate trading mode itself in the
energy units. blockchain peer-to-peer network, should pay more attention to the
(2) Research on green certificate trading design. Scholars rely on trading mode and trading strategy between the blockchain and the
existing trading scenarios to study the network architecture various subjects of green power trading in the power market.
design and optimization of blockchain technology in green cer
tificate trading. Luo Z (2021) et al. [84] proposed an integrated 4.2. Research gap analysis
energy system optimization model containing cross-chain trading
of green certificates based on blockchain technology. Wang H Based on the above discussion of the current state of research in the
(2018) et al. [85] proposed the adoption of blockchain technol field of “Renewable Energy Trading & Blockchain”, we further sum
ogy in a microgrid for the authentication and trading of carbon marize the gaps and challenges in the current research.
emissions and green certificates to optimize the traditional
trading system. Dong Ling (2020) et al. [86] proposed deploying 4.2.1. Application aspects of renewable energy and blockchain
a blockchain-based renewable energy consumption certificate Previous studies on the application of “Renewable energy & Block
trading system to enable its full consumption. Finally, Dong Ling chain” have mainly focused on electricity trading. Most of these studies
and other scholars put forward valuable suggestions for the focus on the convenience of blockchain for electricity trading due to its
development of renewable energy consumption in China in terms decentralization and privacy features but rarely consider the limitations
of rulemaking, allocation principles, data sharing, etc. [86]. of blockchain in electricity trading [89]. Power trading, unlike data
(3) Research on green certificate trading application, for example, trading and financial trading, must meet the physical constraints of the
for the issue and tracking of green certificates. Taking the system power network. Therefore few trading systems have really considered
developed by IDEOCo Lab, Nazdaq and Filament (an IoT device hardware implementation at the physical level, and the limitations of
company) to automatically create renewable energy certificates blockchain hardware have a significant impact on the design of trading
(RECs) as an example, Cai Yixuan (2017) [87] proposes that systems [90]. Besides, blockchain electricity sales emphasize decen
blockchain technology can effectively reconcile the actual elec tralization in mechanism design, self-coordination and self-aggregation
tricity issued with the electricity accounted for by green certifi among users. However, distributed power generation and consumption
cates based on electricity demand valuation, further simplifying have problems such as dramatic peaks and valleys, considerable un
the green certificate accounting process and reducing electricity certainty, convergence of user habits, irrational transactions, and overly
errors. Zhu Y J (2018) [88] proposed that using the confidenti centralized markets. Therefore, it is easy to cause a surge or decrease in
ality and distributed functions of blockchain technology can solve the demand of peer-to-peer power trading on the blockchain [91]. These
the problems of unknown transaction subjects, inadequate are the problems to be solved in the application of “Renewable energy &
transaction supervision, and high transaction risks in the current Blockchain.” In summary, future research should pay more attention to
green certificate trading system. This ensures that the green the limitations of blockchain decentralization and other features of
certificate transaction data are non-tamperable and traceable and renewable energy applications [92].
improves the security and efficiency of the green certificate
trading system. 4.2.2. Technical aspects of renewable energy and blockchain
In the research of blockchain and renewable energy technology, the
To summarize, blockchain in renewable energy certificate trading, complex clearing and blockage management methods in the current
the existing research mainly focuses on green certificate trading mode decentralized trading model based on blockchain need to be fully or
research, green certificate trading design research, and green certificate partially completed under the blockchain. Therefore, if there is a prob
trading application research. In the future, with the development of the lem in the trading system, the whole trading process will be affected.
green certificate market, power grids, supervisory and auditing organi Artificial manipulation of the market and leakage of user privacy data
zations, trading platform operators, and a large number of trading under the chain may occur, bringing higher risks to the operation of the
subjects will be involved. Based on blockchain technology, each trading trading market [93]. In addition, the application of foreign blockchain
body can track and update the status of green certificates at any time, platforms in China’s energy industry also has data security risks [94].
just like certificate trading in the financial field. Therefore, in terms of Therefore, in the future application of blockchain in the process of
14
renewable energy trading, more attention should be given to the gradually changed to producers [100]. In practical applications, a va
possible problems in the increase of blockchain throughput, security riety of blockchain system architectures can be used to coordinate the
protection and data processing optimization. Meanwhile, further distribution of distributed energy. However, different types of block
attention should be paid to the corresponding solution measures. At the chain technologies, such as distributed storage technologies, consensus
same time, it is necessary to develop an independent and controllable algorithms, and smart contracts, have their own advantages, disadvan
domestic blockchain platform to promote the deep construction of tages, and challenges. Therefore, effective policy specifications should
Chinese energy blockchain applications [94]. be constructed when using blockchain technology to improve distrib
Investigate and determine which blockchain solution is best suited uted energy systems [101]. Moreover, in most countries, grid taxes are
for the distributed energy trading environment by considering various an important part of national revenues. While electricity transaction fees
attributes [95](such as scalability, cost, computational efficiency, can be appropriately adjusted in a blockchain system, there is still a need
transaction response time, and transaction size). This is still an open for an applicable regulatory system. Without legal guidance, it will be
question. In addition, there are technical aspects of renewable energy difficult for it to be widely adopted, especially by large companies [77].
supply and demand management, storage management, etc. [96].
Renewable energy is inherently intermittent, uncertain, and seasonal.
For energy storage, conversion and distribution, the current technical 4.3. Research trend forecast
architecture is difficult to provide reliable and secure energy when not
connected to the main grid [97]. It is difficult to ensure the supply and Based on the analysis of the above visualization results, current
demand of resources to achieve seasonal peaking and frequency regu research status and research gaps, the research trends in the field of
lation [98]. Therefore, more solutions are needed to manage energy “Renewable energy & Blockchain” are predicted as follows (see Fig. 15).
supply, demand and storage for microgrid architectures.
4.3.1. Energy management
4.2.3. Policy aspects of renewable energy and blockchain In the future, energy management and blockchain will complement
Juszczyk O (2022) [99] suggests that blockchain is hampered by each other, and “energy management & blockchain” will be the main
various barriers to its widespread use in the renewable energy sector. It stream development trend of the electric energy economy. Energy
mainly includes lack of regulation and legal compliance, global stan management is a highly centralized industry [102]. In the field of energy
dardization issues, infrastructure transformation challenges, or block trading, this is mainly reflected in the energy consumption management
chain trust and reputation issues. While different countries or regions, and the security of energy trading management [44,45]. Renewable
such as Japan and Europe, have started to develop regulations on energy producers and users cannot trade directly and need to go through
blockchain, the lack of globally harmonized regulations is a major the public grid or trusted private intermediaries. The use of blockchain’s
obstacle to the application of blockchain in the energy sector [77]. Clear decentralization and data inerrancy can guarantee the security of
and consistent regulations are needed to manage renewable energy transaction data to a certain extent and low transaction costs [103,104].
systems, regulate electricity prices and resolve possible disputes. Based Therefore, the application of blockchain technology in energy trans
on the above research status, it can be seen that the current relevant action security management is the main trend of future development.
research on the combination of blockchain and renewable energy With the increase of decentralization and digitization of the whole
mainly focuses on the two areas of renewable energy power trading and process of energy management, the data to be evaluated and analyzed in
renewable energy certificate trading. However, both power trading and each link is overflowing, and artificial intelligence helps to process these
green certificate trading cannot be separated from policy support. data quickly and efficiently. Therefore, the integration of blockchain
In energy trading, distributed energy is taken as an example. and artificial intelligence in renewable energy management is a key area
Distributed energy has gradually changed from a centralized, one-way for future research [105].
market to a decentralized, two-way market, and consumers have Energy management can be applied to communities in the future as
well. The increasing integration of distributed generation and battery
Fig. 15. Research gaps and trends within “Renewable energy & Blockchain”.
15
storage equipped with smart meters paves the way for the use of digital breached, it will pose a great threat to the security of electricity and
platforms to manage distributed energy resources (DERs) [106] and energy use in society. However, by using the tamper-evident charac
Home Energy Management (HEM) system [107]. The use of DERs and teristic of blockchain technology, it is possible to automatically warn the
HEM not only improves the overall performance of the microgrid sys system when there is a security risk, avoid human errors, and better
tem, but also enables producers and consumers to optimize energy protect the infrastructure [114]. Therefore, the future application of
consumption and reduce electricity costs. Following the expansion and blockchain technology in energy systems to solve problems such as
digitization of distribution infrastructure, peer-to-peer (P2P) network and operational security aspects is significant.
intra-energy trading can be developed in the future as a new model for
electricity trading in community microgrid systems [75,108]. 4.3.4. Green certificate trading
According to national policy, future research will focus on green
4.3.2. Energy internet development. The concept of green blockchain has now been proposed
Although blockchain technology is still facing many technical diffi by academics. The concept has been applied to another area of the en
culties in the field of the energy internet, there is still a huge space for ergy market for the management of environmental certificates, emission
the development of energy blockchain. With the applicability of block permits and other green certificate programs [115]. Green certificates
chain technology in the energy internet and the natural coupling be can be automatically traded and recorded through a green certificate
tween them, the integration of the two is bound to have broad trading platform based on blockchain smart contracts. Blockchain
development prospects. In the future, a blockchain-integrated energy technology can verify creditworthiness, as well as real-time data at the
interconnection system, which can be utilized through the integration of source of energy production, and obtain an authentic tracking chain to
renewable energy sources (such as solar energy, wind energy, show “where renewable energy comes from,” “where it goes,” and
geothermal energy, etc.), with traditional power generation energy, “where it is used.” [92] The credits can also be exchanged between
reducing energy consumption and cost while realizing the complemen different power generating entities to derive economic value and envi
tary coexistence of energy sources [109]. Energy interconnection sys ronmental value.
tems can be widely used in buildings, industry, agriculture and other In addition, in international green certificate trading, there are
fields [110]. It effectively promotes the production of clean energy and common problems such as the difficulty of unifying trading certificates
the timely and efficient consumption and utilization of energy, ensures and the complexity of the trading process. In the future, relying on
its economy and stability, and achieves the goal of energy conservation blockchain technology, it will realize the process of capturing the dy
and environmental protection [111]. namic formation of carbon assets from the source of green certificate
In addition, along with the increasingly powerful interactive opera production, and open up the data barriers between the key subjects of
bility of the internet, there are bound to be security issues such as green certificate trading [116]. As the application of blockchain in the
vulnerability to ransomware and hacking attacks. Therefore, the appli energy area continues to expand and the research continues to deepen,
cation of blockchain and its secure network in the energy sector is future research on “Green certificates & Blockchain” can better solve the
promising. Although it is still in its early stages, this trend is worth security problems of green certificate trading in the energy internet and
observing. If we want renewable energy generation to catch up with promote the application and development of blockchain in green cer
fossil fuel generation, we need to use the internet [112]. In the future, tificate trading [117].
the development of blockchain through the combination of energy
internet and high-speed communication, smart grids, etc., will be 4.3.5. Green power trading
conducive to the digitalization of distributed renewable energy In the current internet environment, the green power certification
generation. process is complex and costly, and there are potential points of vulner
ability such as forgery and tampering. First, the green power trading
4.3.3. Energy system body is very diverse, involving the generation, transmission, distribu
Blockchain technology has huge potential applications in future tion, delivery, use and other aspects, and information traceability is
energy internet platforms capable of moving toward decentralization difficult. Second, green power types and information are complicated,
and self-execution. With the powerful algorithms of consensus mecha the certification process is complex, and there is a high cost of human
nisms, encryption methods and verification mechanisms, blockchain and material expenditure. Third, green power certification lacks
systems can solve several problems in emerging scenarios. authoritative and effective mechanisms, and its credibility and “com
Blockchain technology is utilized to build the national distributed modity” value have not been fully developed. Blockchain’s unique chain
system for the energy internet, including distributed energy generation storage structure provides the possibility of effective “cascading” for the
system and distributed energy storage system. In the distributed energy whole link of green power production, transaction, transmission and
generation system, Internet and blockchain technologies are utilized to consumption, which in turn can guarantee the authenticity and credi
interconnect many distributed power systems to form a powerful energy bility of green power from the source.
network. It can effectively manage the national energy and solve the Currently, several studies have begun to focus on the regulatory
problems of regional imbalance as well as the efficient and coordinated system of blockchain in the field of green power trading. Analysis of the
utilization of energy sources [111]. In the distributed energy storage regulatory mechanisms in the EU and the US shows that it is possible to
system, the use of the Internet and blockchain technology can be real obtain greater added value with minimum regulatory limits [77]. In the
ized in a unified system to manage cross-regional energy storage, opti future, blockchain technology will be used to escort “green power
mize the energy storage model, and realize the combination of local trading and certification” and realize the traceability and certification of
storage and cloud storage. This allows energy to be managed and green power. It further guarantees the authenticity and credibility of
deployed centrally in a unified manner, solving the problems of national green power consumption and activates the commodity value and
energy regional imbalance and efficient and coordinated utilization of environmental value of green power. It is a promising tool to serve the
energy [111]. goal of “double carbon.”
Due to the continuous development of IoT technologies, global en
ergy companies are increasing their efforts to integrate energy assets 5. Conclusion
with information technology. More and more equipment are being
installed which can perform data collection, processing and trans In recent years, renewable energy has been developing rapidly, and
mission to serve the information management and control system of there are an increasing number of related studies in the area of renew
enterprises [113]. Once the system of centralized data management is able energy. However, with the development of energy, many problems
16
have been exposed. Relieving the support dilemma of renewable energy power trading and the application of blockchain in the field of renew
is a challenging issue. Blockchain technology has the characteristics of able energy certificate trading. It also summarizes the current research
decentralization, self-trust, and non-tamperability. The application of gaps and future research trends in the field of “Renewable energy &
blockchain technology in the area of renewable energy can further Blockchain” with the above visualization results. Based on the findings
standardize the transaction process, improve the transaction mecha of this study, the field currently needs further research in terms of ap
nism, guide the benign development of renewable energy, and solve the plications, technologies and policies. Among the technical aspects, this
energy support dilemma. Therefore, a comprehensive and quantitative paper, in summarizing the research gaps, suggests that the current
literature review is necessary to understand its current status and technical architecture of blockchain is inadequate to ensure the supply,
progress by summarizing the literature. CiteSpace was used to visualize demand and storage of energy in the grid. This is in line with the
in order to quantitatively and qualitatively analyze the current status of conclusion reached by the summary of experts such as Nour M [120]
research development, impact contributions, research themes and evo that the shortcomings of blockchain technology hinder the large-scale
lution, research hotspots and frontier trends. The conclusions are as application of renewable energy in the power sector. Future research
follows: trends include the combination of blockchain and artificial intelligence,
the combination of blockchain and the internet, and the combination of
(1) From 2016 to 2023, the number of publications in the field of blockchain and green power trading. Expert studies such as Hua W [121]
renewable energy and blockchain increased rapidly, especially in and Fakhar A [105] consider blockchain and artificial intelligence (AI)
2021 and 2022. This indicates that an increasing number of re as two innovative technologies. The incorporation of blockchain and AI
searchers and journals are interested in this field. This finding is in smart grid is beneficial to promote efficient consumer participation in
in line with the findings of experts such as Gawusu S [118], who energy market, which is consistent with the findings of this paper.
found that blockchain research in energy is more focused on The findings of this paper will help researchers gain a comprehensive
renewable energy. Among them, energy system, energy tech understanding of current research in the field of “Renewable energy &
nology and energy environmental protection are important dis Blockchain” and to identify future directions for the field in order to
ciplines for basic research and applied practice in the area of enrich the understanding and grasp of renewable energy development
“Renewable energy & Blockchain.” for energy trading practitioners and to seize the potential opportunities
(2) Javaid Nadeem, Kumar Neeraj, Tanwar Sudee and others are the in this field and provide value references for the government to intro
major research contributors in the field of renewable energy and duce blockchain development and renewable energy trading-related
blockchain. It was discovered that authors who have published regulation policies.
many papers form their own research groups and collaborate
closely with other authors. This suggests that collaboration is 6. Limitations analysis
particularly important to the promotion of blockchain and
renewable energy. From a macro perspective, major countries In this study, only the Web of Science core database was used in the
such as PEOPLES R CHINA, USA, INDIA and ENGLAND are quantitative analysis, and the search terms were only for the subject part
influential countries in this field and have established coopera of the content. Although the process of literature selection was double-
tive relationships with each other. In addition, the research checked and every effort was made to follow the principle of literature
related to renewable energy and blockchain is mainly concen saturation, it is inevitable that there is a certain degree of missing
trated in universities in various countries, which to a certain literature. As a result, some of the relevant literature may not have been
extent indicates that universities and research institutes in included in the search. The findings may be subjective. In the future, the
various countries have more mature research experience and search scope can be expanded or other thesis databases and patent da
research ability in the field of renewable energy and blockchain. tabases can be added. To provide more comprehensive data and theo
(3) The cluster analysis of the co-cited literature reveals the research retical support for research work in the field of “Renewable energy &
themes and the evolution of the field of “Renewable energy & Blockchain,” and to carry out further validation and supplementary
Blockchain.” In this paper, we obtained 8 effective clusters, research.
among which “energy trading” has the highest co-citation fre
quency. The categories of “transactive energy” and “energy Credit author statement
management” have been cited most recently. This indicates that
about the use of energy internet and blockchain core technology Tian-tian Feng: Supervision, Conceptualization, Writing-Reviewing
to achieve comprehensive energy system optimization, improve and Editing.; Ming-li Cui: Writing-Original draft preparation, Concep
energy transaction efficiency, energy saving and emission tualization, Methodology, Software, Revision.; Hao-ran Wang: Investi
reduction, development of circular economy, and promotion of gation, Revision.
clean energy management have been hot topics in recent years. It
is worth noting that authors with a high co-citation frequency Declaration of competing interest
tend to publish more papers, indicating that they have been
working in this field for a long time and that the value of We declare that we have no financial and personal relationships with
continuous research is greater. other people or organizations that can inappropriately influence our
(4) Keyword co-occurrence, burst and evolutionary analysis shows work.
that articles related to the renewable energy and blockchain
fields first started to appear in 2016. As the research progressed, Data availability
an increasing number of key words have appeared, such as “smart
contract”, “management”, “internet”, “system” and “smart grid,” Data will be made available on request.
which indicate that the research in the area of renewable energy
trading and applications is extensive and remains relevant. The Acknowledgements
findings were confirmed by some experts [119].
This paper is supported by the National Natural Science Foundation
In addition, this paper elaborates upon and analyzes the current of China (Grant No. 42171278), the National Natural Science Founda
research status of “Renewable energy & Blockchain” from two per tion of China (Grant No. 71991481 and No. 71991480), the Funda
spectives: the application of blockchain in the field of renewable energy mental Research Funds for the Central Universities (Grant No.
17
2652019083), the Beijing Municipal Social Science Foundation (Grant [23] G. Krishna, R. Singh, A. Gehlot, et al., Digital technology implementation in
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No. 17YJC029), the National Natural Science Foundation of China
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