Recent market developments are driven by a combination of uncertainty and barriers to transactive energy deployment
BOULDER, Colo.--(BUSINESS WIRE)--#Blockchain--A new report from Navigant Research tracks blockchain vendor market entries and exits, funding, investments, and project deployments in the energy industry.
Since 2015, startups, utilities, and technology companies have financed and deployed demonstration and pilot projects to determine whether blockchain can address pain points across the energy industry. As the technology slowly matures, the narrative that blockchain will fundamentally disrupt the energy system is giving way to a more pragmatic vision in which blockchain’s primary role is to make existing processes more efficient. Click to tweet: @NavigantRSRCH’s inaugural Blockchain Vendor and Deployment Tracker identifies 236 vendors, 254 projects, and nearly $700 million in cumulative funding invested into energy blockchain development across five global regions.
“Key findings from our analysis highlight the shift in focus away from transactive energy (TE) and peer-to-peer electricity trading toward pragmatic use cases with shorter maturity horizons and proven business models,” says Johnathon de Villier, research analyst with Navigant Research. “In particular, recent project deployments have focused on renewable energy certificates and guarantees of origin.”
According to the report, recent market developments are driven in part by market barriers to TE deployment despite continued interest from both vendors and potential customers. The shift in focus away from TE is likely also influenced by changes in funding patterns for blockchain vendors. Where poorly regulated, crowdsourced initial coin offerings (ICOs) were an important early source of vendor capital, more traditional capital investments from public and private sources now account for the majority of energy blockchain funding.
The report, Energy Blockchain Vendor and Deployment Tracker 3Q19, tracks blockchain vendor and project developments in the energy industry. It follows data from vendors and projects across five geographic regions and six market segments: supply chain, generation, wholesale, distribution, retail, and behind the meter. Where available, the report provides specific information on project partners and funding, project size, use cases, company status, and other data points. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant – A Guidehouse company, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Energy Blockchain Vendor and Deployment Tracker 3Q19, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant – A Guidehouse company undertakes any obligation to update any of the information contained in this press release or the report.
Contacts
Lindsay Funicello-Paul
+1.781.270.8456
lindsay.funicello.paul@navigant.com