Enhancing Demand-Side Management and Electricity Efficiency through Blockchain Technology

Blockchain technology presents significant advancements in demand-side management (DSM) by facilitating decentralized, transparent, and secure transactions within energy systems. This study investigates a novel blockchain-based approach aimed at enhancing electricity efficiency through optimized DSM strategies. We propose an innovative framework that integrates blockchain technology with real-time data analytics to optimize energy consumption, encourage consumer participation, and promote efficient energy utilization. Our experimental analysis reveals that the integration of blockchain enhances DSM by achieving a 25% reduction in electricity costs for consumers, a 30% increase in demand response participation rate, and a 15% improvement in overall grid stability compared to traditional DSM approaches. These findings underscore the effectiveness of our proposed method, showcasing its originality and potential for future energy management solutions.