SEMINAR: Blockchain for Business inside and outside of Residential Microgrids
Residential microgrids are poised to play an important role in future distributed energy networks. Yet, viable business models to run residential microgrids are still a challenge. We will cover the topic of business on residential microgrids from two perspectives: First, Blockchain might be a means to enable energy trade inside a residential microgrid. Blockchain is much more than the technology behind its still most successful application – the Bitcoin. One of its key attributes is the immutable storage of information. Besides other applications, this enables trustful online business between two or more individuals – without the need of an intermediary. The Blockchain is thus said to enable open platforms, facilitating decentral and secure peer to peer trade. It might enable a business layer on residential microgrids. Second, regarding residential microgrids’ connection to the outside main grid, energy retailers have yet to identify effective electricity tariffs to incorporate residential microgrids into the energy value chain. For this reason, we analyzed a set of twelve representative tariff options retailers might offer in the future. To examine their effects on load profiles and electricity bills, we set up a comprehensive empirical evaluation framework. Our analyses identify important recommendations for residential microgrid pricing.
M.Sc. with honors, Fraunhofer Institute
Alexander Rieger completed a Bachelor’s degree in “Management and Technology” at the Technical University of Munich with majors in mechanical engineering as well as financial management and accounting. From 2013 to 2016, he was part of the Elite Graduate Program “Finance and Information Management” (M.Sc. with honors) chaired by the Technical University of Munich and the University of Augsburg. He joined the Erasmus Research Institute of Management in Rotterdam as a visiting scholar in 2015 and the Graduate School of Economic and Social Sciences of the University of Mannheim in 2016. In parallel to his academic endeavors, he did various projects and internships in and outside of Europe, e.g. at Allianz, Pimpco, A.T. Kearney and Siemens. Mr. Rieger joined the Fraunhofer Institute for Applied Information Technology FIT in May 2016 as a student assistant and he became a research assistant in May 2017.
Dr. Gilbert Fridgen
Professor, University of Bayreuth, Fraunhofer Institute, Research Center Finance & Information Management
Gilbert Fridgen is University Professor of Information Systems and Sustainable IT Management at the University of Bayreuth, Deputy Director of the Project Group Business & Information Systems Engineering of the Fraunhofer Institute for Applied Information Technology (FIT), and Deputy Director of the Research Center Finance & Information Management. Furthermore, he is founder and co-director of the Fraunhofer Blockchain Lab. Prior to his position in Bayreuth, he started his academic career at the University of Augsburg. From 2010 to 2013 he pursued his habilitation in Information Systems Engineering. From 2005 to 2010 he did his doctorate on IT risk/return management. From 1999 to 2005 he earned a Diploma of Managerial Economics as well as a Bachelor of Science in Computer Science and Electronic Commerce. In his research, Gilbert Fridgen focusses on three major topics. Since 2015, he analyzes the business potential of the Blockchain technology, builds up the Fraunhofer Blockchain lab, and writes first publications. Beginning with his habilitation he started to build economic models for the smart grid, aiming at advancing the German energy transition. Furthermore, beginning with his doctorate, he furthermore addresses topics of IT transformation, i.e. the long-term evolution of large IT systems that are prone to a high complexity and therefore high risk. According to the most common and most relevant ranking for German Business Schools (JOURQUAL3), he regularly publishes papers in category A journals and conference proceedings. Gilbert Fridgen was granted 7-digit research funds from European, German and State programs. Furthermore, he acquired 7-digit funds for applied research projects in collaboration with organizations such as Audi, Fujitsu, Hilti, McKinsey, Nord/LB, or the German Federal Office for Migration and Refugees.