Mihaylov, M. E., Jurado, S., Avellana, N., Van Moffaert, K., Magrans De Abril, I., & Nowe, A. (2014). NRGcoin: Virtual currency for trading of renewable energy in smart grids. In 11th International Conference on the European Energy Market (pp. 58-63). IEEE. https://doi.org/10.1109/EEM.2014.6861213

@inproceedings{c03bb6c3dd454efabcc3337adc8b66cb,
title = "NRGcoin: Virtual currency for trading of renewable energy in smart grids",
abstract = "In this paper we introduce a new decentralized digital currency, called NRGcoin. Prosumers in the smart grid trade locally produced renewable energy using NRGcoins, the value of which is determined on an open currency exchange market. Similar to Bitcoins, this currency offers numerous advantages over fiat currency, but unlike Bitcoins it is generated by injecting energy into the grid, rather than spending energy on computational power. In addition, we propose a novel trading paradigm for buying and selling green energy in the smart grid. Our mechanism achieves demand response by providing incentives to prosumers to balance their production and consumption out of their own self-interest. We study the advantages of our proposed currency over traditional money and environmental instruments, and explore its benefits for all parties in the smart grid.",
author = "Mihaylov, {Mihail Emilov} and Sergio Jurado and Narcis Avellana and {Van Moffaert}, Kristof and {Magrans De Abril}, Ildefon and Ann Nowe",
year = "2014",
doi = "10.1109/EEM.2014.6861213",
language = "English",
isbn = "978-1-4799-6096-5",
pages = "58--63",
booktitle = "11th International Conference on the European Energy Market",
publisher = "IEEE",
note = "International Conference on the European Energy Market ; Conference date: 28-05-2014",
}