Metaverse‐based decentralised autonomous organisation in energy systems

Abstract

Abstract Developing renewable energy generation‐rich power systems could contribute to achieving carbon neutrality. To ensure the secure and economic operation of power systems with high penetration of renewable energy, it is necessary to solve the problem of inefficient utilisation of demand‐side resources by the current electricity market mechanism. The metaverse, an emerging technology attracting widespread attention, is expected to efficiently solve this problem. The metaverse can be regarded as a virtual‐real interactive economic system built on advanced technologies such as blockchain, artificial intelligence, extended reality, avatars, and decentralised autonomous organisations (DAO). This paper first briefly introduces the concept, architecture, technologies, and features of the metaverse. Then, a metaverse‐based DAO for energy systems is proposed and the corresponding business model is explored. The Energy DAO utilises algorithms and user consensus combined with smart contracts to solidify organisational operation rules. In this way, it organises users to directly participate in multiple types of electricity markets and carbon markets, as well as behavioural data production and transactions. Finally, an Energy DAO example for demand‐side sources demonstrates how the Energy DAO could solve the problems of information asymmetry, information opacity, and incentive incompatibility in electricity market mechanisms.

Keywords

• artificial intelligence applications
• business model
• decentralised autonomous organisation (DAO)
• demand side resource
• energy economics
• energy efficiency