Blockchain in Power Market Size - By Category (Private, Public), By Application (Grid Transactions, Peer to Peer Transactions, Energy Financing, Sustainability Attribution, Electric Vehicle Charging), & Forecast, 2025 - 2034

Blockchain in Power Market Size

The global blockchain in power market was valued at USD 2.1 billion in 2024 and is estimated to grow at a CAGR of 41.5% from 2025 to 2034. Increasing need for transparency in the power sector by securely recording all transactions, such as power generation and distribution will influence the technology adoption.
 

Rising demand for peer-to-peer (P2P) energy trading between power producers and consumers will accelerate the technology penetration to reduce reliance on intermediaries, enabling cost savings and creating a decentralized energy marketplace. In March 2021, Tata Power-DDL and the Government of NCT of Delhi launched a blockchain-based P2P energy trading project. The initiative utilizes Power Ledger’s technology to enable solar PV electricity trading among multiple consumers within North Delhi, covering over 2 MW of capacity.
 

Growing adoption of advanced technology to automate the execution of PPAs through smart contracts, reducing administrative burdens and eliminating disputes will foster the business outlook. Rising adoption of decentralized grids, particularly microgrids, will complement technology penetration to manage localized power generation and distribution. Furthermore, the technology also enables efficient tracking of electricity flows, real-time billing, and integration of renewable sources within microgrid systems, propelling the business landscape.
 

Rising consumer focus on reducing electricity costs will lead to a boost in technology adoption. Blockchain minimizes the need for third-party intermediaries in wholesale electricity trading, reducing costs and enhancing efficiency, leading to business growth. As per PwC study suggests that blockchain could lower transaction fees in energy trading by 30%-50%, making it attractive for large-scale adoption.
 

Blockchain in Power Market Trends

• Rising risk of fraud such as energy theft or tampering with records and increasing need for transparency in the power sector will fuel the technology adoption to securely record all transactions in a decentralized ledger. As per the stay save energy report, energy theft remains a significant issue, with estimates suggesting that up to 250,000 cases go undetected annually. It is believed that energy theft occurs in approximately 1 in every 150 homes each year. Additionally, a recent survey revealed that 43% of electricians and gas engineers have encountered requests from customers to manipulate their meters.
   
• Increasing technology advancements such as automation of billing processes to minimize errors and accelerate the payment cycle, benefiting utilities and consumers alike, will complement the industry growth. Additionally, energy companies generate vast amounts of data, but security concerns limit its accessibility, leading to blockchain demand that secure, decentralized data sharing, fostering collaboration between utilities, regulators, and consumers.
   
• Growing government encouragement in investing in decentralized energy projects will foster the business growth. The technology enables the tokenization of energy assets, allowing individuals to invest in solar or wind farms with fractional ownership. This democratization of energy investment is increasing renewable energy adoption globally leading to propel the growth prospects. For instance, in January 2024, Karnataka is set to implement peer-to-peer solar energy trading using blockchain. Eligible participants must have rooftop solar projects with net or gross metering, and system capacities ranging from 1 kW to 2 MW.
   
• Growing popularity of renewable energy certificates and carbon credits will complement the technology adoption, helping in reducing administrative costs and ensuring authenticity. Furthermore, companies can also verify their green energy claims efficiently, promoting sustainability initiatives leading to influence the business trend.
   

Blockchain in Power Market Analysis

• The blockchain in power industry was valued at USD 1.3 billion, USD 1.7 billion and USD 2.1 billion in 2022, 2023 and 2024 respectively. The industry is segmented into grid transactions, peer to peer transactions, energy financing, sustainability attribution, electric vehicle charging and others based on application.
   
• The peer to peer transactions is projected to surpass USD 21 billion by 2034. Rising demand for cost-effective technologies to reduce dependence on traditional utility companies by allowing transactions directly between parties will augment the industry statistics in P2P transactions. Furthermore, the technology also eliminates the need for intermediaries, lowering transaction costs, and simplifying billing processes.
   
• Increasing investments by key players in developing advanced technology to boost the technology adoption in peer to peer trading will bolster the business prospects. For instance, in August 2023, at Western University in Canada, researchers unveiled a pioneering open-source blockchain utility tailored for P2P solar trading. Leveraging smart contracts, their system showcased potential savings nearing USD 1,600 across 10 homes in simulated scenarios. The team aims to collaborate with innovative electric utilities to expand distributed solar generation and enhance grid resilience.
   
• The grid transaction segment is set to grow at a CAGR of over 40.2% till 2034 on account of its decentralized and tamper-proof ledger, ensuring secure and transparent transactions in power grids. Furthermore, traditional energy transactions involve complex billing systems and high administrative costs. This improves blockchain demand, which can automate contract execution through smart contracts, cutting operational expenses and improving cost efficiency in power exchanges, leading to industry expansion.
   
• The electric vehicle charging segment is expected to be valued at more than USD 8.6 billion by 2034. Rising cyberattacks and fraud in EV charging transactions will contribute to the business trend. Cyberattacks on automotive and smart mobile products increased by 39% in 2024 compared to the previous year, with a significant rise attributed to security weaknesses in EV charging infrastructure. These statistics will foster blockchain demand, ensuring tamper-proof authentication, securing user identities, charging records, and payments.
   
• The sustainability attribution segment is expected to grow at a CAGR of around 42% through 2034. Rising enforcement of stricter sustainability reporting requirements by governments and regulatory bodies will enhance the business statistics. The technology allows companies to accurately trace and verify their energy sources, helping them meet their sustainability targets and claim RECs with confidence.
   
• The energy financing segment is set to grow at a CAGR of over 42% till 2034. Growing demand for solutions that can reduce financing costs by eliminating intermediaries and reducing transaction fees and administrative costs associated with securing funding for energy projects will influence the technology penetration. For instance, the Sun Exchange operates a blockchain-driven solar financing platform enabling global crowdfunding for solar power projects. Investors purchase tokens to gain part-ownership of these projects. To date, the platform has installed 3,800 kW of capacity, with 1,200 kW under development in Africa.
   

• Based on category, the blockchain in power market is segmented into public and private. The public segment is set to grow at a CAGR of over 42% till 2034. Increasing demand for transparency in energy transactions, particularly beneficial for public-sector entities responsible for managing power resources will stimulate the technology adoption.
   
• Government-backed blockchain adoption is enhancing grid efficiency through strategic funding and regulatory initiatives. In October 2023, the U.S. DOE allocated USD 3.5 billion for 58 grid projects under the GRIP Program. This included a USD 50 million grant to National Grid for grid efficiency in New York and Massachusetts. Advanced tech, such as blockchain, supports real-time energy management.  This funding is part of the 2021 Bipartisan Infrastructure Law, aimed at strengthening the nation’s energy infrastructure.
   
• The private sector is anticipated to be valued at USD 32.3 billion by 2034. Increasing private energy companies focus on smart contracts to automate energy trading, billing, and settlements will uplift the technology penetration. This reduces administrative costs and enhances transaction speed, particularly in wholesale electricity markets and P2P energy trading. Additionally, growing demand for technology to enable real-time monitoring and verification of energy consumption, allowing power companies to optimize grid performance and implement demand-response programs will bolster the business trend.
   

• North America holds 15.8% of the market share in 2024, which is expected to improve further by 2034. The U.S. blockchain in power market was valued at USD 160 million, 200 million, and 260 million in 2022, 2023 and 2024, respectively.
   
• Rising promotions of innovative technologies by government and regulatory bodies to modernize the power sector will uplift blockchain adoption. Growing adoption of blockchain for P2P energy trading in the U.S., especially in states with significant solar power capacity such as California and Hawaii will improve the business scenario.
   
• Asia Pacific is expected to be worth USD 8.7 billion by 2034 on account of rapid adoption of renewable energy, particularly solar and wind power, will drive the need for more efficient energy management systems, driving the technology penetration. The growing infrastructure renewal activities in economy superpowers such as India and China, aimed at accommodating a more dispersed and renewable energy framework, will further strengthen the technological advancements. In December 2023, Ant Digital Technologies and GCL Energy Technology launched the first blockchain Real-World Asset project in China. The project included the tokenization of solar assets of two power plants with a total capacity of 82MW, thus raising USD 27.4 million.
   
• Europe blockchain in power market is expected to grow at a CAGR of 40% till 2034.  The rising focus towards fraud prevention will support blockchain adoption that prevents double-counting of green energy credits, ensuring reliability in renewable energy claims leading to business growth. This is critical for corporations meeting ESG commitments. Additionally, growing investments by EU Blockchain Observatory and private firms in blockchain-based energy pilots will improve the industry projections.
   

Blockchain in Power Market Share

• The top three players, IBM, Infosys Limited and LO3 Energy, share a market position of 31.2% in the blockchain in power segment. Eminent players in the power sector are increasingly partnering with technology providers, industry peers, and public institutions to harness expertise and expedite the adoption of blockchain technology. These collaborations are aimed at creating value-driven solutions tailored to specific applications, such as supply chain management, energy trading platforms, and emissions tracking.
   
• Moreover, many leading firms are investing in innovation hubs or supporting startups focused on developing blockchain applications that cater to their operational needs. These initiatives help accelerate the implementation of blockchain solutions while fostering an ecosystem of continuous innovation.
   
• Developers and entrepreneurs are focusing on building scalable and secure decentralized applications (dApps) with efficient smart contracts while exploring emerging technologies such as Layer 2 scaling and zero-knowledge proofs. Furthermore, companies are engaging in open-source projects, hackathons, and blockchain communities such as Ethereum and Solana, which can further strengthen their presence.
   

Blockchain in Power Market Companies

• IBM recorded revenue for the year that ended 2024 at USD 62.7 billion and approximated EBITDA of USD 15.5 billion reported January 2025 with USD 6.9 billion for R&D investments as a statement of its innovative efforts. The company is actively integrating blockchain technology into the energy sector to enhance efficiency, transparency, and sustainability. One significant initiative involves tokenizing renewable energy certificates (RECs) to streamline their trading.
   
• In 2023, SAP’s operating profit reached USD 7.5 billion, with revenues at USD 34.5 billion. R&D, roughly 15% of revenue, fuels cloud, AI, and blockchain advancements, boosting data accuracy and security for the energy sector. The firm is currently incorporating the blockchain into the energy industry with the aim of improving transparency, efficiency, and sustainability. One notable initiative is the GreenToken project, which utilizes blockchain to create a digital twin of raw materials, enabling companies to gain transparency in material sourcing and access ESG data across their supply chains.
   

Eminent players operating in the blockchain in power market are:

• ACCIONA
• ConsenSys
• Electron
• Greeneum
• IBM
• Infosys Limited
• LO3 Energy
• Power Ledger
• SAP
• SunContract
   

Blockchain in Power Industry News:

• In January 2024, The Karnataka Electricity Regulatory Commission released a new draft policy geared toward enabling blockchain mediated peer-to-peer solar energy trading. This allows electricity consumers to become “prosumers” by installing rooftop solar panels and directly trading excess electricity with each other.
   
• In March 2021, GCL Energy Technology Co., a key player in clean energy, and Ant Digital Technologies, known for its expertise in digital and blockchain solutions, have reached a major milestone. They successfully conducted China's first Real World Asset Tokenization (RWA) issuance in the photovoltaic sector, securing USD 27.5 million in cross-border financing.
   

This blockchain in power market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in “USD Billion” from 2021 to 2034, for the following segments:

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Market, By Category

• Public
• Private

Market, By Application

• Grid transactions
• Peer to peer transactions
• Energy financing
• Sustainability attribution
• Electric vehicle charging
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Netherlands
  • France
  • Spain
• Asia Pacific
  • China
  • Japan
  • Singapore
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Chile