A Comparative Analysis of Pricing Mechanisms to Enable P2P Energy Sharing of Rooftop Solar Energy

Hadiya, Nilesh; Teotia, Falti; Bhakar, Rohit; Mathuria, Parul; Datta, Arindam

doi:10.1109/powercon48463.2020.9230562

Cited by 6 publications

(4 citation statements)

References 8 publications

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“…Here, C c2c n,h will consist only of the penalty charged based on the distance between the VCs. There will be no effect on the actual cost of importing/exporting power because of (21,22). Thus, τ (z, q) = arg min q∈(γ b ,γc)…”

Section: ) C2c Energy Exchangementioning

confidence: 99%

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A Scalable and Computational Efficient Peer-to-Peer Energy Management Scheme

et al. 2023

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Peer-to-peer (P2P) trading is essential in maximising the benefits of renewable integration. The paper proposes a novel framework for economic benefit through P2P trading among buildings at different geographical locations. The number of transactions is reduced by grouping the buildings into virtual communities (VCs) based on their geographical locations. A non-cooperative game is formulated and solved in a decentralised manner for the energy management of individual buildings, building-tobuilding (B2B) energy exchange, building-to-community (B2C) energy exchange, energy management of the respective VC, and community-to-community (C2C) energy exchange. Load shifting is used to incorporate demand-side management. Cloud computing-based proposed algorithm is used for determining the energy profile and prices for each internal transaction (B2B, B2C, and C2C) separately to encourage the participation of each building by benefiting them appropriately and avoiding privacy/security issues normally arising in any data-centric framework. A shareable battery energy storage system (BESS) is also assumed to be present in each VC. Load shifting is used in the modelling of buildings to incorporate demandside management.INDEX TERMS BESS, Decentralised optimisation, Demand response, Generalised Nash Equilibrium, Peer-to-Peer energy sharing Nomenclature n,i,j,h Power imported by building i from building i and the respective payment P b2c n,i,h ,π b2c n,i,h Power imported by building i from its VC n and the respective payment P c2c n,m,h ,π c2c n,m,h Power imported by VC n from VC m and the respective payment P ch n,h ,P dis n,h Charging/discharging power of battery P b n,i,h ,P s n,i,h Power import/export from/to utility P ls n,i,h ,L n,i,h Shifted load and Actual load respectively P max n,i ,P min n,i Power exchange limit of building i from VC n P chmax n ,P chmin n Maximum/minimum limit for charging power of the battery of VC n P dismax n ,P dismin n Maximum/minimum limit for discharging

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Section: ) C2c Energy Exchangementioning

confidence: 99%

“…A dynamic pricing mechanism based on the modified SDR method is used in [20] with the help of a compensating factor for encouraging energy sharing. For incentive distribution, a mid-market rate (MMR) method was proposed in [21]. Based on the surplus power available to the prosumers, the trading price can be set using the MMR method [22].…”

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confidence: 99%

A Scalable and Computational Efficient Peer-to-Peer Energy Management Scheme

et al. 2023

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“…A method was proposed to evaluate the performance of three different trading mechanisms of P2P: MMR, SDR, and bill sharing (BS) in [60], which concludes that the SDR mechanism outweighed the other two mechanisms in terms of performance under moderate level of PV penetration, and the performance of BS is like the traditional model. Hadiya et al [64] discussed three pricing mechanisms: MMR, BS, and SDR, versus coalition game-theory-based model. All of which were compared on different indicators of the performance of an institution in India.…”

Section: Market Clearing Approachesmentioning

confidence: 99%

“…Based on the coalition game theory, the authors of [43] improve the mid-market rate (MMR) price model and introduce the weight variables. In [64], three pricing mechanisms MMR, BS, and SDR, are discussed and compared with the coalition game theory-based model.…”

Section: Cooperative Game Theorymentioning

confidence: 99%

Business Model of Peer-to-Peer Energy Trading: A Review of Literature

et al. 2022

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Peer-to-peer (P2P) energy trading is a promising energy trading mechanism due to the deployment of distributed energy resources in recent years. Trading energy between prosumers and consumers in the local energy market is undergoing massive research and development, paying significant attention to the business model of the energy market. In this paper, an extensive review was conducted on the current research in P2P energy trading to understand the business layer of the energy market concerning business model dimensions: bidding strategies and the market-clearing approach. Different types of game theoretical-based and auction-based market-clearing mechanisms are investigated, including a detailed classification of auctions. This study considers the possibility of employing the P2P technique in developing countries and reviewing existing business models and trading policies. The business layer of the P2P structure plays a vital role in developing an effective trading mechanism based on interactive energy markets.

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