A peer-to-peer energy trading market embedded with residential shared energy storage units

Liu

2022 Asia Conference on Electrical, Power and Computer Engineering (EPCE 2022)

et al. 2022

Self Cite

With the development of distributed renewable energy, the power system is gradually becoming a high penetration of renewable energy system. The integration of distributed renewable energy has brought uncertainty to the power system, and the pressure of peak shaving of renewable energy system is increasing rapidly. For the distribution network, shared energy storage(SES) can support the peak shaving needs of distributed renewable energy system, and improve the security and economy of power grid. In this paper, a peer-to-peer transactive network model in distribution network is proposed, which includes renewable generators and communities with SES. A market equilibrium solution based on KKT condition and big-M method is proposed. The simulation results show that renewable generators can benefit from participating in the peerto-peer transactive network, and communities can benefit from SES.

Section: Mathematical Formulationmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Peer-to-Peer Transactive Network with Shared Energy Storage in Distribution Network

Liu

2022 Asia Conference on Electrical, Power and Computer Engineering (EPCE 2022)

et al. 2022

Self Cite

“…Although there are few studies specifically on this topic, the balance of energy production and consumption within an aggregator or among multiple aggregators can provide some examples. Game dynamics are considered in [26], while equilibrium is obtained inside one P2P trading network. By using a leading energy sharing node, the equilibrium of the demand response of DERs is achieved under a leader-follower game [27].…”

Section: B Related Workmentioning

confidence: 99%

Selection Game for Consensus-Based Decentralized Aggregators of Distributed Energy Resources in a Blockchain Ecosystem

Bao

et al. 2022

IEEE Access

Aggregators can be effective in organizing distributed energy resources (DERs) for electricity markets and power systems. The recent development of blockchain and peer-to-peer (P2P) networks provides a new ecosystem for aggregating DERs. Initial studies have mainly used off-the-shelf consensuses, which may struggle to balance node sizes and computational intensities. Moreover, the dynamics of DERs changing their selection among multiple aggregators over time are rarely considered in most related literature. This freedom of selection, which is encouraged by the electricity market, can be better activated by a blockchain. In this study, a game-dynamic-based selection framework for multiple aggregators of DERs is proposed in a decentralized blockchain ecosystem. First, a proof-of-dual-credibility (Po2C) protocol is established so that DERs in such an aggregator can reach consensus. At the same time, for one DER node, both an unavoidable objective credit and a malicious subjective credit constitute its credibility with different weights. Then, a function with triple payoffs motivates DERs in terms of both the physical characteristics of being power supply devices and P2P nodes, the latter including consensus winning and data propagation. Third, the selection game of DERs among aggregators is modeled as an evolutionary game under replicator dynamics to find equilibrium. Numerical simulations with two and four aggregators show general stability in the selection game of DERs. Performance achieved with different consensuses and incentives are compared as well. The framework shows its great potential to organize DERs in a decentralized but aggregated mechanism in open electricity markets.INDEX TERMS aggregation, consensus protocol, distributed generator, equilibrium, game dynamics, peerto-peer network

“…Using a mixed integer linear programming (MILP) model, an aggregator or a third party energy management service provider selects the allocation scheme based on the characteristics and number of households, energy storage system capacity, the impact on the costs, storage utilization, and fairness to the community. MILP can be used to develop P2P energy trading models using an aggregator with auction mechanism in [19], [20] and with a decentralized approach [21], [22]. A rolling-horizon decision-making strategy was developed to maximize the revenue of stakeholders [23].…”

Section: Introductionmentioning

confidence: 99%

“…A rolling-horizon decision-making strategy was developed to maximize the revenue of stakeholders [23]. In all the above-mentioned works [14]- [16], [19]- [23], optimization is used to solve the formulated problems.…”

Section: Introductionmentioning

confidence: 99%

Peer-to-Peer Sharing of Energy Storage Systems Under Net Metering and Time-of-Use Pricing

Babu

Chakraborty

2023

IEEE Access

Sharing economy has become a socio-economic trend in the transportation and housing sectors. It develops business models leveraging underutilized resources. Like those sectors, power grid is also becoming smarter with many flexible resources, and researchers are investigating the impact of sharing resources here as well that can help to reduce cost and extract value. In this work, we investigate sharing of energy storage devices among individual households in a cooperative fashion. Coalitional game theory is used to model the scenario where the utility company imposes time-of-use (ToU) price and net metering (NM) billing mechanism. The resulting game has a non-empty core and we can develop a cost allocation mechanism with easy to compute analytical formula. Allocation is fair and cost-effective for every household. We design the price for the peer-to-peer (P2P) network and an algorithm for sharing that keeps the grand coalition always stable. Thus sharing electricity of storage devices among consumers can be effective in this set-up. Our mechanism is implemented in a community of 80 households in Texas using real data of load demand and solar irradiance and the results show significant cost savings for our method.