A Power P2P Market Framework to Boost Renewable Energy Exchanges in Local Microgrids

Australian Renewable-Energy Microgrids: a Humble Past, a Turbulent Present, a Propitious Future

“…They noted that (1) social and cultural differences among households have a substantial impact on self-sufficiency; (2) high cumulative energy demand is more effective than high self-sufficiency in exploiting the shared renewable resource; and (3) different selling prices generate various business opportunities. [34] extol the benefits of matching generation with demand through a P2P trading model, findings supported by [35] and [36], the latter utilising a hierarchical P2P trading network. In a similar vein, [37] used three different business models and representative market paradigms -bill sharing, mid-market rate and an auction-based pricing strategy -to validate the effectiveness of the proposed P2P trading mechanisms and identified the benefits.…”

Merit Evaluation of Peer‐to‐Peer Electricity Trading Between Prosumers

“…buy−u−max (8) 0 ≤ P (n,m,t) buy−p ≤ P (n,m,t) buy−p−max (9) 0 ≤ P (n,t) sell−u ≤ P (t) sell−u−max (10) 0 ≤ P (n,m,t) sell−p ≤ P (n,m,t) sell−p−max (11) 0 ≤ P (n,t) cha ≤ P (n,t) cha−max (12) 0 ≤ P (n,t) dch ≤ P (n,t) dch−max (13) Above, P (n,t) dch and P (n,t) cha represent the electricity discharged and charged in the storage batteries (considering the storage batteries are at the DC end of the storage battery power conditioning system [PCS]) [kW], P (n,t) dem and P (n,t) PV represent the electricity demand and the PV power generation amount [kW], respectively, u (n,t) dch is a binary variable indicating the state of charge of the storage batteries (where 1 is discharged and 0 is charged), η bt represents the charge/discharge efficiency of the storage battery (including the PCS conversion loss and the charge/discharge loss of the storage battery itself), E (n,t) represents the charging power of the storage battery [kWh], and E (n) represents the capacity of the storage battery of prosumer n.…”

“…[8], a multi-level energy system was proposed for conducting P2P transactions. There have also been several studies on building frameworks using blockchain technology and smart contracts to conduct P2P transactions [9][10][11][12]. There are several research institutions worldwide, including in Japan, conducting verification tests on P2P transactions [13][14][15][16][17][18].…”

Modeling the decentralized energy investment and operation in the prosumer era: a systematic review

“…2) Operation: 84% of the review papers focus on the operational aspects of the prosumer markets, where the investment Model horizons Investment 7 [12]- [14], [17], [19], [26], [41] Operation 38 [7], [15], [16], [18], [20]- [25], [27]- [40], [42]- [55] Operation: trading mechanisms Cost-sharing mechanisms 10 [21], [27], [29], [33], [36], [37], [42], [47], [52], [55] Auction-based mechanisms 12 [7], [17], [18], [20], [22], [24], [25], [31], [34], [43], [45], [53] Bilateral contracts 19 [15], [16], [23], [25], [28]- [30], [32], [35], [36], [38]- [40],…”