A Two-Tier Distributed Market Clearing Scheme for Peer-to-Peer Energy Sharing in Smart Grid

Ullah, Habib; Park, Jae-Do

doi:10.1109/tii.2021.3058511

Cited by 31 publications

(23 citation statements)

References 35 publications

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“…others [86][87][88] Applications [34,35,[89][90][91][92][93][94][95], proofs [36,96], algorithms [97][98][99] [32, 50, 100-102] [ 103-105] [ 59, [106][107][108][109][110][111] dual decomposition [112][113][114][115][116], ADMM [117][118][119] classical bill sharing, mid-market rate, and supply-demand ratio algorithms. A two-level reward allocation scheme was developed to deal with the computational complexity of Shapley value under a large number of agents [54].…”

Section: Referencesmentioning

confidence: 99%

“…Based on the dual decomposition algorithm, effective energy sharing mechanisms were developed for microgrids [112], utility companies [113], distribution networks [114] etc. Consensus-based mechanisms not requiring a central coordinator were proposed [115], [116]. By adding a regularisation term to the Lagrangian function, the ADMM algorithm can have better convergence performance than the dual decomposition algorithm.…”

Section: Optimisation Modelsmentioning

confidence: 99%

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Review of energy sharing: Business models, mechanisms, and prospects

Chen

Zhao

2022

IET Renewable Power Gen

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The development of distributed generation technology is endowing consumers the ability to produce energy and transforming them into "prosumers". This transformation shall improve energy efficiency and pave the way to a low-carbon future. However, it also exerts critical challenges on system operations, such as the wasted backups for volatile renewable generation and the difficulty to predict behaviour of prosumers with conflicting interests and privacy concerns. An emerging business model to tackle these challenges is energy sharing, whose concepts, structures, applications, models, and designs are thoroughly reviewed in this paper, with an outlook of future research to better realise its potentials.

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Section: Referencesmentioning

confidence: 99%

Section: Optimisation Modelsmentioning

confidence: 99%

Review of energy sharing: Business models, mechanisms, and prospects

Chen

Zhao

2022

IET Renewable Power Gen

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“…[11] to minimize the storage system's total life-cycle cost in the optimal planning of smart home RERs. Besides the costbased frameworks and models, a novel two-tier peer-to-peer energy exchanging paradigm is presented in [12] to allow multiregional proactive prosumers for energy sharing in both inter-area and intra-area markets. The same study designed the consensus-based and dual decomposition-based distributed market-clearing mechanisms for the optimal energy management of prosumers.…”

Section: B Relevant Literaturementioning

confidence: 99%

Optimal Stochastic Water-Energy Nexus Management for Cooperative Prosumers in Modern Multi-Energy Networks

Daneshvar

Mohammadi‐Ivatloo

Zare

et al. 2022

2022 IEEE International Conference on Environment and Electrical Engineering and 2022 IEEE Industrial and Commercial Power Syst

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Nowadays, significant developments of hybrid energy systems have been led to their widespread presence in the energy network's interactions and have made the interdependent analysis of energy networks essential. In this regard, the inextricable role of the water in the production process of various forms of energy has created a great need for innovative water-energy nexus models in modernizing future multi-vector energy grids. To this end, this paper proposes an innovative water-energy nexus model for optimal energy management of prosumers in the modern energy infrastructure. In the proposed model, each prosumer benefits to wind and PV units for generating clean power, storage units for ensuring continuous power and water supply, power-to-X-to-power technology for linking power and water networks, as well as the water well and water desalination units for serving water demand. Due to the essentiality of uncertainty modeling for gaining confident results in the system engaged with a 100% level of renewables, the stochastic assessment is conducted by generating scenarios using an autoregressive integrated moving average approach as well as reducing the number of scenarios by applying fast forward reduction method. The applicability of the proposed model is examined in the IEEE 6-bus power distribution system. The results highlighted the effectiveness of the offered model in optimally managing the energy of prosumers in the water-energy nexus system.

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“…Their simulation results show that their trading model gives higher benefits to the trading participants than the other existing game models. Ullah et al [147] proposed a two-tier clearing market model in a distributed P2P energy trading of smart grid that improves the economic benefits than conventional single-tier market model. Similarly, Elkazaz et al [148] proposed a decentralized-based and hierarchal P2P energy trading model for the management of energy of smart homes.…”

Section: Blockchain-based Energy Tradingmentioning

confidence: 99%

A Survey on Energy Trading in the Smart Grid: Taxonomy, Research Challenges and Solutions

et al. 2021

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The smart grid is generally studied as an efficient and powerful electric grid. With the assistance of information and communication technology (ICT), the electric grid can increase the performance of the power grid system with smart energy management. On the other hand, with the usage of renewable energy resources (RERs), smart energy storage, and new transmission technologies in the power grid system, various new features such as real-time monitoring, fast restoration, battery displays, automated outage management, etc. have been assimilated into the smart grid. These new features generate more complexity in energy transmission and constitute important challenges like low energy consumption, high energy cost, social welfare, etc. while designing energy trading mechanisms in the smart grid. In the Internet-of-Things (IoT) era, several scenarios such as micro-grids, energy harvesting networks, and vehicle-to-grid (V2G) networks are present where energy trading plays an important role. However, in these scenarios, there are energy transmission and distribution, security and privacy, energy consumption, system reliability, the criticality of data delivery, and a few more challenges caused by distrust, non-transparent, and uncertain energy markets. Motivated from these challenges, we present a four-layered architecture of energy trading used in the smart grid. We propose a comprehensive background regarding the main concepts of energy trading and the implication of enabling technologies that manage the energy imbalances in the smart grid. Then, we present a problem taxonomy based on incentive, mathematical, and simulation modeldriven approaches, which are widely used to control and maintain the energy trading mechanisms. Based on the findings from the literature, we also present a solution taxonomy with enabling technologies such as Energy Internet, Software-defined networking (SDN), and blockchain. In the end, a summary of future research directions based on the energy trading mechanisms is explored to provide deep insights to the readers.

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A Two-Tier Distributed Market Clearing Scheme for Peer-to-Peer Energy Sharing in Smart Grid

Cited by 31 publications

References 35 publications

Review of energy sharing: Business models, mechanisms, and prospects

Review of energy sharing: Business models, mechanisms, and prospects

Optimal Stochastic Water-Energy Nexus Management for Cooperative Prosumers in Modern Multi-Energy Networks

A Survey on Energy Trading in the Smart Grid: Taxonomy, Research Challenges and Solutions

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