Automated Negotiation for Peer-to-Peer Trading of Renewable Energy in Off-Grid Communities

Etukudor, Christie; Robu, Valentin; Couraud, Benoit; Kocher, G.; Früh, Wolf‐Gerrit; Flynn, David; Okereke, Chinonso

doi:10.1109/powerafrica.2019.8928640

Cited by 7 publications

(9 citation statements)

References 20 publications

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“…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],…”

Section: B Model Horizonsmentioning

confidence: 99%

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

Wang

Verzijlbergh

Heijnen

et al. 2020

2020 IEEE PES Innovative Smart Grid Technologies Europe (ISGT-Europe)

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Section: B Model Horizonsmentioning

confidence: 99%

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

Wang

Verzijlbergh

Heijnen

et al. 2020

2020 IEEE PES Innovative Smart Grid Technologies Europe (ISGT-Europe)

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“…The AI community has begun investigating some of these challenges. For example, in recent joint work with Covenant University of Nigeria, our group has investigated how automated agents and agent-mediated electronic negotiation (such as searching for Pareto-optimal deals with incomplete information) can be used to best automated P2P micro energy transactions [19], building on the results of a previous study by Alam et al [18]. Recent work in the group of Professor Abhyankar at IIT Delhi [21] has proposed use of Shapley values (a coalitional game theory technique) for for loss allocation in meshed distribution networks, while Norbu & Bandyopadhyay [22], working at the Royal University of Bhutan, have investigated how pinch point analysis can be used to determine the optimal sizing of renewable generation in isolated distribution systems.…”

Section: Developing Country Gridsmentioning

confidence: 99%

Consider ethical and social challenges in smart grid research

et al. 2019

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Artificial Intelligence and Machine Learning are increasingly seen as key technologies for building more decentralised and resilient energy grids, but researchers must consider the ethical and social implications of their use Energy grids are undergoing rapid changes, requiring new ways both to process the large amounts of data generated from the power system, but also -increasingly -to take smart operational decisions [1].On the data side, the UK and most EU countries have committed to a target of offering a smart meter to every home by 2020 [2], with similar monitoring being installed in other parts of the energy network. This has led to some to refer to a "data tsunami", requiring development of new machine learning techniques to deal with the ensuing challenge of extracting useful information from this data -often in real time.Another trend is the use of AI techniques (such as those from multi-agent systems, computational game theory and decision making under uncertainty) to take autonomous allocation and control decisions. This is driven increasingly by the moves towards more decentralised energy systems, where prosumers (consumers with own micro-generation and storage) can generate and source their own electricity through peer-to-peer (P2P) trading in local energy markets and community energy schemes.To illustrate these trends from a UK perspective (with which the authors are most familiar), a number of projects are looking at computational techniques suitable for more decentralised energy future -including CESI (the UK National Centre for Energy Systems Integration) [23] and Responsive Flexibility, one of the largest smart energy demonstrators in the UK, focused on the islands of Orkney [26]. In fact, Community Energy Scotland (an organisation supporting such projects in Scotland) lists no less than 300 projects on their website [3]. This has attracted a surge of interest and considerable investments in technologies enabling these settings, such as blockchain, machine learning (ML) and distributed Artificial Intelligence (AI) [4].Yet, there are substantial ethical and social questions to be asked in such developments. The AI community has begun to recognise the challenges posed by rapid adoption of AI in the real world, and a number of general guidelines have been proposed [5]. Similarly, the smart grid community needs to consider the ethical challenges that the rapid adoption of AI and ML techniques to control our energy systems brings. In this piece, we discuss some domainspecific challenges and proposed solutions for adopting AI techniques to automate smart energy grids. We note our starting point is not purely generic AI ethical principles (although we have consulted recent reports, such as Floridi [5], which provide a useful guide). Rather, we consider the trends that have shaped AI adoption in smart grids in recent years, and illustrate the type of ethical challenges involved in each.

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“…S UB-Saharan Africa's electricity sector experiences Herculean challenges. It presently has the lowest installed electricity generation capacity per region across the globe, which is apparent in its slow pace of industrialization and economic growth [1]- [6]. To put the gravity of the region's electricity hurdles into context, a single European nation -Italy (130 gw) -has more installed electricity generation capacity than the whole of Sub-Saharan Africa (120 gw).…”

Section: Introductionmentioning

confidence: 99%

“…Electricity access is relatively high in Interests disclosure: The Authors hold cryptographic assets. the south but overall, the pace of electrification is currently insufficient in the region [1]- [6]. Although the region's electricity sector has seen a surge in investment in the last decade, this has been inadequate to meet the exponentially growing demand.…”

Section: Introductionmentioning

confidence: 99%

Towards a Blockchain Special Purpose Vehicle for Financing Independent Renewable Electricity Projects in Sub-Saharan Africa

Alao¹,

Cuffe²

2020

Preprint

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Sub-Saharan Africa requires affordable, reliable, and sustainable electricity to boost its economic, social, and human development. The main challenge posed to the region's electricity sector is the large investment gap needed to finance new power projects. The employment of new and innovative financing options is required to bridge this investment gap. Independent power projects have become one of the fastest-growing sources of new finance in the region. However, their development is constrained by the limited availability of debt finance for project implementation. The limited capital and bureaucratic burden of traditional financial institutions coupled with the high risks in the region ensures that the debt finance required by independent power projects is raised only after an arduous voyage and at high interest rates. We address these challenges by proposing a novel decentralized finance instrument, a blockchain special purpose vehicle that streamlines the processes in the financial layer of a traditional special purpose vehicle -- finance mobilization, revenue collection, and revenue disbursal. Specifically, the proposed decentralized finance instrument facilitates the mobilization of finance for the special purpose vehicle from a location-independent crowd, revenue collection from the electricity offtaker in a risk-mitigated manner, and disbursal of eventual project revenues to investors.

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Automated Negotiation for Peer-to-Peer Trading of Renewable Energy in Off-Grid Communities

Cited by 7 publications

References 20 publications

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

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

Consider ethical and social challenges in smart grid research

Towards a Blockchain Special Purpose Vehicle for Financing Independent Renewable Electricity Projects in Sub-Saharan Africa

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