Peer-to-peer decentralized energy trading framework for retailers and prosumers

Mehdinejad, Mehdi; Shayanfar, Heidar Ali; Mohammadi‐Ivatloo, Behnam

doi:10.1016/j.apenergy.2021.118310

Cited by 74 publications

(13 citation statements)

References 27 publications

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“…The power grid usage charge is included in the P2P trading model in [38] to help the distribution utility maintain the financial part of the network. The authors in [39] also acknowledge the importance of the presence of energy retailers in practical LEMs. For this reason, the role of an energy retailer is justified by the authors in [40].…”

Section: B Literature Review Limitations and Motivationsmentioning

confidence: 99%

Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities

Ali¹,

Azim²,

Peters³

et al. 2022

IEEE Access

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This paper presents a collated case study on local energy market (LEM) in Australia, in which energy users take part frequently in peer-to-peer (P2P) energy trading among themselves considering the agile presence of energy retailers and distribution utilities. To do so, first, an overview is provided in regard to LEM architecture, trading model with energy retailers, and the blockchain structure. Then, a new P2P trading mechanism is proposed in the LEM that enables both energy users, i.e., sellers and buyers, to reap financial benefits compared to the existing business-as-usual (BAU) model -where local power is exported and imported via feed-in-tariff (FiT) and time-of-use (ToU) rates. The proposed LEM framework also exploits residential battery energy storage systems (RBESSs); and the community battery energy storage systems (CBESSs) to balance local supply and demand appropriately and contributes towards lowering exports/imports from/to power grids by means of bilateral P2P transactions while the inclusion of responsible energy retailers are assured. Moreover, the margins of both energy retailers and distribution utilities are kept unchanged or increased to some extent by the proposed trading model to incorporate them in the LEM framework effectively. Finally, diverse case studies are provided to validate the proposed LEM mechanism with various studied models and demonstrate the superior performance in contrast with the present-day BAU model.INDEX TERMS Blockchain, community battery, distribution utility, energy retailer, local energy market, peer-to-peer energy trading, smart contracts.

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Section: B Literature Review Limitations and Motivationsmentioning

confidence: 99%

Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities

Ali¹,

Azim²,

Peters³

et al. 2022

IEEE Access

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“…However, distributed resources and prosumers are also essential drivers (Helms, 2016). As technology advances, the utilization of renewable energy, storage devices, and demand management resources is increasing, and energy consumers are also being included in the subjects who utilize the distributed resources, transforming energy consumers into energy prosumers (Brown et al, 2021; Mehdinejad et al, 2022). The as‐a‐service model is developing to better use distributed resources by consumers and prosumers (Chávez et al, 2021; Helms, 2016).…”

Section: Changes and Future Challenges Related To The Spread Of As‐a‐...mentioning

confidence: 99%

Expansion of servitization in the energy sector and its implications

Park

2022

WIREs Energy & Environment

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The business model of as‐a‐service is rapidly spreading in the energy industry. This study aims to examine how servitization in the energy sector is progressing, what sectors are in the spotlight, and what their implications are. By understanding the servitization aspect of the energy sector, it is possible to gauge the direction of change in the energy industry. This study has reviewed various as‐a‐service types in the energy sector through new articles analytics. For a total of 6 years from 2015 to 2020, news articles containing keywords related to the energy industry and the term “as a service” were extracted from Google News using the R package. As a result, well‐known as‐a‐service models such as software‐as‐a‐service and platform‐as‐a‐service are being emphasized in the energy sector. Also, new types of services such as zero‐carbon‐as‐a‐service and resilience‐as‐a‐service have been emerging recently. With the spread of as‐a‐service, the value chain structure of the energy industry is expected to shift towards various types of services and platforms. Servitization, represented by as‐a‐service, is becoming a trend in the energy industry, and policy and regulatory support to foster the data industry and expand opportunities to demonstrate innovative technologies and services is required. This article is categorized under: Policy and Economics > Governance and Regulation Policy and Economics > Research and Development

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“…Among these capacities, we can mention Microgrids (MGs) [7]. MGs have the necessary technical and communication infrastructures to support the network under normal conditions [8,9] and the occurrence of a contingency [10]. In a network with multiple MGs, connecting MGs creates resilient areas with larger dimensions [11].…”

Section: Introductionmentioning

confidence: 99%

A novel cooperative decentralized framework based on peer‐to‐peer energy transactions in networked microgrids to improve the resilience

Doostizadeh

Jalili

Abkar

2023

IET Renewable Power Gen

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Severe events such as floods, earthquakes, and hurricanes cause disruption in the distribution networks and cause them to be islanded. In such circumstances, microgrids can be separated from the main grid with the help of their technical and communication infrastructure and transfer energy with each other to reduce their operation and outage costs. Therefore, energy management in a networked microgrid requires a modern operating framework to cause microgrids to supply each other with the energy they need. So, in this paper, a cooperative framework to improve the resilience response of microgrids has been proposed based on peer-to-peer energy transactions. In the developed model, since the microgrids are operated in a cooperative and networked manner, they sell energy to each other at the lowest possible cost. Utilizing the developed model, microgrids can improve their resilience response by peer-to-peer energy transactions in addition to reduce their operating costs, compared to the independent and non-cooperative models. To evaluate the efficiency of the proposed method, simulations have performed on a system with 14 microgrids, and the obtained results have compared and analysed. The results obtained have shown the efficiency of the proposed method in increasing resilience and reducing operating costs.

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Peer-to-peer decentralized energy trading framework for retailers and prosumers

Cited by 74 publications

References 27 publications

Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities

Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities

Expansion of servitization in the energy sector and its implications

A novel cooperative decentralized framework based on peer‐to‐peer energy transactions in networked microgrids to improve the resilience

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