Peer-to-peer energy trading among smart homes

Alam, Muhammad Raisul; St-Hilaire, Marc; Kunz, Thomas

doi:10.1016/j.apenergy.2019.01.091

Cited by 207 publications

(99 citation statements)

References 27 publications

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“…[19] proposes a methodology based on sensitivity analysis to assess the impact of P2P transactions on the network and to guarantee an exchange of energy that does not violate network constraints. A similar kind of P2P energy trading between smart homes is proposed in [30]. The second type of studies, on the other hand, focus on incentivizing prosumers for coordinated scheduling of flexible loads and energy storage.…”

Section: Intra-microgrid P2p Energy Tradingmentioning

confidence: 99%

A Motivational Game-Theoretic Approach for Peer-to-Peer Energy Trading in the Smart Grid

Tushar

Saha

Yuen

et al. 2020

Preprint

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Section: Intra-microgrid P2p Energy Tradingmentioning

confidence: 99%

A Motivational Game-Theoretic Approach for Peer-to-Peer Energy Trading in the Smart Grid

Tushar

Saha

Yuen

et al. 2020

Preprint

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“…network constraints. A similar kind of P2P energy trading between smart homes is proposed in [30]. The second type of studies, on the other hand, focus on incentivizing prosumers for coordinated scheduling of flexible loads and energy storage.…”

Section: General Focus Of the Studymentioning

confidence: 99%

A motivational game-theoretic approach for peer-to-peer energy trading in the smart grid

et al. 2019

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Peer-to-peer trading in energy networks is expected to be exclusively conducted by the prosumers of the network with negligible influence from the grid. This raises the critical question: how can enough prosumers be encouraged to participate in peer-to-peer trading so as to make its operation sustainable and beneficial to the overall electricity network? To this end, this paper proposes how a motivational psychology framework can be used effectively to design peer-to-peer energy trading to increase user participation. To do so, first, the state-of-the-art of peer-to-peer energy trading literature is discussed by following a systematic classification, and gaps in existing studies are identified. Second, a motivation psychology framework is introduced, which consists of a number of motivational models that a prosumer needs to satisfy before being convinced to participate in energy trading. Third, a game-theoretic peer-to-peer energy trading scheme is developed, its relevant properties are studied, and it is shown that the coalition among different prosumers is a stable coalition. Fourth, through numerical case studies, it is shown that the proposed model can reduce carbon emissions by 18.38% and 9.82% in a single day in Summer and Winter respectively compared to a feed-in-tariff scheme. The proposed scheme is also shown to reduce the cost of energy up to 118 ¢ and 87 ¢ per day in Summer and Winter respectively. Finally, how the outcomes of the scheme satisfy all the motivational psychology models is discussed, which subsequently shows its potential to attract users to participate in energy trading.

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“…Blockchain has been explored for several applications in the energy sector as mentioned in the previous section. It has been discussed extensively in the context of P2P energy trading and there are a number of articles available describing this idea [13][14][15][16][17], as well as a number of early product offerings [10,[18][19][20]. However, our literature review found that blockchain is still just a concept in terms of its application to energy efficiency which is yet to be fully explored.…”

Section: A Review On Blockchain In Energy Efficiencymentioning

confidence: 99%

Blockchain in Energy Efficiency: Potential Applications and Benefits

et al. 2019

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Blockchain technology is ready to disrupt nearly every industry and business model, and the energy sector is no exception. Energy businesses across the world have already started exploring the use of blockchain technology in large-scale energy trading systems, peer-to-peer energy trading, project financing, supply chain tracking, and asset management among other applications. Information and Communication Technologies (ICTs) recently started revolutionizing the energy landscape, and now blockchain technology is providing an additional opportunity to make the energy system more intelligent, efficient, transparent, and secure in the longer term. The idea of this paper is to examine more closely the use of blockchain technology for its possible application in the energy efficiency industry and to determine how it could make energy efficiency markets more secure and transparent in the longer term. This paper examines in detail the key benefits and implications of using blockchain in the energy efficiency sector through the presentation and discussion of two case studies as possible blockchain applications—(i) the UK Energy Company Obligation scheme and (ii) the Italian White Certificate Scheme. We have presented how the key issues around trading energy efficiency savings—correctly estimating the savings, data transparency among stakeholders, and inefficient administrative processes—can be solved through the application of a blockchain-based smart contract system. Finally, this paper presents an implementation of a smart contract for trading of energy-saving certificates achieved via execution of smart contract transactions on the Ethereum blockchain.

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Peer-to-peer energy trading among smart homes

Cited by 207 publications

References 27 publications

A Motivational Game-Theoretic Approach for Peer-to-Peer Energy Trading in the Smart Grid

A Motivational Game-Theoretic Approach for Peer-to-Peer Energy Trading in the Smart Grid

A motivational game-theoretic approach for peer-to-peer energy trading in the smart grid

Blockchain in Energy Efficiency: Potential Applications and Benefits

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