Peer-to-Peer Energy Trading

Morstyn, Thomas; McCulloch, Malcolm

doi:10.1007/978-3-030-35032-1_16

Cited by 9 publications

(13 citation statements)

References 54 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The potential is promising due to diverse generation and demand patterns [2]. With smart meters, energy management systems, and communication and control technologies, even the smallest assets can profit from the integration into the energy markets [3]. The challenge at hand is to transform a system formerly relying on large centralized power plants-whose economies of scale are increasingly challenged with grid parity of RES [4]-to a system based on distributed renewable energy sources.…”

Section: Introductionmentioning

confidence: 99%

“…The challenge at hand is to transform a system formerly relying on large centralized power plants-whose economies of scale are increasingly challenged with grid parity of RES [4]-to a system based on distributed renewable energy sources. Existing market arrangements, however, are not quite up for the task; system design and tariff incentive structures still vastly assume limited flexibility and passive price-taking consumers [3]. Lower and diminishing tariff-based incentives will increase the pressure for alternative revenue streams [4,5].…”

Section: Introductionmentioning

confidence: 99%

“…For these new consumers, energy is not a homogeneous product but a diverse set of energy classes [3] (e.g., based on geographical vicinity, preferred energy sources by time, or preference for only trading with close friends and family). The necessary communication, automation, and price negotiation is provided by peer-to-peer (P2P) and other market platforms.…”

Section: Introductionmentioning

confidence: 99%

“…Oftentimes, however, they are predominantly self-centered cost-optimizers. For a system-supporting operation-potentially matching supply and demand locally [5]-further design and regulation efforts are needed [3]. A diverse set of viable business models has been identified [3] and pilot projects are already underway (see overviews in [2,6]).…”

Section: Introductionmentioning

confidence: 99%

“…For a system-supporting operation-potentially matching supply and demand locally [5]-further design and regulation efforts are needed [3]. A diverse set of viable business models has been identified [3] and pilot projects are already underway (see overviews in [2,6]). Most of these setups include some kind of intermediary [4] to operate the P2P market, exercise the rights, but also perform the duties of an electric utility company (e.g., handling trade, billing, balancing, or other administrative obligations).…”

Section: Introductionmentioning

confidence: 99%

See 4 more Smart Citations

An Optimal Peer-to-Peer Market Considering Modulating Heat Pumps and Photovoltaic Systems under the German Levy Regime

Langer

2020

Energies

View full text Add to dashboard Cite

The European Commission calls for more small-scale renewable energy producers to actively participate in the energy value chain. In this study, we model an illustrative peer-to-peer (P2P) market with tariffs based on the reservation prices of market participants under the German levy regime. The study is conducted by modeling representative residential buildings with home energy management systems, modulating heat pumps, and photovoltaics, in combination with electrical and thermal storage systems. The resulting mixed-integer linear program is solved over the course of a year, using a rolling horizon approach with a time resolution of one hour. By analyzing the cost- and discomfort-minimizing behavior of the market participants, we evaluate the current levy regime and propose two additional designs. We find that in the current case, a P2P market is not economically viable. Based on feed-in tariffs (FiT) and levies no agreeable market price can be found. With no FiT or reduced levies, all participants benefit from the P2P market. The market split—where each household sources their energy from—is altered only little by the specific details of the market design when staying in the agreeable price range. As prosumagers do not consume on the P2P market, they benefit only marginally from the reduced levies—consumers are most affected. Adjusting the regime could be a measure to rebalance the distribution of renewable energy benefits towards consumers in order to foster social cohesion. Our input data and the model written in the Julia JuMP programming language are available in an open-source format.

show abstract

Section: Introductionmentioning

confidence: 99%