Peer-to-peer energy trading in smart grid: Frameworks, implementation methodologies, and demonstration projects

Suthar, Sachinkumar; Cherukuri, S. Hari Charan; Pindoriya, Naran M.

doi:10.1016/j.epsr.2022.108907

Cited by 49 publications

(23 citation statements)

References 84 publications

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“…This makes them well-suited for studying energy management in smart buildings, which often involve a large number of devices and sensors distributed across a building or campus. Distributed algorithms and peer-to-peer (P2P) mechanisms in energy trading can provide several advantages, including decentralization of energy trading, improved security, increased transparency, reduced transaction costs, enhanced flexibility and resilience, and enabled the prosumers to produce electricity using renewable energy sources [26][27][28] . However, there are many challenges using distributed algorithms and peer-to-peer mechanisms, such as complexity in design and implementation, inadequate response, vulnerability to security threats, lack of control, and some nodes may have more resources or influence than others, leading to inequality and potential issues with fairness [26][27][28][29][30] .…”

Section: Problem Statementmentioning

confidence: 99%

“…Distributed algorithms and peer-to-peer (P2P) mechanisms in energy trading can provide several advantages, including decentralization of energy trading, improved security, increased transparency, reduced transaction costs, enhanced flexibility and resilience, and enabled the prosumers to produce electricity using renewable energy sources [26][27][28] . However, there are many challenges using distributed algorithms and peer-to-peer mechanisms, such as complexity in design and implementation, inadequate response, vulnerability to security threats, lack of control, and some nodes may have more resources or influence than others, leading to inequality and potential issues with fairness [26][27][28][29][30] . The fog server or a fog computing device is located at the network's edge, closer to the devices or sensors that generate data.…”

Section: Problem Statementmentioning

confidence: 99%

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Energy management system in smart buildings based coalition game theory with fog platform and smart meter infrastructure

Saeed

Eladl

Alhasnawi³

et al. 2023

Sci Rep

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This paper proposes a central energy management system (EMS) in smart buildings. It is based on the coalition method for optimal energy sharing between smart buildings. Game theory is applied to obtain an optimal allocation of the building's surplus energy on the deficient energy buildings using the Shapley value, which enables the unequal energy distribution based on the energy demand. The main objective is reducing energy waste while preserving the generation/demand balance. The fog platform with memory storage is applied, which handles all the measured data from the smart buildings through Wi-Fi-based communication protocol and performs the EMS program. The smart meter links the smart buildings with the fog-based EMS central unit. Two scenarios are implemented based on the difference between total deficient and surplus energy. Coalition game theory is applied for optimal surplus energy allocation on deficient buildings when the total energy surplus is lower than the total energy deficient. Also, there is a one-to-one relationship between the surplus and deficient building; if the surplus energy is larger than the deficit, the extra surplus energy is stored for further usage. The proposed EMS is applied and tested using a smart city with 10 buildings in the MATLAB program. A comparison between the result obtained with and without applying the proposed method is performed. The performance of the fog platform is introduced based on the run and delay time and the memory size usage. The results show the effectiveness of the proposed EMS in a smart building.

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Section: Problem Statementmentioning

confidence: 99%

Section: Problem Statementmentioning

confidence: 99%

Energy management system in smart buildings based coalition game theory with fog platform and smart meter infrastructure

Saeed

Eladl

Alhasnawi³

et al. 2023

Sci Rep

View full text Add to dashboard Cite

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“…The main purpose of renewable energy community is to provide environmental, economic or social community benefits for its members or for the local areas rather than financial benefits (Carlisle et al, 2008;Soeiro & Dias, 2020).…”

Section: Zhu Et Almentioning

confidence: 99%

Local energy systems development in India and United Kingdom: A comprehensive review of latest developments and way forward

Deb,

Sachan,

Malik

et al. 2023

WIREs Energy & Environment

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Energy systems across the world are becoming localized, decarbonized, and digitalized. This is the era of local energy system integrating heat, power, and transport. Local energy system refers to arrangements that operate locally at a scale less than the traditional centralized model to maximize social, economic, environmental benefits for people or organization in a specific geographical area. Beyond decarbonization, local energy systems are expected to provide a wide range of other benefits such as alleviating fuel poverty, community income generation. The increase in the deployment of local energy systems has been the subject of intensive research and development in recent era. This article aims to review the recent local energy system developments in India and United Kingdom. Specifically, this will focus on local energy system taxonomy, landscape, challenges, pilot projects, policies, energy storage technologies in India and United Kingdom. Further, this work will also discuss how local energy system can be used for electrification of rural India. Thus, this work will put forward the latest developments of local energy system in a developed and developing country. This work will conclude by presenting the way forward for local energy system adoption and development in India and United Kingdom. It is expected that this work will help power and energy system researchers to track down the recent developments and landscape, and lessons of local energy system.This article is categorized under: Sustainable Energy > Other Renewables Climate and Environment > Net Zero Planning and Decarbonization Energy and Power Systems > Energy Infrastructure

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“…Overall, blockchain-based P2P trading platforms have different functions, including data securing, tracking, formulation, and energy trading, to show participants 'benefits. In blockchain, participants are given access to trading output to cross-verify transactions in a trustworthy way [30]. Recently, different blockchain-based P2P trading concepts have been designed.…”

Section: Introductionmentioning

confidence: 99%

Application of a Community Battery-Integrated Microgrid in a Blockchain-Based Local Energy Market Accommodating P2P Trading

Ali¹,

Azim²,

Peters³

et al. 2023

IEEE Access

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This paper presents the application of a community battery energy storage system (CBESS)integrated microgrid (MG) in a blockchain-enabled local energy market (LEM). The proposed LEM balances the community energy requirement while facilitating frequent peer-to-peer (P2P) energy transactions between several energy users in the presence of both energy supplier and energy operator. The architecture is formulated by taking a number of local market and network constraints, that include residential battery energy storage system (RBESS) constraints; CBESS constraints; P2P traded price constraints; P2P traded power constraints; margin constraints of the stakeholders; power grid export and import constraints; and network energy balance constraints, so as to not only incentivise energy users but also reduce import/export from/to power grid while keeping the margins of energy supplier and energy operator unaffected. Different types of transactions data including energy users' P2P pricing bids and P2P traded energy volume are also stored in the blockchain database. Further, the developed LEM framework is also validated through a case study executed on an actual Australian power grid network, comprising 260 residential energy users; two energy suppliers; an energy operator; and a CBESS, and the performance of the proposed P2P trading-based LEM strategy is compared with the existing business-as-usual (BAU) that directs energy users to buy/sell energy at the time-of-use (ToU)/ feed-in-tariff (FiT) rate. The extensive and comparative simulation results confirm the superior performance of the proposed LEM mechanism in terms of minimising energy users' electricity bill; lowering power grid import and export; and retaining margins of energy suppliers and the energy operator; and thus, emphasise its application suitability in the current electricity market.INDEX TERMS Blockchain, community battery, energy supplier, local energy market, energy operator, peer-to-peer energy trading, power grid.

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Peer-to-peer energy trading in smart grid: Frameworks, implementation methodologies, and demonstration projects

Cited by 49 publications

References 84 publications

Energy management system in smart buildings based coalition game theory with fog platform and smart meter infrastructure

Energy management system in smart buildings based coalition game theory with fog platform and smart meter infrastructure

Local energy systems development in India and United Kingdom: A comprehensive review of latest developments and way forward

Application of a Community Battery-Integrated Microgrid in a Blockchain-Based Local Energy Market Accommodating P2P Trading

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