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Journal ArticleDOI

Review of Existing Peer-to-Peer Energy Trading Projects

01 May 2017-Energy Procedia (Elsevier)-Vol. 105, pp 2563-2568
TL;DR: In this paper, the authors compared the similarities and differences of the P2P energy trading trails in different regions of the world and showed that although many of the trails focus on the business models acting similarly to a supplier's role in the electricity sector, it is also necessary to design the necessary communication and control networks that could enable P2PCE energy trading in or among local microgrids.
About: This article is published in Energy Procedia.The article was published on 2017-05-01 and is currently open access. It has received 345 citations till now. The article focuses on the topics: Renewable energy & Business model.
Citations
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Journal ArticleDOI
TL;DR: An overview of these new P2P electricity markets that starts with the motivation, challenges, market designs moving to the potential future developments in this field is contributed, providing recommendations while considering a test-case.
Abstract: The advent of more proactive consumers, the so-called “prosumers”, with production and storage capabilities, is empowering the consumers and bringing new opportunities and challenges to the operation of power systems in a market environment. Recently, a novel proposal for the design and operation of electricity markets has emerged: these so-called peer-to-peer (P2P) electricity markets conceptually allow the prosumers to directly share their electrical energy and investment. Such P2P markets rely on a consumer-centric and bottom-up perspective by giving the opportunity to consumers to freely choose the way they buy their electric energy. A community can also be formed by prosumers who want to collaborate, or in terms of operational energy management. This paper contributes with an overview of these new P2P markets that starts with the motivation, challenges, market designs moving to the potential future developments in this field, providing recommendations while considering a test-case.

592 citations


Cites background from "Review of Existing Peer-to-Peer Ene..."

  • ...In recent years, a number of R&D projects have been carried out with twofold purposes, as discussed in [43]: (i) working on the market design and business models for P2P markets; (ii) implementing local control and ICT platforms for prosumers and microgrids....

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Journal ArticleDOI
TL;DR: Simulation results show the convergence of the algorithms and the effectiveness of the proposed model to handle P2P energy trading, and it is emerging as an alternative to cost-intensive energy storage systems.
Abstract: This paper proposes a novel game-theoretic model for peer-to-peer (P2P) energy trading among the prosumers in a community. The buyers can adjust the energy consumption behavior based on the price and quantity of the energy offered by the sellers. There exist two separate competitions during the trading process: 1) price competition among the sellers; and 2) seller selection competition among the buyers. The price competition among the sellers is modeled as a noncooperative game. The evolutionary game theory is used to model the dynamics of the buyers for selecting sellers. Moreover, an M-leader and N-follower Stackelberg game approach is used to model the interaction between buyers and sellers. Two iterative algorithms are proposed for the implementation of the games such that an equilibrium state exists in each of the games. The proposed method is applied to a small community microgrid with photo-voltaic and energy storage systems. Simulation results show the convergence of the algorithms and the effectiveness of the proposed model to handle P2P energy trading. The results also show that P2P energy trading provides significant financial and technical benefits to the community, and it is emerging as an alternative to cost-intensive energy storage systems.

465 citations


Cites background from "Review of Existing Peer-to-Peer Ene..."

  • ...P2P energy trading is flexible between peers, where excess energy from various small-scale DERs is traded locally [6]....

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Journal ArticleDOI
TL;DR: This article provides an overview of the key features of peer-to-peer trading and its benefits of relevance to the grid and prosumers, and systematically classify the existing research in terms of the challenges that the studies address in the virtual and the physical layers.
Abstract: Peer-to-peer trading is a next-generation energy management technique that economically benefits proactive consumers (prosumers) transacting their energy as goods and services. At the same time, peer-to-peer energy trading is also expected to help the grid by reducing peak demand, lowering reserve requirements, and curtailing network loss. However, large-scale deployment of peer-to-peer trading in electricity networks poses a number of challenges in modeling transactions in both the virtual and physical layers of the network. As such, this article provides a comprehensive review of the state-of-the-art in research on peer-to-peer energy trading techniques. By doing so, we provide an overview of the key features of peer-to-peer trading and its benefits of relevance to the grid and prosumers. Then, we systematically classify the existing research in terms of the challenges that the studies address in the virtual and the physical layers. We then further identify and discuss those technical approaches that have been extensively used to address the challenges in peer-to-peer transactions. Finally, the paper is concluded with potential future research directions.

443 citations


Cites background from "Review of Existing Peer-to-Peer Ene..."

  • ...For example, in [16], the authors provide an overview of various P2P projects that are currently being implemented in different parts of the world....

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Journal ArticleDOI
TL;DR: In this article, the authors investigate the contribution of batteries located at the customer level versus a central battery shared by the community in a small community in London, United Kingdom, and investigate the combined features of trade and flexibility from storage produce savings of up to 31% for the end-users.

303 citations

Journal ArticleDOI
TL;DR: This survey provides a comprehensive review of emerging blockchain-based healthcare technologies and related applications and shows the potential of blockchain technology in revolutionizing healthcare industry.
Abstract: One of the most important discoveries and creative developments that is playing a vital role in the professional world today is blockchain technology. Blockchain technology moves in the direction of persistent revolution and change. It is a chain of blocks that covers information and maintains trust between individuals no matter how far they are. In the last couple of years, the upsurge in blockchain technology has obliged scholars and specialists to scrutinize new ways to apply blockchain technology with a wide range of domains. The dramatic increase in blockchain technology has provided many new application opportunities, including healthcare applications. This survey provides a comprehensive review of emerging blockchain-based healthcare technologies and related applications. In this inquiry, we call attention to the open research matters in this fast-growing field, explaining them in some details. We also show the potential of blockchain technology in revolutionizing healthcare industry.

294 citations

References
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Journal ArticleDOI
TL;DR: Test results show that P2P energy trading is able to balance local generation and demand, therefore, has a potential to enable a large penetration of RESs in the power grid.

164 citations

Proceedings ArticleDOI
20 Oct 2014
TL;DR: Simulation results show that the proposed energy trading can increase the utilization of renewable energy, and reduce costs of energy purchase and energy storage.
Abstract: A method of autonomous cooperative energy trading is proposed for prosumers in microgrid systems with renewable energy generation, storage and prosumer-to-prosumer energy exchange. The trading is based on policies and protocols for sharing and matching of energy schedules, including repayment of energy. Prosumer to Prosumer (P2P) trading mode and Proxy trading mode are described. Simulation results show that the proposed energy trading can increase the utilization of renewable energy, and reduce costs of energy purchase and energy storage.

81 citations


"Review of Existing Peer-to-Peer Ene..." refers background in this paper

  • ...[1] Generation of DERs is unpredictable and intermittent, and prosumers...

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Proceedings ArticleDOI
26 Jun 2012
TL;DR: An interactive demonstration as it was presented to a wide audience at the CeBIT 2012 fair which took place in Hanover, Germany and will especially focus on the learning of profiles and based on this the forecast of energy consumption and production.
Abstract: An increasing number of private households are becoming producers of renewable energy. From an economic perspective it is beneficial to utilize this energy both locally and promptly. This does require the ability to be able to deal with local excess production at short notice using, for example, an electronic trading platform. The objective of "PeerEnergyCloud" is to research and develop cloud-based technologies for such a trading platform. In this paper we describe an interactive demonstration as it was presented to a wide audience at the CeBIT 2012 fair which took place in Hanover, Germany. The demonstration shows a future energy scenario demonstrating techniques which are necessary as a basis for a civil marketplace for trading renewable energies. We will especially focus on the learning of profiles and based on this the forecast of energy consumption and production. Visitors could indicate individual sensors and available data, switch on and off appliances and hence influence the given user profile and experience the changes on the forecast and in the agent system's behavior. Like the visitors of the CeBIT conference attendees will be able to experience in an interactive demonstration techniques which are necessary as a basis for a civil marketplace for trading renewable energies.

36 citations