12,251 research outputs found
Transforming Energy Networks via Peer to Peer Energy Trading: Potential of Game Theoretic Approaches
Peer-to-peer (P2P) energy trading has emerged as a next-generation energy
management mechanism for the smart grid that enables each prosumer of the
network to participate in energy trading with one another and the grid. This
poses a significant challenge in terms of modeling the decision-making process
of each participant with conflicting interest and motivating prosumers to
participate in energy trading and to cooperate, if necessary, for achieving
different energy management goals. Therefore, such decision-making process
needs to be built on solid mathematical and signal processing tools that can
ensure an efficient operation of the smart grid. This paper provides an
overview of the use of game theoretic approaches for P2P energy trading as a
feasible and effective means of energy management. As such, we discuss various
games and auction theoretic approaches by following a systematic classification
to provide information on the importance of game theory for smart energy
research. Then, the paper focuses on the P2P energy trading describing its key
features and giving an introduction to an existing P2P testbed. Further, the
paper zooms into the detail of some specific game and auction theoretic models
that have recently been used in P2P energy trading and discusses some important
finding of these schemes.Comment: 38 pages, single column, double spac
Smart Microgrids: Overview and Outlook
The idea of changing our energy system from a hierarchical design into a set
of nearly independent microgrids becomes feasible with the availability of
small renewable energy generators. The smart microgrid concept comes with
several challenges in research and engineering targeting load balancing,
pricing, consumer integration and home automation. In this paper we first
provide an overview on these challenges and present approaches that target the
problems identified. While there exist promising algorithms for the particular
field, we see a missing integration which specifically targets smart
microgrids. Therefore, we propose an architecture that integrates the presented
approaches and defines interfaces between the identified components such as
generators, storage, smart and \dq{dumb} devices.Comment: presented at the GI Informatik 2012, Braunschweig Germany, Smart Grid
Worksho
A Game-Theoretic Approach to Energy Trading in the Smart Grid
Electric storage units constitute a key element in the emerging smart grid
system. In this paper, the interactions and energy trading decisions of a
number of geographically distributed storage units are studied using a novel
framework based on game theory. In particular, a noncooperative game is
formulated between storage units, such as PHEVs, or an array of batteries that
are trading their stored energy. Here, each storage unit's owner can decide on
the maximum amount of energy to sell in a local market so as to maximize a
utility that reflects the tradeoff between the revenues from energy trading and
the accompanying costs. Then in this energy exchange market between the storage
units and the smart grid elements, the price at which energy is traded is
determined via an auction mechanism. The game is shown to admit at least one
Nash equilibrium and a novel proposed algorithm that is guaranteed to reach
such an equilibrium point is proposed. Simulation results show that the
proposed approach yields significant performance improvements, in terms of the
average utility per storage unit, reaching up to 130.2% compared to a
conventional greedy approach.Comment: 11 pages, 11 figures, journa
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