2,677 research outputs found
Peer-to-peer and community-based markets: A comprehensive review
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 are to source 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
Lightweight Blockchain Framework for Location-aware Peer-to-Peer Energy Trading
Peer-to-Peer (P2P) energy trading can facilitate integration of a large
number of small-scale producers and consumers into energy markets.
Decentralized management of these new market participants is challenging in
terms of market settlement, participant reputation and consideration of grid
constraints. This paper proposes a blockchain-enabled framework for P2P energy
trading among producer and consumer agents in a smart grid. A fully
decentralized market settlement mechanism is designed, which does not rely on a
centralized entity to settle the market and encourages producers and consumers
to negotiate on energy trading with their nearby agents truthfully. To this
end, the electrical distance of agents is considered in the pricing mechanism
to encourage agents to trade with their neighboring agents. In addition, a
reputation factor is considered for each agent, reflecting its past performance
in delivering the committed energy. Before starting the negotiation, agents
select their trading partners based on their preferences over the reputation
and proximity of the trading partners. An Anonymous Proof of Location (A-PoL)
algorithm is proposed that allows agents to prove their location without
revealing their real identity. The practicality of the proposed framework is
illustrated through several case studies, and its security and privacy are
analyzed in detail
Consensus-based approach to peer-to-peer electricity markets with product differentiation
With the sustained deployment of distributed generation capacities and the
more proactive role of consumers, power systems and their operation are
drifting away from a conventional top-down hierarchical structure. Electricity
market structures, however, have not yet embraced that evolution. Respecting
the high-dimensional, distributed and dynamic nature of modern power systems
would translate to designing peer-to-peer markets or, at least, to using such
an underlying decentralized structure to enable a bottom-up approach to future
electricity markets. A peer-to-peer market structure based on a Multi-Bilateral
Economic Dispatch (MBED) formulation is introduced, allowing for
multi-bilateral trading with product differentiation, for instance based on
consumer preferences. A Relaxed Consensus+Innovation (RCI) approach is
described to solve the MBED in fully decentralized manner. A set of realistic
case studies and their analysis allow us showing that such peer-to-peer market
structures can effectively yield market outcomes that are different from
centralized market structures and optimal in terms of respecting consumers
preferences while maximizing social welfare. Additionally, the RCI solving
approach allows for a fully decentralized market clearing which converges with
a negligible optimality gap, with a limited amount of information being shared.Comment: Accepted for publication in IEEE Transactions on Power System
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