3,941 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
Scenarios for the development of smart grids in the UK: synthesis report
‘Smart grid’ is a catch-all term for the smart options that could transform the ways society produces, delivers and consumes energy, and potentially the way we conceive of these services. Delivering energy more intelligently will be fundamental to decarbonising the UK electricity system at least possible cost, while maintaining security and reliability of supply.
Smarter energy delivery is expected to allow the integration of more low carbon technologies and to be much more cost effective than traditional methods, as well as contributing to economic growth by opening up new business and innovation opportunities. Innovating new options for energy system management could lead to cost savings of up to £10bn, even if low carbon technologies do not emerge. This saving will be much higher if UK renewable energy targets are achieved.
Building on extensive expert feedback and input, this report describes four smart grid scenarios which consider how the UK’s electricity system might develop to 2050. The scenarios outline how political decisions, as well as those made in regulation, finance, technology, consumer and social behaviour, market design or response, might affect the decisions of other actors and limit or allow the availability of future options. The project aims to explore the degree of uncertainty around the current direction of the electricity system and the complex interactions of a whole host of factors that may lead to any one of a wide range of outcomes. Our addition to this discussion will help decision makers to understand the implications of possible actions and better plan for the future, whilst recognising that it may take any one of a number of forms
Regulatory strategies for selected Member States (Denmark, Germany, Netherlands, Spain, the UK):IMPROGRES project
Research Project supported by the European Commission, Directorate-General for Energy and Transport, under the Energy Intelligent Europe (EIE) programmeThis Work Package 6 report of the IMPROGRES project provides an overview of regulatory strategies and incentives, conducive to (i) network integration of increasing levels of distributed generation including notably intermittent renewable technology such as wind power and solar photovoltaics (PV) as well as (ii) options for reducing impacts on surging network integration costs. Similar to the IMPROGRES project in general, this report focuses on European distribution networks. It includes specific country studies of Denmark, Germany, the Netherlands, Spain and the UK. This summary presents the main findings of this report
Peer-to-Peer EnergyTrade: A Distributed Private Energy Trading Platform
Blockchain is increasingly being used as a distributed, anonymous, trustless
framework for energy trading in smart grids. However, most of the existing
solutions suffer from reliance on Trusted Third Parties (TTP), lack of privacy,
and traffic and processing overheads. In our previous work, we have proposed a
Secure Private Blockchain-based framework (SPB) for energy trading to address
the aforementioned challenges. In this paper, we present a proof-on-concept
implementation of SPB on the Ethereum private network to demonstrates SPB's
applicability for energy trading. We benchmark SPB's performance against the
relevant state-of-the-art. The implementation results demonstrate that SPB
incurs lower overheads and monetary cost for end users to trade energy compared
to existing solutions
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