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

A System Dynamic Model for Application of Blockchain in the United States Electricity Sector

A thesis presented to the faculty of the College of Business and Technology at Morehead State University in partial fulfillment of the requirements for the Degree Master of Science by Oluwafemi Ezekiel Oyeniran on April 14, 2020

Continuous Transformation and Neo-Carbon Energy Scenarios

This report describes the process and results of Futures Clinique held 22nd May 2015 at Aalto University. At the Futures Clinique − titled Creatively Sustainable Built Environment in Neo-Carbon Energy Worlds − students of Continuous Transformation Course elaborated four tentative scenarios of an on-going Tekes-funded project called Neo-Carbon Energy. The goal of the research project is to explore futures based on renewable energy system. The report begins by describing the method, project, and the theoretical framework. This is followed by the description of the process and results of the Futures Clinique. The nature of change and transformation is also discussed. Working in four groups, the participants focused on a chosen scenario through a multi-staged process. As the report is given to the participants for feedback as well as for further discussion and development, comments on the results are also presented. The conclusive chapter presents observations on transformation and futures learning

Mapping Industry 4.0 Enabling Technologies into United Nations Sustainability Development Goals

The emerging of the fourth industrial revolution, also known as Industry 4.0 (I4.0), from the advancement in several technologies is viewed not only to promote economic growth, but also to enable a greener future. The 2030 Agenda of the United Nations for sustainable development sets out clear goals for the industry to foster the economy, while preserving social well-being and ecological validity. However, the influence of I4.0 technologies on the achievement of the Sustainable Development Goals (SDG) has not been conclusively or systematically investigated. By understanding the link between the I4.0 technologies and the SDGs, researchers can better support policymakers to consider the technological advancement in updating and harmonizing policies and strategies in different sectors (i.e., education, industry, and governmental) with the SDGs. To address this gap, academic experts in this paper have investigated the influence of I4.0 technologies on the sustainability targets identified by the UN. Key I4.0 element technologies have been classified to enable a quantitative mapping with the 17 SDGs. The results indicate that the majority of the I4.0 technologies can contribute positively to achieving the UN agenda. It was also found that the effects of the technologies on individual goals varies between direct and strong, and indirect and weak influences. The main insights and lessons learned from the mapping are provided to support future policy

Blockchain in Energy Communities, A proof of concept

This report aims at exploring the use of the distributed ledger paradigm to incentive the participation of the citizen to a truly free, open and interoperable energy market, producing a feasibility study and a first demo testbed, taking also into consideration privacy, cybersecurity and big-data issues of the smart-home in the Energy market context. This study is intended to support point 4.1, 4.2 and 4.3 of the DSM (COM(2015)192) and point 2.2 of the Energy Union package (COM(2015)80.JRC.E.3-Cyber and Digital Citizens' Securit

Hydrodynamics-Biology Coupling for Algae Culture and Biofuel Production

International audienceBiofuel production from microalgae represents an acute optimization problem for industry. There is a wide range of parameters that must be taken into account in the development of this technology. Here, mathematical modelling has a vital role to play. The potential of microalgae as a source of biofuel and as a technological solution for CO2 fixation is the subject of intense academic and industrial research. Large-scale production of microalgae has potential for biofuel applications owing to the high productivity that can be attained in high-rate raceway ponds. We show, through 3D numerical simulations, that our approach is capable of discriminating between situations where the paddle wheel is rapidly moving water or slowly agitating the process. Moreover, the simulated velocity fields can provide lagrangian trajectories of the algae. The resulting light pattern to which each cell is submitted when travelling from light (surface) to dark (bottom) can then be derived. It will then be reproduced in lab experiments to study photosynthesis under realistic light patterns

Scenarios for the development of smart grids in the UK: literature review

Smart grids are expected to play a central role in any transition to a low-carbon energy future, and much research is currently underway on practically every area of smart grids. However, it is evident that even basic aspects such as theoretical and operational definitions, are yet to be agreed upon and be clearly defined. Some aspects (efficient management of supply, including intermittent supply, two-way communication between the producer and user of electricity, use of IT technology to respond to and manage demand, and ensuring safe and secure electricity distribution) are more commonly accepted than others (such as smart meters) in defining what comprises a smart grid. It is clear that smart grid developments enjoy political and financial support both at UK and EU levels, and from the majority of related industries. The reasons for this vary and include the hope that smart grids will facilitate the achievement of carbon reduction targets, create new employment opportunities, and reduce costs relevant to energy generation (fewer power stations) and distribution (fewer losses and better stability). However, smart grid development depends on additional factors, beyond the energy industry. These relate to issues of public acceptability of relevant technologies and associated risks (e.g. data safety, privacy, cyber security), pricing, competition, and regulation; implying the involvement of a wide range of players such as the industry, regulators and consumers. The above constitute a complex set of variables and actors, and interactions between them. In order to best explore ways of possible deployment of smart grids, the use of scenarios is most adequate, as they can incorporate several parameters and variables into a coherent storyline. Scenarios have been previously used in the context of smart grids, but have traditionally focused on factors such as economic growth or policy evolution. Important additional socio-technical aspects of smart grids emerge from the literature review in this report and therefore need to be incorporated in our scenarios. These can be grouped into four (interlinked) main categories: supply side aspects, demand side aspects, policy and regulation, and technical aspects.

Metaverse: A Vision, Architectural Elements, and Future Directions for Scalable and Realtime Virtual Worlds

With the emergence of Cloud computing, Internet of Things-enabled Human-Computer Interfaces, Generative Artificial Intelligence, and high-accurate Machine and Deep-learning recognition and predictive models, along with the Post Covid-19 proliferation of social networking, and remote communications, the Metaverse gained a lot of popularity. Metaverse has the prospective to extend the physical world using virtual and augmented reality so the users can interact seamlessly with the real and virtual worlds using avatars and holograms. It has the potential to impact people in the way they interact on social media, collaborate in their work, perform marketing and business, teach, learn, and even access personalized healthcare. Several works in the literature examine Metaverse in terms of hardware wearable devices, and virtual reality gaming applications. However, the requirements of realizing the Metaverse in realtime and at a large-scale need yet to be examined for the technology to be usable. To address this limitation, this paper presents the temporal evolution of Metaverse definitions and captures its evolving requirements. Consequently, we provide insights into Metaverse requirements. In addition to enabling technologies, we lay out architectural elements for scalable, reliable, and efficient Metaverse systems, and a classification of existing Metaverse applications along with proposing required future research directions