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

Mixed-integer-linear-programming-based energy management system for hybrid PV-wind-battery microgrids: Modeling, design, and experimental verification

© 2017 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other worksMicrogrids are energy systems that aggregate distributed energy resources, loads, and power electronics devices in a stable and balanced way. They rely on energy management systems to schedule optimally the distributed energy resources. Conventionally, many scheduling problems have been solved by using complex algorithms that, even so, do not consider the operation of the distributed energy resources. This paper presents the modeling and design of a modular energy management system and its integration to a grid-connected battery-based microgrid. The scheduling model is a power generation-side strategy, defined as a general mixed-integer linear programming by taking into account two stages for proper charging of the storage units. This model is considered as a deterministic problem that aims to minimize operating costs and promote self-consumption based on 24-hour ahead forecast data. The operation of the microgrid is complemented with a supervisory control stage that compensates any mismatch between the offline scheduling process and the real time microgrid operation. The proposal has been tested experimentally in a hybrid microgrid at the Microgrid Research Laboratory, Aalborg University.Peer ReviewedPostprint (author's final draft