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

Evolution of microgrids with converter-interfaced generations: Challenges and opportunities

© 2019 Elsevier Ltd Although microgrids facilitate the increased penetration of distributed generations (DGs) and improve the security of power supplies, they have some issues that need to be better understood and addressed before realising the full potential of microgrids. This paper presents a comprehensive list of challenges and opportunities supported by a literature review on the evolution of converter-based microgrids. The discussion in this paper presented with a view to establishing microgrids as distinct from the existing distribution systems. This is accomplished by, firstly, describing the challenges and benefits of using DG units in a distribution network and then those of microgrid ones. Also, the definitions, classifications and characteristics of microgrids are summarised to provide a sound basis for novice researchers to undertake ongoing research on microgrids

Peer-to-Peer Energy Trading in the Real World: Market Design and Evaluation of the User Value Proposition

Electricity markets are experiencing a shift to a more decentralized structure with small distributed renewable generation sources like residential photovoltaic systems. Simultaneously, information systems have driven the development of a “sharing economy” also in the electricity sector and can enable previously passive consumers to directly trade solar electricity in local communities. However, it is unclear how such peer-to-peer (P2P) markets should be designed to create value for the user. In a framed field experiment, we design and implement Switzerland’s first real-world P2P electricity market in a local community. We examine its value proposition for the users and elicit user preferences by enabling the participants to directly influence buy and sell prices for local solar energy. The collected empirical evidence suggests that the P2P exchange is beneficial for users and provides incentives for generation of renewable energy. The results create valuable insights for the design and diffusion of future energy markets

Rooftop photovoltaics:sizing, markets and resource balancing in small communities

Abstract. The photovoltaic potential of Finnish rooftops in small-scale energy communities has been acknowledged in case studies and research among economic and technology studies. This is a Bachelor’s thesis about the future expectations of rooftop photovoltaic generation in finnish housing companies. The renewable energy sources are becoming increasingly popular as taxing and energy expenses from polluting energy generation such as fossil fuel technologies are raising electricity prices for consumers. The methodology of this study is a literature review of legal, economic and technical research from recent years. The important interpretation requires connecting the important parameters such as self-sustainability, efficiency, payback time and demand flexibility compared to initial investments on renewable energy. The smart grid load balancing is affected by micro-generation in communities and online data services are needed to follow optimal sizing for the available technology included in small-scale energy production. On the other hand it is argued that the technology equipment used for solar arrays including transportation, wiring and batteries are not yet recycled or resourced sustainably. That is why wind and nuclear are involved in an energy transition where new technologies are tested in energy communities and an environmentally friendly image is redefined. Larger consumption patterns for housing companies are likely if smart appliances such as smart meters and electric cars are integrated to housing and transportation with the result of digitalization. Connecting hardware and software is why housing communities could provide management in shared online platforms for smart electricity sharing and energy market economic interests.Aurinkosähkön tuotanto katolla : mitoitus, markkinapaikat ja resurssien tasapainottaminen pienissä yhteisöissä. Tiivistelmä. Suomalaisten kattojen aurinkosähköpotentiaali pienen mittakaavan energiayhteisöissä on tunnustettu talous- ja teknologiatutkimuksen projekteissa ja tutkimuksessa. Tämä on kandidaatintutkielma tulevaisuuden näkökulmista aurinkosähkön tuotantoon taloyhtiöiden katoilla Suomessa. Uusiutuvista energialähteistä on tulossa yhä suositumpia, sillä saastuttavan energiantuotannon, kuten fossiilisten polttoaineiden teknologioiden, verottaminen ja energiakustannukset nostavat sähkön hintoja kuluttajille. Tämän tutkimuksen menetelmä on kirjallisuuskatsaus viime vuosien oikeudelliseen, taloudelliseen ja tekniseen tutkimukseen. Tulkintojen tarkkuutta edellyttää tärkeiden parametrien, kuten tuotannon omavaraisuuden, tehokkuuden, takaisinmaksuajan ja kysynnän joustavuuden yhdistämistä verrattuna uusiutuviin energialähteisiin tehtäviin alkuinvestointeihin. Älyverkon kuormituksen tasapainottamiseen vaikuttaa mikrotuotanto yhteisöissä ja virtuaalisia datapalveluja tarvitaan, jotta voidaan noudattaa optimaalista mitoitusta energian pientuotantoon käytettävissä olevalle tekniikalle. Toisaalta on väitetty, että aurinkosähköjärjestelmiin, kuten kuljetukseen, johdotukseen ja akkuihin, käytettäviä sähkölaitteita ei ole vielä kierrätetty tai tai niiden tuotantoa järjestetty kestävästi. Siksi myös tuuli- ja ydinvoima ovat mukana energiatalouden muodonmuutoksessa, jossa uusia teknologioita testataan energiayhteisöissä ja ympäristöystävällisyyden käsite voidaan määritellään uudelleen. Taloyhtiöiden laajenevat kulutustottumukset ovat todennäköisiä älylaitteiden, kuten uuden sukupolven sähkömittarien ja sähköautojen integroitumisessa asumiseen ja liikenteeseen digitalisaation tuloksena. Teknologisten laitteistojen ja ohjelmistojen yhdistäminen on syy siihen, miksi taloyhtiöt voivat toimia jaetuilla verkkoalustoilla älykkään sähkön jakamisen ja energiamarkkinoiden taloudellisten etujen saavuttamiseksi