Peer-to-peer energy trading in a microgrid

Zhang, Chenghua, Wu, Jianzhong ORCID: https://orcid.org/0000-0001-7928-3602, Zhou, Yue ORCID: https://orcid.org/0000-0002-6698-4714, Cheng, Meng and Long, Chao ORCID: https://orcid.org/0000-0002-5348-8404 2018. Peer-to-peer energy trading in a microgrid. Applied Energy 220 , pp. 1-12. 10.1016/j.apenergy.2018.03.010

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Abstract

Peer-to-Peer (P2P) energy trading describes flexible energy trades between peers, where the excess energy from many small-scale Distributed Energy Resources (DERs) is traded among local customers. The feasibility of applying P2P energy trading to reduce costs for energy consumers, and to increase income for DER producers in a community microgrid was investigated. Three representative market paradigms were proposed, i.e. bill sharing, mid-market rate and an auction based pricing strategy. Each of them specified detailed business models, local energy exchange prices, as well as quantified individual customer's energy costs. An example of each methodology applied to a residential community microgrid with PV systems, validated the effectiveness of the proposed P2P trading mechanisms and identified the benefits.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Engineering
Additional Information:	This is an open access article under the terms of the CC-BY Attribution 4.0 International license.
Publisher:	Elsevier
ISSN:	0306-2619
Date of First Compliant Deposit:	19 March 2018
Date of Acceptance:	13 March 2018
Last Modified:	05 May 2023 11:22
URI:	https://orca.cardiff.ac.uk/id/eprint/109995

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