Peer-to-peer energy trading in a community microgrid

Long, Chao ORCID: https://orcid.org/0000-0002-5348-8404, Wu, Jianzhong ORCID: https://orcid.org/0000-0001-7928-3602, Zhang, Chenghua, Thomas, Lee ORCID: https://orcid.org/0000-0002-4602-5102, Cheng, Meng and Jenkins, Nick ORCID: https://orcid.org/0000-0003-3082-6260 2018. Peer-to-peer energy trading in a community microgrid. Presented at: 2017 IEEE Power & Energy Society General Meeting, Chicago, IL, USA, 16-20 July 2017. Power & Energy Society General Meeting, 2017 IEEE. IEEE, 10.1109/PESGM.2017.8274546

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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:	Conference or Workshop Item (Paper)
Date Type:	Publication
Status:	Published
Schools:	Engineering
Publisher:	IEEE
ISBN:	9781538622131
Date of Acceptance:	16 July 2017
Last Modified:	22 Nov 2022 10:01
URI:	https://orca.cardiff.ac.uk/id/eprint/111423

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