A review of P2P energy markets and a possible application for remote areas

Abstract

Peer-to-peer (P2P) markets are emerging as a promising alternative to the current centralized markets, especially for the management and operation of areas where traditionally passive electricity consumers become small-scale producers (prosumers). This solution may also be a more convenient alternative to an expensive extension of the existing grid infrastructure, to handle the increasing electric load. Thus, lately, extensive research work is aiming to provide efficient and reliable operation of local energy markets. This paper provides a review of current studies and decomposes the components required for P2P markets: price-formation, prosumers behavior, grid technical specifications, and peer-matching optimization algorithms. Furthermore, it examines the existing case studies that are moving towards P2P energy trading. Finally, we propose the interconnection of microgrids in a remote rural area as a possible application of P2P trading. A simple case study with two microgrids shows that peer-to-peer transactions may allow reducing generation capacities by 10% and storage system by 50%.

A Review of Peer-to-Peer Energy Trading with Standard Terminology Proposal and a Techno-Economic Characterisation Matrix

“…P2P market design [3,8,9, P2P/P2G market design [9,11,16,42,46,[57][58][59][60] P2P design on sector coupling [61][62][63][64] Physical and virtual Layer [3,13,25,34,40,51,56,[65][66][67][68][69][70][71][72][73][74][75][76] Social perspectives [66,71,[77][78][79][80][81][82][83][84][85][86] Policy perspectives [66,77,83,84,86,...…”

“…A Korean test case study for three different MGs performing P2P-P2G transactions using the market clearing price signal is analyzed in [59]. Dudkina E. et al in [57] presented a pure P2G power flow optimization problem for two remote villages physically interconnected between each other.…”

P2P Energy Exchange Architecture for Swarm Electrification-Driven PV Communities

“…A review of P2P energy markets with Blockchain technology-based control has shown various alternatives for their implementation. However, to the authors' best knowledge, the P2P market model has not been adequately considered in rural areas [24]. This is primarily due to the continued lack of internet access, which remains a significant obstacle to the promotion of innovative P2P energy sharing solutions.…”