Design and implementation of a peer-to-peer energy trading scheme in multi-microgrid network with photovoltaics and wind energy

Abstract

Expected widespread deployment of Peer-to-Peer energy transactions through affective utilization of Renewable Energy Sources require efficient energy transaction mechanism among the microgrids. We propose a scheme to establish peer-to-peer energy trading in multi-microgrid network by considering photovoltaic and wind energy systems. The research objectives are to minimize overall cost of all microgrids in multi-microgrid network and minimize the loading on centralized power network. Various parameters of photovoltaics and wind energy systems are modeled to explore their impact on P2P energy trading. Energy Management Unit establishes the smart contracts among microgrids, manages power transactions and calculates the cost based on dynamic pricing scheme in the multi-microgrid network. Two different cases are considered with respect to the types of power transaction among the microgrids in the multi-microgrid network and main grid. The effectiveness of the proposed scheme is validated by implementing on local small-scale power distribution system.