Development of operator-oriented peer-to-peer energy trading model for integration into the existing distribution system

Heo, Kangjoon; Kong, Junhyuk; Oh, Seongmun; Jung, Jaesung

doi:10.1016/j.ijepes.2020.106488

Cited by 23 publications

(23 citation statements)

References 18 publications

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“…Blockchain technologies offer innovative solutions that enable consumers, end-users, and small producers of renewable energy to play a more active role in the energy market and maintain liquidity by easily selling assets [19,59]. Recently, many scientific studies have been written on the use of blockchain technology in peer-to-peer networks [60][61][62], energy trade [63,64], and microgrid demand response programs [19,65]. Blockchain can build an open and collaborative data flow system, turn data into mobile assets, and launch various open and integrated business models.…”

Section: The Importance Of Blockchain In the Energy Sectormentioning

confidence: 99%

Digitization, Digital Twins, Blockchain, and Industry 4.0 as Elements of Management Process in Enterprises in the Energy Sector

Borowski

2021

Energies

267

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In the 21st century, it is becoming increasingly clear that human activities and the activities of enterprises affect the environment. Therefore, it is important to learn about the methods in which companies minimize the negative effects of their activities. The article presents the steps taken and innovative actions carried out by enterprises in the energy sector. The article analyzes innovative activities undertaken and implemented by enterprises from the energy sector. The relationships between innovative strategies, including, inter alia, digitization, and Industry 4.0 solutions, in the development of companies and the achieved results concerning sustainable development and environmental impact. Digitization has far exceeded traditional productivity improvement ranges of 3–5% per year, with a clear cost improvement potential of well above 25%. Enterprises on a large scale make attempts to increase energy efficiency by implementing the state-of-the-art innovative technical and technological solutions, which increase reliability and durability (material and mechanical engineering). Digitization of energy companies allows them to reduce operating costs and increases efficiency. With digital advances, the useful life of an energy plant can be increased up to 30%. Advanced technologies, blockchain, and the use of intelligent networks enables the activation of prosumers in the electricity market. Reducing energy consumption in industry and at the same time increasing energy efficiency for which the European Union is fighting in the clean air package for all Europeans have a positive impact on environmental protection, sustainable development, and the implementation of the decarbonization program.

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Section: The Importance Of Blockchain In the Energy Sectormentioning

confidence: 99%

Digitization, Digital Twins, Blockchain, and Industry 4.0 as Elements of Management Process in Enterprises in the Energy Sector

Borowski

2021

Energies

267

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“…Although digitization trends are available to facilitate P2P energy trading, these technologies are very expensive and require high initial investments. Initial technological investments for the development of P2P energy trading include a digital trading platform, ICT devices, smart meters, and broadband communication infrastructure, as described by Heo et al [88]. To ensure the stability of the trading platform, operation and maintenance costs are also required to implement the trading platform.…”

Section: Discussionmentioning

confidence: 99%

“…A platform with a complex user interface or trading mechanism is likely to hinder participants to join the trade. In addition, less tech-savvy people may be less likely to be able to trade effectively, leading to further disadvantages, although the shrinking "digital divide" may reduce this disadvantage over time [88].…”

mentioning

confidence: 99%

“…The P2P energy trading concept still lacks social awareness and acceptance [89]. As P2P energy trading is the new concept of local electricity trading and new technologies such as smart meters and blockchain are being introduced, building trust between stakeholders in the adoption of this new technology is a very important issue [88]. In addition, the implementation of the P2P model will influence the lifestyle and cultural practices related to the supply and demand of electricity in the local community [90][91][92].…”

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confidence: 99%

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Drivers and Challenges of Peer-to-Peer Energy Trading Development in Thailand

2022

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Recent developments in disruptive technologies along with the cost reduction of photovoltaics have been transforming business models in the electricity sector worldwide. The rise of prosumers has led to a more decentralized and open local green energy market through the emergence of peer-to-peer (P2P) energy trading, where consumers and prosumers can buy or sell electricity through an online trading platform. P2P energy trading has the potential to make green energy more accessible at the local level, provide a customer choice that aligns with community values, and promote the use of renewable energy (RE) for local consumption. Although P2P energy trading has already been adopted in some countries, its implementation remains challenging in other countries, including Thailand. In this work, we investigated the drivers and challenges of implementing P2P energy trading in Thailand based on the perspectives of P2P energy trading pilot project developers participating in the regulatory sandbox program. A strategic framework was used to identify the respondents’ standpoints on the political, economic, social, technological, legal, and environmental (PESTLE) factors that can influence the implementation of P2P energy trading. This can help businesses, policymakers, and regulators better understand drivers and barriers of P2P energy trading, which is a potential local energy market. This paper also provides policy recommendations for regulatory changes for the future development of P2P energy trading, including opening a third-party access (TPA) regime, enabling a liberalized market in the electricity market, and integrating the role and responsibilities of the prosumer for P2P energy trading into existing law.

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“…Furthermore, the capacities of residential, commercial, and industrial PVs are 200 kW, below 2 MW, and greater than 2 MW. The original test system did not provide a time-varying load; therefore, simulations were performed using the hourly consumption data obtained from [25]. For diversity, different types of loads are applied, including industrial, commercial, and residential customers.…”

Section: Case Studymentioning

confidence: 99%

Congestion Management by Allocating Network Use Cost for the Small-Scale DER Aggregator Market in South Korea

et al. 2021

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The increasing penetration level of distributed energy resources (DERs) increases the risk of congestion in the distribution network. To mitigate this, the concept of the small-scale DER aggregator was introduced as a change from uncoordinated to coordinated DERs. However, without appropriate network use cost allocation, the unwanted DER curtailment will be enforced by the network operator. Therefore, this paper proposes a new approach for congestion management by allocating the different network usage costs depending on how much congestion is caused by the DERs in the distribution network. For this, a modified Kirschen’s tracing method is proposed and applied to the small-scale DER aggregator market. To verify the effectiveness of the proposed method, a simulation of the small-scale DER aggregator market in South Korea was performed under the IEEE 69-bus distribution network. The model was able to allocate the different network usage costs at different buses and, thus, encouraged the DERs to reduce their generation by charging the energy storage system (ESS) to mitigate congestion. An economic benefit analysis was also performed from the point of view of the aggregator concerning whether they should have an ESS or not.

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Development of operator-oriented peer-to-peer energy trading model for integration into the existing distribution system

Cited by 23 publications

References 18 publications

Digitization, Digital Twins, Blockchain, and Industry 4.0 as Elements of Management Process in Enterprises in the Energy Sector

Digitization, Digital Twins, Blockchain, and Industry 4.0 as Elements of Management Process in Enterprises in the Energy Sector

Drivers and Challenges of Peer-to-Peer Energy Trading Development in Thailand

Congestion Management by Allocating Network Use Cost for the Small-Scale DER Aggregator Market in South Korea

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