Peer-to-Peer Energy Sharing: A New Business Model Towards a Low-Carbon Future

Chen, Yue; Zhao, Changhong

doi:10.48550/arxiv.2108.04057

Cited by 2 publications

(4 citation statements)

References 97 publications

(140 reference statements)

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“…Eventually, problem ( 15) is tractable and it minimizes the DSOs' cost by optimizing the coefficients k 0∼3 t and l 0∼3 t . As δ and u are subject to constraints in the ambiguity set H as defined in (11) as well as (14), problem (15) including the DRO constraints can be solved using the duality theory afterwards.…”

Section: Uncertainty Modellingmentioning

confidence: 99%

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Incorporate Day-ahead Robustness and Real-time Incentives for Electricity Market Design

Guo¹,

Han²,

Zhou³

et al. 2022

Preprint

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In this paper, we propose a two-stage electricity market framework to explore the participation of distributed energy resources (DERs) in a day-ahead (DA) market and a real-time (RT) market. The objective is to determine the optimal bidding strategies of the aggregated DERs in the DA market and generate online incentive signals for DER-owners to optimize the social-welfare taking into account network operational constraints. Distributionally robust optimization is used to explicitly incorporate data-based statistical information of renewable forecasts into the supply/demand decisions in the DA market. We evaluate the conservativeness of bidding strategies distinguished by different risk aversion settings. In the RT market, a bi-level time-varying optimization problem is proposed to design the online incentive signals to tradeoff the RT imbalance penalty for distribution system operators (DSOs) and the costs of individual DER-owners. This enables tracking their optimal dispatch to provide fast balancing services, in the presence of time-varying network states while satisfying the voltage regulation requirement. Simulation results on both DA wholesale market and RT balancing market demonstrate the necessity of this two-stage design, and its robustness to uncertainties, the performance of convergence, the tracking ability and the feasibility of the resulting network operations.

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Section: Uncertainty Modellingmentioning

confidence: 99%

“…In [14], an online optimization framework that enables the P2P market is introduced. A new business model for P2P energy sharing is proposed and comprehensively demonstrated in [15]. Nevertheless, most of the literature focuses on designing dynamic pricing schemes for the local market and ignores the connection to the wholesale market.…”

Section: Introductionmentioning

confidence: 99%

Incorporate Day-ahead Robustness and Real-time Incentives for Electricity Market Design

Guo¹,

Han²,

Zhou³

et al. 2022

Preprint

View full text Add to dashboard Cite

show abstract

“…[24] [25] peer-to-peer (P2P) energy trading [14], energy sharing [15], local electricity market [16].…”

Section: Introductionmentioning

confidence: 99%

“…This paper focuses on the market mechanism design, which is an essential part of transactive energy. Though reviews [20,21,[23][24][25] also deal with market mechanism design, they are more from a theoretical perspective based on ideal settings without considering the information-related practical issues such as asynchronous computing, the truthfulness of the prosumers, and the possible leakage of privacy. In reality, these practical issues may cause the actual market outcome to deviate from the theoretical design, resulting in a sub-optimal solution.…”

Section: Introductionmentioning

confidence: 99%

Towards Transactive Energy: An Analysis of Information-related Practical Issues

Chen,

Yang,

2021

Preprint

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The development of distributed energy resources, such as rooftop photovoltaic (PV) panels, batteries, electric vehicles (EVs), and flexible loads, is shifting our power systems operation from a centralized manner to a decentralized manner, where local energy exchanges are empowered by transactive energy markets. Transactive energy contributes to building a low-carbon energy system by better matching the distributed renewable sources and demand. Effective market mechanisms are the key part of transactive energy design. Despite the fruitful research on related topics, there are some practical challenges remain to be addressed. This review surveys three practical issues particularly related to the information exchange in transactive energy, i.e., asynchronouscomputing, truthful-reporting, and privacy-preserving. We summarize the state-of-theart results and introduce relevant theories from multi-disciplinary. Based on these, we point out some possible research directions, which may provide some insights for future study.

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Peer-to-Peer Energy Sharing: A New Business Model Towards a Low-Carbon Future

Cited by 2 publications

References 97 publications

Incorporate Day-ahead Robustness and Real-time Incentives for Electricity Market Design

Incorporate Day-ahead Robustness and Real-time Incentives for Electricity Market Design

Towards Transactive Energy: An Analysis of Information-related Practical Issues

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