Peer-to-peer energy sharing through a two-stage aggregated battery control in a community Microgrid

Long, Chao; Wu, Jianzhong; Zhou, Yue; Jenkins, Nick

doi:10.1016/j.apenergy.2018.05.097

Cited by 442 publications

(280 citation statements)

References 29 publications

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“…The reason is that some consumers or prosumers cannot participate in the trading due to limited time, lack of expertise, and above all, lack of technology. Similarly, another problem arose in References [31,32], and there is a possibility for the occurrence of single point of failure since the proposed models allowed a third party to serve as a controller to manage or control prosumers' batteries and all transaction information. Moreover, the system is prone to privacy threats, i.e., information disclosure and security concern.…”

Section: Problem Statementmentioning

confidence: 99%

“…Generally, according to the literature discussed in References [30][31][32], most of the research do not emphasize how to resolve the privacy and security challenges and a single point of failure problem. Moreover, none of the literature explicitly considers resolving the issues of energy hoarders in peak generation hours.…”

Section: Problem Statementmentioning

confidence: 99%

“…This mechanism ensures that all members participating in local energy trading gain better economic benefits. This pricing model is modified from the Supply and Demand Ratio (SDR) mechanism [32] to include demurrage value, and • a thorough assessment is conducted in the research to evaluate the economic benefits of the buyers and sellers of locally generated energy in a residential community. Also, based on the proposed system, the potential security risks of the energy trading system are analyzed.…”

Section: Problem Statementmentioning

confidence: 99%

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Blockchain Based Sustainable Local Energy Trading Considering Home Energy Management and Demurrage Mechanism

et al. 2020

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With the increase in local energy generation from Renewable Energy Sources (RESs), the concept of decentralized peer-to-peer Local Energy Market (LEM) is becoming popular. In this paper, a blockchain-based LEM is investigated, where consumers and prosumers in a small community trade energy without the need for a third party. In the proposed model, a Home Energy Management (HEM) system and demurrage mechanism are introduced, which allow both the prosumers and consumers to optimize their energy consumption and to minimize electricity costs. This method also allows end-users to shift their load to off-peak hours and to use cheap energy from the LEM. The proposed solution shows how energy consumption and electricity cost are optimized using HEM and demurrage mechanism. It also provides economic benefits at both the community and end-user levels and provides sufficient energy to the LEM. The simulation results show that electricity cost is reduced up to 44.73% and 28.55% when the scheduling algorithm is applied using the Critical Peak Price (CPP) and Real-Time Price (RTP) schemes, respectively. Similarly, 65.15% and 35.09% of costs are reduced when CPP and RTP are applied with demurrage mechanism. Moreover, 51.80% and 44.37% electricity costs reduction is observed when CPP and RTP are used with both demurrage and scheduling algorithm. We also carried out security vulnerability analysis to ensure that our energy trading smart contract is secure and bug-free against the common vulnerabilities and attacks.

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Section: Problem Statementmentioning

confidence: 99%

Section: Problem Statementmentioning

confidence: 99%

Section: Problem Statementmentioning

confidence: 99%

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Blockchain Based Sustainable Local Energy Trading Considering Home Energy Management and Demurrage Mechanism

et al. 2020

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“…An optimization model is developed in [9] for the photovoltaic (PV)-battery system in the P2P market with real-world constraints and market signals. A similar PV and battery-driven P2P energy trading model is also proposed in [10] through an aggregated two-stage battery control technology. Trading mechanisms that focus on empowering prosumers in the market are proposed in [11] and [12].…”

Section: Introductionmentioning

confidence: 99%

A coalition formation game framework for peer-to-peer energy trading

et al. 2020

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This paper studies social cooperation backed peer-to-peer energy trading technique by which prosumers can decide how they can use their batteries opportunistically for participating in the peer-to-peer trading. The objective is to achieve a solution in which the ultimate beneficiaries are the prosumers, i.e., a prosumer-centric solution. To do so, a coalition formation game is designed, which enables a prosumer to compare its benefit of participating in the peer-to-peer trading with and without using its battery and thus, allows the prosumer to form suitable social coalition groups with other similar prosumers in the network for conducting peer-to-peer trading. The properties of the formed coalitions are studied, and it is shown that 1) the coalition structure that stems from the social cooperation between participating prosumers at each time slot is both stable and optimal, and 2) the outcomes of the proposed peerto-peer trading scheme is prosumer-centric. Case studies are conducted based on real household energy usage and solar generation data to highlight how the proposed scheme can benefit prosumers through exhibiting prosumer-centric properties.

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“…The results under traditional expected utility theory and prospect theory were analyzed and compared. Another research focus was the peer-to-peer (P2P) energy sharing [21]- [23]. In the above studies, the sharing prices are set by the platform via solving a Stackelberg game, in which the upper level is the platform's pricing problem and the lower level prosumers' decision making problems.…”

mentioning

confidence: 99%

An Energy Sharing Game With Generalized Demand Bidding: Model and Properties

Chen

Mei

Zhou

et al. 2020

IEEE Trans. Smart Grid

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This paper proposes a novel energy sharing mechanism for prosumers who can produce and consume. Different from most existing works, the role of individual prosumer as a seller or buyer in our model is endogenously determined. Several desirable properties of the proposed mechanism are proved based on a generalized game-theoretic model. We show that the Nash equilibrium exists and is the unique solution of an equivalent convex optimization problem. The sharing price at the Nash equilibrium equals to the average marginal disutility of all prosumers. We also prove that every prosumer has the incentive to participate in the sharing market, and prosumers' total cost decreases with increasing absolute value of price sensitivity. Furthermore, the Nash equilibrium approaches the social optimal as the number of prosumers grows, and competition can improve social welfare.

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Peer-to-peer energy sharing through a two-stage aggregated battery control in a community Microgrid

Cited by 442 publications

References 29 publications

Blockchain Based Sustainable Local Energy Trading Considering Home Energy Management and Demurrage Mechanism

Blockchain Based Sustainable Local Energy Trading Considering Home Energy Management and Demurrage Mechanism

A coalition formation game framework for peer-to-peer energy trading

An Energy Sharing Game With Generalized Demand Bidding: Model and Properties

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