Prosumer Segmentation Strategies for Local Electricity Market Partaking by Monetary Reward

Mochi, Pratik; Pandya, Kartik S.; Faia, Ricardo; Soares, João

doi:10.1109/access.2023.3287323

Cited by 5 publications

(3 citation statements)

References 41 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…To address this critical gap, in our previous work [16], we proposed a novel and holistic approach to prosumer segmentation, which aims to enhance prosumers benefit maximization in local energy trading. In prior research, our work has delved into the design and optimization of LEM, with a particular focus on enhancing prosumer engagement and financial incentives.…”

Section: Related Work and Backgroundmentioning

confidence: 99%

“…A part of the community utilized for the study was derived from system data sourced from research [18]. These data are openly accessible, as provided in [16], for public download and utilization. The power capacity of the connected photovoltaic energy and battery is illustrated in Figure 2.…”

Section: Case Study Detailsmentioning

confidence: 99%

“…Equations (9) and (10) are the mathematical representations for assessing the cost and revenue associated with electricity buy and sell transactions in P2P for all prosumers. These calculations are subject to limits (11)(12)(13)(14)(15)(16)(17)(18).…”

Section: Mathematical Modelmentioning

confidence: 99%

See 2 more Smart Citations

Six-Segment Strategy for Prosumers’ Financial Benefit Maximization in Local Peer-to-Peer Energy Trading

Mochi,

Pandya,

Faia

et al. 2023

Mathematics

Self Cite

View full text Add to dashboard Cite

The notion of prosumers, people who create and consume energy, has emerged in the energy sector as a result of the fast integration of renewable energy sources and advances in digital technology. Platforms for peer-to-peer (P2P) energy trading have come to light as viable ways to allow prosumers to conduct direct energy transactions within small groups. Existing P2P trading models, however, frequently lack an optimized approach to maximize the advantages for prosumers. In this article, we provide a novel six-segment strategy (SSS) that is intended to increase prosumers′ ability to maximize their benefits in P2P energy trading systems. Additionally, the SSS promotes prosumers′ active market engagement by supporting community-driven energy exchanges. Through extensive mathematical modeling, simulations, and case studies, we demonstrate the effectiveness of the six-segment strategy in enhancing the economic benefits of prosumers participating in P2P energy trading. The proposed optimization strategy holds the potential to revolutionize the energy landscape by promoting more sustainable and consumer-centric energy trading. The cost savings of 12.9% are distributed among prosumers by the SSS, which is an improvement compared with previously proposed strategies.

show abstract

Section: Related Work and Backgroundmentioning

confidence: 99%

Section: Case Study Detailsmentioning

confidence: 99%