Optimal Expansion Planning of Distributed Energy Resources with Peer-to-Peer Transactions Among Prosumers

Abstract

AbstractThe rapid increase in the distributed energy resources generation has triggered the new trend of prosumer-centric markets with peer-to-peer (P2P) transactions. However, the long-term planning management for renewable generation will also be influenced by P2P transactions, apart from the short-term marketing strategies of prosumers. This paper analyses the impacts on prosumers’ long-term planning for distributed energy generation expansion resulted from P2P transactions in the distribution networks. Based on the established P2P transaction model and operation model of the distribution network, we further propose the expansion model of PV generation and battery energy storage system (BESS) for prosumers. The case studies verify that P2P transactions can effectively incentive prosumers to increase the penetration of distributed energy in the distribution network. Besides, it is also found that P2P transactions can help to improve the total social welfare of the distribution network and reduce the fluctuation of the total load in the distribution network.KeywordsDistributed energy resources expansionP2P transactionsProsumer-centric markets