Abstract
The peer-to-peer (P2P) energy trading is anchored in more efficient usage of electric power by allowing excess electric power from energy prosumers to be harnessed by other end-users. To boost the P2P energy trading, it is of pivotal significance to call on energy prosumers and end-users to actively participate in the trading while sharing information with a greater degree of freedom. In this perspective, this paper purports to implement the P2P energy trading scheme with an optimization model to assist in energy prosumers’ decisions by reckoning on hourly electric power available in the trading via the optimal energy scheduling of the energy trading and sharing system (ETS). On a purely practical level, it is assumed that all trading participants neither join the separate bidding processes nor are forced to comply with the predetermined optimal schedules for a trading period. Furthermore, this paper will be logically elaborated with reference to not only the determination of transaction price for maximizing the benefits of consumers under the different electricity rates but the establishment of additional settlement standards for bridging an imperative gap between optimally planned and actually transacted quantities of the P2P energy trading.
Highlights
Global interests in transition to a sustainable energy future and reduction of greenhouse gas emissions triggered by the United Nations Framework Convention on Climate Change (UNFCCC) [1]have been moving steadily to huge investments in technologies of distributed energy resources (DERs).Since the Paris climate agreement of 2015 [2], this change has been spotlighted as an effective way to forge the new climate regime and avert the climate crisis.The fossil fuel-based centralized energy industry will be soon replaced by the decentralized one with relatively energy-efficient and eco-friendly solutions used by energy prosumers
For simplicity, assumed that each microgrid stands for one energy prosumer and mutual energy exchange is achieved by virtual tie-lines adjoining other while considering the hourly P2P energy trading in June of 2018
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Summary
Global interests in transition to a sustainable energy future and reduction of greenhouse gas emissions triggered by the United Nations Framework Convention on Climate Change (UNFCCC) [1]have been moving steadily to huge investments in technologies of distributed energy resources (DERs).Since the Paris climate agreement of 2015 [2], this change has been spotlighted as an effective way to forge the new climate regime and avert the climate crisis.The fossil fuel-based centralized energy industry will be soon replaced by the decentralized one with relatively energy-efficient and eco-friendly solutions used by energy prosumers. The synergistic convergence of energy and ICT may track energy consumption of end-users in real time with an innovative automatic system, thereby integrating their energy consumption and DERs to a single consistent system and optimizing the total energy supply and demand. It can provoke the fundamental change in end-users’ behaviors by analyzing and visualizing their energy consumption patterns. To this end, outstanding efforts to incorporate the proliferation of renewables as well as the advancement of ICT and energy-related technologies into a new business realm are underway around the world [5].
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