Projects per year
Abstract
The integration of renewable generation and the electrification of heating and transportation are critical for the sustainable energy transition toward net-zero greenhouse gas emissions. These changes require the large-scale adoption of distributed energy resources (DERs). Peer-to-peer (P2P) energy trading has gained attention as a new approach for incentivizing the uptake and coordination of DERs, with advantages for computational scalability, prosumer autonomy, and market competitiveness. However, major unresolved challenges remain for scaling out P2P trading, including enforcing network constraints, managing uncertainty, and mediating transmission and distribution conflicts. Here, we propose a novel multiscale design framework for P2P trading, with inter-platform coordination mechanisms to align local transactions with system-level requirements, and analytical tools to enhance long-term planning and investment decisions by accounting for forecast real-time operation. By integrating P2P trading into planning and operation across spatial and temporal scales, the adoption of large-scale DERs is tenable and can create economic, environmental, and social co-benefits.
Original language | English |
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Pages (from-to) | 629-638 |
Journal | One Earth |
Volume | 4 |
Issue number | 5 |
Early online date | 21 May 2021 |
DOIs | |
Publication status | E-pub ahead of print - 21 May 2021 |
Keywords / Materials (for Non-textual outputs)
- Distributed energy resource
- flexibility
- local energy market
- Market design
- multiagent control
- multiscale design
- network planning
- peer-to-peer
- platform
- power system
- spatial
- temporal
- timescale
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Dive into the research topics of 'Multiscale design for system-wide peer-to-peer energy trading'. Together they form a unique fingerprint.Projects
- 3 Finished
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EPSRC-SFI: Blockchain transactions in the electricity industry: beyond tokenised energy
Morstyn, T. (Principal Investigator)
1/08/21 → 28/02/23
Project: Research
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A Networked Market Platform for Electric Vehicle Smart Charging
Morstyn, T. (Principal Investigator)
16/07/20 → 29/06/21
Project: Research
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Energy Revolution Research Consortium (ERRC) - Plus - EnergyREV - Market Design for Scaling up Local Clean Energy Systems
Morstyn, T. (Principal Investigator)
15/07/20 → 31/03/23
Project: Research