Peer-to-Peer Energy Trading

Thomas Morstyn, Malcolm D. McCulloch

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract / Description of output

This chapter presents peer-to-peer energy trading as an emerging case study for the sharing economy. Power systems are undergoing a fundamental transition due to the emergence of distribution network prosumers; proactive-consumers with renewable sources and flexible energy resources that actively manage their consumption, production and storage of energy. Peer-to-peer energy trading has been proposed as a new strategy for integrating prosumers into power system operations. The chapter presents an overview of different business models peer-to-peer energy trading can support, and reviews the mathematical frameworks that have been proposed for designing peer-to-peer and other prosumer-centric energy markets. Case studies are presented, showing how a peer-to-peer energy trading platform can create value for prosumers with a mix of PV generation sources, home battery systems and electric vehicles. Networked matching market theory is used to design a peer-to-peer negotiation mechanism through which the prosumers can agree on a set of mutually beneficial energy transactions none of them wish to renegotiate. Local demand constraints can be enforced by including the prosumers’ supplier in the peer-to-peer market.
Original languageEnglish
Title of host publicationAnalytics for the sharing economy
Subtitle of host publicationMathematics, engineering and business perspectives
EditorsEmanuele Crisostomi, Bissan Ghaddar, Florian Häusler, Joe Naoum-Sawaya, Giovanni Russo, Robert Shorten
PublisherSpringer International Publishing AG
Pages279-300
ISBN (Electronic)978-3-030-35032-1
ISBN (Print)9783030350321
DOIs
Publication statusPublished - 12 Mar 2020

Keywords / Materials (for Non-textual outputs)

  • Collaborative consumption
  • Control Theory
  • Green Mobility
  • Optimization for Shared Systems
  • Shared economy models
  • Sharing Economy
  • Sustainable Energy

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