Using peer-to-peer energy-trading platforms to incentivize prosumers to form federated power plants

By Thomas Morstyn, Niall Farrell, Sarah Darby, Malcolm Duncan McCulloch. Nature Energy, 2018

728 citations recorded by the source corpus.

Subfields: Control and Systems Engineering, Electrical and Electronic Engineering

View Paper: https://www.semanticscholar.org/paper/5a9a8a80ddbfd3169d92c5d7005377d237ce1c47

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In Control and Systems Engineering

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Citations in the corpus

State-of-the-Art Analysis and Perspectives for Peer-to-Peer Energy Trading (2020, background): “Efforts are being made to consider how regulatory schemes should facilitate the development of P2P energy trading and to deal with the associated challenges [21,69,70,92].”
Peer-to-Peer Trading in Electricity Networks: An Overview (2020, background): “At the same time, the grid — consisting of generators, retailers, and distribution network system provider (DNSPs) — can also obtain significant benefit in terms of reducing peak demand [10], lowering investment and operational costs [11], minimizing reserve requirements [12], and improving power sy”
Consensus-Based Approach to Peer-to-Peer Electricity Markets With Product Differentiation (2018, background): “However, this requires profoundly rethinking electricity market design in a more consumer-centric manner, as for instance based on the recently proposed concept of federated power plants [3].”
Review of Smart Meter Data Analytics: Applications, Methodologies, and Challenges (2018, background): “In the future peer-to-peer (P2P) market, individual load forecasting can also contribute to the implementation of transactive energy between consumers [71], [72].”
Energy Peer-to-Peer Trading in Virtual Microgrids in Smart Grids: A Game-Theoretic Approach (2020, background): “The motivations include modelling the psychological behaviour of the traders, the problems of feed-in tariff (FiT), the imposition of energy dispatch limits on distributed energy generators (DEG) by some local governments [13], [15] and incentives [16], [17].”
Peer-to-Peer Energy Systems for Connected Communities: A Review of Recent Advances and Emerging Challenges (2020, background): “For example, in [6], the authors show how P2P trading can be exploited to incentivize prosumers to coordinate with one another to produce a federated power plant in the smart grid.”
User behavior in a real-world peer-to-peer electricity market (2020, background): “Moreover, P2P energy markets might incentivize a larger share of the population to shift their consumption to production times of DERs.”
Prosumer Communities and Relationships in Smart Grids: A Literature Review, Evolution and Future Directions (2018, background): “The federated power plant is another type of electricity market structure wherein P2P trading of autonomous prosumers forms a VPP [49].”
Local flexibility markets: Literature review on concepts, models and clearing methods (2020, background): “[85] Morstyn T, Farrell N, Darby SJ, McCulloch MD.”
A Motivational Game-Theoretic Approach for Peer-to-Peer Energy Trading in the Smart Grid (2019, methodology): “Otherwise, prosumers may decide to go off-grid bringing inefficient outcomes to both the grid and the prosumers [4].”
A Survey and Evaluation of the Potentials of Distributed Ledger Technology for Peer-to-Peer Transactive Energy Exchanges in Local Energy Markets (2019, neutral): “In a Peer-to-peer (P2P) context, this management is decentralized and regulated among the “peers” participating to the energy network, which becomes a virtual energy power grid [42]–[44].”
Designing Decentralized Markets for Distribution System Flexibility (2019, background): “If P2P energy trading platforms become widespread, new mechanisms will be needed allowing DSOs to engage and negotiate with aggregators and prosumers to obtain flexibility [42].”