P2P Energy Trading with Decentralized Energy Storage Embedded Network Loss

Vikash Kumar Saini, Rajesh Kumar, Ameena S. Al-Sumaiti

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

1 Citation (Scopus)

Abstract

The deployment of distributed energy sources (DES), has transformed ordinary consumers into active par-ticipants in the local energy market (LEM). Digitalization of distribution system and Peer-to-peer (P2P) energy trading is a new paradigm introduced by this development. However, the design of policy and guidelines for trading of energy in LEM is still in its infancy. This research offers a P2P energy trading model for residential community in response to the growing complexity of the market structure and decision-making techniques. In order to do this, a mathematical model is offered, together with the guidelines for purchasing and selling energy. This study uses the historical demand, PV generation and price profiles of the Indian residential community to suggest a trading platform with PV power penetration of 56.57% of the average demand. Five scenarios are compared to the baseline scenario (neither PV nor storage) for P2P trading and energy storage flexibility. Results have demonstrated that the interaction between storage and P2P trading has reduced the community's grid power consumption bills by 67.12%.

Original languageEnglish
Title of host publication10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781665455664
DOIs
Publication statusPublished - 2022
Externally publishedYes
Event10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022 - Jaipur, India
Duration: 14 Dec 202217 Dec 2022

Publication series

Name10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022

Conference

Conference10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022
Country/TerritoryIndia
CityJaipur
Period14/12/2217/12/22

Keywords

  • Decentral-ized energy storage
  • Energy market
  • P2P energy trading

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering
  • Mechanical Engineering
  • Safety, Risk, Reliability and Quality

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