P2P Energy Trading with Decentralized Energy Storage Embedded Network Loss

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

doi:10.1109/PEDES56012.2022.10080366

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 proceeding › Conference contribution › peer-review

8 Citations (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 language	English
Title of host publication	10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022
Publisher	Institute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)	9781665455664
DOIs	https://doi.org/10.1109/PEDES56012.2022.10080366
Publication status	Published - 2022
Externally published	Yes
Event	10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022 - Jaipur, India Duration: 14 Dec 2022 → 17 Dec 2022

Publication series

Name	10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022

Conference

Conference	10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022
Country/Territory	India
City	Jaipur
Period	14/12/22 → 17/12/22

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

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

Access to Document

10.1109/PEDES56012.2022.10080366

Cite this

Saini, V. K., Kumar, R., & Al-Sumaiti, A. S. (2022). P2P Energy Trading with Decentralized Energy Storage Embedded Network Loss. In 10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022 (10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/PEDES56012.2022.10080366

Saini, Vikash Kumar ; Kumar, Rajesh ; Al-Sumaiti, Ameena S. / P2P Energy Trading with Decentralized Energy Storage Embedded Network Loss. 10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022. Institute of Electrical and Electronics Engineers Inc., 2022. (10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022).

@inproceedings{bfd784e595a547d5b1516b62b3e30f83,

title = "P2P Energy Trading with Decentralized Energy Storage Embedded Network Loss",

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\%.",

keywords = "Decentral-ized energy storage, Energy market, P2P energy trading",

author = "Saini, \{Vikash Kumar\} and Rajesh Kumar and Al-Sumaiti, \{Ameena S.\}",

note = "Publisher Copyright: {\textcopyright} 2022 IEEE.; 10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022 ; Conference date: 14-12-2022 Through 17-12-2022",

year = "2022",

doi = "10.1109/PEDES56012.2022.10080366",

language = "English",

series = "10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022",

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Saini, VK, Kumar, R & Al-Sumaiti, AS 2022, P2P Energy Trading with Decentralized Energy Storage Embedded Network Loss. in 10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022. 10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022, Institute of Electrical and Electronics Engineers Inc., 10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022, Jaipur, India, 14/12/22. https://doi.org/10.1109/PEDES56012.2022.10080366

P2P Energy Trading with Decentralized Energy Storage Embedded Network Loss. / Saini, Vikash Kumar; Kumar, Rajesh; Al-Sumaiti, Ameena S.
10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022. Institute of Electrical and Electronics Engineers Inc., 2022. (10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - P2P Energy Trading with Decentralized Energy Storage Embedded Network Loss

AU - Saini, Vikash Kumar

AU - Kumar, Rajesh

AU - Al-Sumaiti, Ameena S.

PY - 2022

Y1 - 2022

N2 - 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%.

AB - 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%.

KW - Decentral-ized energy storage

KW - Energy market

KW - P2P energy trading

UR - https://www.scopus.com/pages/publications/85152371735

U2 - 10.1109/PEDES56012.2022.10080366

DO - 10.1109/PEDES56012.2022.10080366

M3 - Conference contribution

AN - SCOPUS:85152371735

T3 - 10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022

BT - 10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022

Y2 - 14 December 2022 through 17 December 2022

ER -

Saini VK, Kumar R, Al-Sumaiti AS. P2P Energy Trading with Decentralized Energy Storage Embedded Network Loss. In 10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022. Institute of Electrical and Electronics Engineers Inc. 2022. (10th IEEE International Conference on Power Electronics, Drives and Energy Systems, PEDES 2022). doi: 10.1109/PEDES56012.2022.10080366

P2P Energy Trading with Decentralized Energy Storage Embedded Network Loss

Abstract

Publication series

Conference

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

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