Decentralized P2P Energy Trading Under Network Constraints in a Low-Voltage Network

The increasing uptake of distributed energy resources in distribution systems and the rapid advance of technology have established new scenarios in the operation of low-voltage networks. In particular, recent trends in cryptocurrencies and blockchain have led to a proliferation of peer-to-peer (P2P)...

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Bibliographic Details
Published in:IEEE transactions on smart grid 2019-09, Vol.10 (5), p.5163-5173
Main Authors: Guerrero, Jaysson, Chapman, Archie C., Verbic, Gregor
Format: Article
Language:English
Subjects:
blockchain
Cryptography
distributed energy resources
distribution grid
Electric potential
Energy
Energy distribution
Energy exchange
Energy resources
Energy sources
Exchanging
Indexes
local market
Peer to peer computing
Peer-to-peer energy trading
Power systems
Sensitivity analysis
smart grids
Voltage
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Summary:The increasing uptake of distributed energy resources in distribution systems and the rapid advance of technology have established new scenarios in the operation of low-voltage networks. In particular, recent trends in cryptocurrencies and blockchain have led to a proliferation of peer-to-peer (P2P) energy trading schemes, which allow the exchange of energy between the neighbors without any intervention of a conventional intermediary in the transactions. Nevertheless, far too little attention has been paid to the technical constraints of the network under this scenario. A major challenge to implementing P2P energy trading is ensuring network constraints are not violated during the energy exchange. This paper proposes a methodology based on sensitivity analysis to assess the impact of P2P transactions on the network and to guarantee an exchange of energy that does not violate network constraints. The proposed method is tested on a typical U.K. low-voltage network. The results show that our method ensures that energy is exchanged between users under the P2P scheme without violating the network constraints, and that users can still capture the economic benefits of the P2P architecture.
ISSN:1949-3053
1949-3061
DOI:10.1109/TSG.2018.2878445