Feasibility Study of Financial P2P Energy Trading in a Grid-tied Power Network

This paper studies the applicability of peer-to-peer (P2P) energy trading in a grid-tied network. The main objectives are to understand the impact of the financial P2P energy trading on the network operation, and thus demonstrate the importance of taking various issues related to power network into...

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Bibliographic Details
Published in:arXiv.org 2019-09
Main Authors: Azim, M Imran, Pourmousavi, S A, Wayes Tushar, Saha, Tapan K
Format: Article
Language:English
Subjects:
Electric potential
Energy
Feasibility studies
Peer to peer computing
Social networks
Voltage
Online Access:Get full text
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Summary:This paper studies the applicability of peer-to-peer (P2P) energy trading in a grid-tied network. The main objectives are to understand the impact of the financial P2P energy trading on the network operation, and thus demonstrate the importance of taking various issues related to power network into account while designing a practical P2P trading scheme. To do so, a simple mechanism is developed for energy trading among prosumers without considering any network constraints, as done by many existing studies. Once the trading parameters, such as the energy traded by each prosumer in the P2P market and the price per unit of energy are determined, the developed scheme is tested on a low-voltage (LV) network model to check its feasibility of deployment in a real P2P network. It is shown that although the considered trading scheme is economically beneficial to the participating prosumers compared to the existing incentive mechanisms (such as feed-in-tariff), it could be unfit for real deployment due to violating bus voltage limits during multiple P2P trading executed simultaneously. Further, the grid operator may experience financial losses for compensating the losses during P2P transactions.
ISSN:2331-8422