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Title: Peer-to-Peer Energy Trading in a Prosumer-Based Community Microgrid: A Game-Theoretic Model

Journal Article · · IEEE Translations on Industrial Electronics
ORCiD logo [1]; ORCiD logo [2]; ORCiD logo [3]; ORCiD logo [1]
  1. Nanyang Technological Univ. (Singapore)
  2. National Renewable Energy Lab. (NREL), Golden, CO (United States)
  3. Cardiff Univ. (United Kingdom)
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This paper proposes a novel game-theoretic model for peer-to-peer (P2P) energy trading among the prosumers in a community. The buyers can adjust the energy consumption behavior based on the price and quantity of the energy offered by the sellers. There exist two separate competitions during the trading process: 1) price competition among the sellers; and 2) seller selection competition among the buyers. The price competition among the sellers is modeled as a noncooperative game. The evolutionary game theory is used to model the dynamics of the buyers for selecting sellers. Moreover, an M-leader and N-follower Stackelberg game approach is used to model the interaction between buyers and sellers. Two iterative algorithms are proposed for the implementation of the games such that an equilibrium state exists in each of the games. The proposed method is applied to a small community microgrid with photo-voltaic and energy storage systems. Simulation results show the convergence of the algorithms and the effectiveness of the proposed model to handle P2P energy trading. The results also show that P2P energy trading provides significant financial and technical benefits to the community, and it is emerging as an alternative to cost-intensive energy storage systems.

Research Organization:
National Renewable Energy Laboratory (NREL), Golden, CO (United States)
Sponsoring Organization:
USDOE Office of Energy Efficiency and Renewable Energy (EERE)
Grant/Contract Number:
AC36-08GO28308
OSTI ID:
1514839
Report Number(s):
NREL/JA-5400-73926
Journal Information:
IEEE Translations on Industrial Electronics, Vol. 66, Issue 8; ISSN 0278-0046
Publisher:
IEEECopyright Statement
Country of Publication:
United States
Language:
English
Citation Metrics:
Cited by: 370 works
Citation information provided by
Web of Science

Cited By (5)

A distribution‐market based game‐theoretical model for the coordinated operation of multiple microgrids in active distribution networks journal April 2020
Hierarchical dispatch of multiple microgrids using nodal price: an approach from consensus and replicator dynamics journal June 2019
Distributed Peer-to-Peer Electricity Trading Considering Network Loss in a Distribution System journal November 2019
Towards Flexibility Trading at TSO-DSO-Customer Levels: A Review journal December 2019
Towards Flexibility Trading at TSO-DSO-Customer Levels: A Review text January 2020

Figures / Tables (16)

Fig. 1(p. 2)figure Fig. 1
Fig. 2(p. 4)figure Fig. 2
Algorithm 1(p. 6)figure Algorithm 1
Algorithm 2(p. 7)figure Algorithm 2
Fig. 3(p. 7)figure Fig. 3
Fig. 4(p. 7)figure Fig. 4
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Fig. 8(p. 8)figure Fig. 8
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Fig. 12(p. 9)figure Fig. 12
Fig. 13(p. 9)figure Fig. 13
Table I(p. 9)table Table I

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Related Subjects

24 POWER TRANSMISSION AND DISTRIBUTION
29 ENERGY PLANNING, POLICY, AND ECONOMY
community microgrid
energy storage
game theory
peer-to-peer energy trading
prosumer