TY - CHAP
T1 - Peer-To-Peer Trading Among Microgrid Prosumers in Local Energy Markets
AU - Zhu, Ziqing
AU - Bu, Siqi
AU - Hu, Qian
N1 - Publisher Copyright:
© 2024 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
PY - 2024/11/1
Y1 - 2024/11/1
N2 - This chapter investigates the transformative potential of Peer-to-Peer
(P2P) trading in local energy markets, emphasizing the role of
distributed energy resources in facilitating efficient market operations
and fostering sustainable energy practices. The text first provides a
foundational understanding of local energy markets, highlighting their
definition and significance, and introduces the emergent concept of P2P
energy trading among prosumers, with a focus on the microgrid and
nanogrid levels. It underscores the advantages of such trading,
including improved energy efficiency, enhanced grid reliability, and the
promotion of renewable energy sources. Further, the chapter delves into
the specifics of P2P ancillary service trading, with particular
attention to frequency regulation support among microgrid and nanogrid
prosumers, exploring its operational benefits and contribution to grid
stability. Advancing the discussion, the text introduces a novel aspect
of P2P markets—the carbon emission auction trading within local energy
spheres. This section probes the theoretical and practical implications
of integrating carbon emission considerations into energy trading and
examines the market mechanisms through which microgrid prosumers might
interact within this innovative paradigm. The chapter is structured into
two principal sections. The first addresses P2P energy and ancillary
service trading among nanogrid prosumers within a microgrid setting,
focusing on real-time market operations for energy balancing and
frequency regulation. The second section examines the interconnections
between P2P energy, ancillary service, and carbon emission quota trading
among multiple microgrid prosumers, presenting advanced modeling
techniques and algorithms such as the multi-agent deep deterministic
policy gradient for strategy optimization and risk mitigation. The
chapter concludes with a synthesis of the explored concepts, reinforcing
the significance of P2P trading in advancing the decarbonization of
local energy markets and its potential for incentivizing the adoption of
green technologies. It offers insights into the market structures,
strategic behaviors of prosumers, and the envisioned impact on the
overarching energy landscape.
AB - This chapter investigates the transformative potential of Peer-to-Peer
(P2P) trading in local energy markets, emphasizing the role of
distributed energy resources in facilitating efficient market operations
and fostering sustainable energy practices. The text first provides a
foundational understanding of local energy markets, highlighting their
definition and significance, and introduces the emergent concept of P2P
energy trading among prosumers, with a focus on the microgrid and
nanogrid levels. It underscores the advantages of such trading,
including improved energy efficiency, enhanced grid reliability, and the
promotion of renewable energy sources. Further, the chapter delves into
the specifics of P2P ancillary service trading, with particular
attention to frequency regulation support among microgrid and nanogrid
prosumers, exploring its operational benefits and contribution to grid
stability. Advancing the discussion, the text introduces a novel aspect
of P2P markets—the carbon emission auction trading within local energy
spheres. This section probes the theoretical and practical implications
of integrating carbon emission considerations into energy trading and
examines the market mechanisms through which microgrid prosumers might
interact within this innovative paradigm. The chapter is structured into
two principal sections. The first addresses P2P energy and ancillary
service trading among nanogrid prosumers within a microgrid setting,
focusing on real-time market operations for energy balancing and
frequency regulation. The second section examines the interconnections
between P2P energy, ancillary service, and carbon emission quota trading
among multiple microgrid prosumers, presenting advanced modeling
techniques and algorithms such as the multi-agent deep deterministic
policy gradient for strategy optimization and risk mitigation. The
chapter concludes with a synthesis of the explored concepts, reinforcing
the significance of P2P trading in advancing the decarbonization of
local energy markets and its potential for incentivizing the adoption of
green technologies. It offers insights into the market structures,
strategic behaviors of prosumers, and the envisioned impact on the
overarching energy landscape.
KW - Ancillary services
KW - Carbon emission trading
KW - Distributed Energy Resources (DERs)
KW - Energy trading
KW - Local energy markets
KW - Peer-to-Peer (P2P) Trading
UR - http://www.scopus.com/inward/record.url?scp=85210578929&partnerID=8YFLogxK
U2 - 10.1007/978-981-97-6623-9_11
DO - 10.1007/978-981-97-6623-9_11
M3 - Chapter
AN - SCOPUS:85210578929
SN - 9789819766222
SN - 9789819766253
T3 - Power Systems
SP - 297
EP - 345
BT - Microgrids and Virtual Power Plants
A2 - Shahnia, Farhad
A2 - Guerrero, Josep M.
PB - Springer
CY - Singapore
ER -
