Framework of Transactive Energy Market Strategies for Lucrative Peer-to-Peer Energy Transactions

Framework of Transactive Energy Market Strategies for Lucrative Peer-to-Peer Energy Transactions

Blog Article

Leading to the enhancement of Caster Accessories smart grid implementation, the peer-to-peer (P2P) energy transaction concept has grown dramatically in recent years allowing the end-users to successfully exchange their excess generation and demand in a more profitable way.This paper presents local energy market (LEM) architecture with various market strategies for P2P energy trading among a set of end-users (consumers and prosumers) in a smart residential locality.In a P2P fashion, prosumers/consumers can export/import the available generation/demand in the LEM at a profit relative to utility prices.A common portal known as the transactive energy Vitamin Topical Patches market operator (TEMO) is introduced to manage the trading in the LEM.

The goal of the TEMO is to develop a transaction agreement among P2P players by establishing a price for each transaction based on the price and trading demand provided by the participants.A few case studies on a location with ten residential P2P participants validate the performance of the proposed TEMO.