A Review of Peer-to-Peer Energy Trading Markets: Enabling Models and Technologies
This paper presents a detailed review of the existing literature on peer-to-peer (P2P) energy trading considering market architectures, trading strategies, and enabling technologies. P2P energy trading enables individual users in the electricity network to act as sellers or buyers and trade energy a...
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| Format: | Article |
| Language: | English |
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MDPI AG
2024-04-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/17/7/1702 |
| _version_ | 1797212613637046272 |
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| author | Shama Naz Islam |
| author_facet | Shama Naz Islam |
| author_sort | Shama Naz Islam |
| collection | DOAJ |
| description | This paper presents a detailed review of the existing literature on peer-to-peer (P2P) energy trading considering market architectures, trading strategies, and enabling technologies. P2P energy trading enables individual users in the electricity network to act as sellers or buyers and trade energy among each other. To facilitate the discussion on different aspects of P2P energy trading, this paper focuses on P2P market mechanisms, relevant bidding strategies, and auction models. In addition, to solve the energy management problems associated with P2P energy trading, this paper investigates widely used solution methods such as game-theoretic models, mathematical optimisation, as well as more recent machine learning techniques and evaluates them in a critical manner. The outcomes of this investigation along with the identification of the challenges and limitations will allow researchers to find suitable P2P energy trading mechanisms based on different market contexts. Moreover, the discussions on potential future research directions are expected to improve the effectiveness of P2P energy trading technologies. |
| first_indexed | 2024-04-24T10:45:10Z |
| format | Article |
| id | doaj.art-10610d3ced8e48449ffbc5e5b134a766 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-04-24T10:45:10Z |
| publishDate | 2024-04-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-10610d3ced8e48449ffbc5e5b134a7662024-04-12T13:18:07ZengMDPI AGEnergies1996-10732024-04-01177170210.3390/en17071702A Review of Peer-to-Peer Energy Trading Markets: Enabling Models and TechnologiesShama Naz Islam0School of Engineering, Deakin University, Geelong, VIC 3216, AustraliaThis paper presents a detailed review of the existing literature on peer-to-peer (P2P) energy trading considering market architectures, trading strategies, and enabling technologies. P2P energy trading enables individual users in the electricity network to act as sellers or buyers and trade energy among each other. To facilitate the discussion on different aspects of P2P energy trading, this paper focuses on P2P market mechanisms, relevant bidding strategies, and auction models. In addition, to solve the energy management problems associated with P2P energy trading, this paper investigates widely used solution methods such as game-theoretic models, mathematical optimisation, as well as more recent machine learning techniques and evaluates them in a critical manner. The outcomes of this investigation along with the identification of the challenges and limitations will allow researchers to find suitable P2P energy trading mechanisms based on different market contexts. Moreover, the discussions on potential future research directions are expected to improve the effectiveness of P2P energy trading technologies.https://www.mdpi.com/1996-1073/17/7/1702peer-to-peer energy tradingdistributed energy resourcesbiddinggame theorymathematical optimisation |
| spellingShingle | Shama Naz Islam A Review of Peer-to-Peer Energy Trading Markets: Enabling Models and Technologies Energies peer-to-peer energy trading distributed energy resources bidding game theory mathematical optimisation |
| title | A Review of Peer-to-Peer Energy Trading Markets: Enabling Models and Technologies |
| title_full | A Review of Peer-to-Peer Energy Trading Markets: Enabling Models and Technologies |
| title_fullStr | A Review of Peer-to-Peer Energy Trading Markets: Enabling Models and Technologies |
| title_full_unstemmed | A Review of Peer-to-Peer Energy Trading Markets: Enabling Models and Technologies |
| title_short | A Review of Peer-to-Peer Energy Trading Markets: Enabling Models and Technologies |
| title_sort | review of peer to peer energy trading markets enabling models and technologies |
| topic | peer-to-peer energy trading distributed energy resources bidding game theory mathematical optimisation |
| url | https://www.mdpi.com/1996-1073/17/7/1702 |
| work_keys_str_mv | AT shamanazislam areviewofpeertopeerenergytradingmarketsenablingmodelsandtechnologies AT shamanazislam reviewofpeertopeerenergytradingmarketsenablingmodelsandtechnologies |