Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities
This paper presents a collated case study on local energy market (LEM) in Australia, in which energy users take part frequently in peer-to-peer (P2P) energy trading among themselves considering the agile presence of energy retailers and distribution utilities. To do so, first, an overview is provide...
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| Format: | Article |
| Language: | English |
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IEEE
2022-01-01
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| Series: | IEEE Access |
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| Online Access: | https://ieeexplore.ieee.org/document/9964210/ |
| _version_ | 1797360170416734208 |
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| author | Liaqat Ali M. Imran Azim Jan Peters Vivek Bhandari Anand Menon Vinod Tiwari Jemma Green S. M. Muyeen |
| author_facet | Liaqat Ali M. Imran Azim Jan Peters Vivek Bhandari Anand Menon Vinod Tiwari Jemma Green S. M. Muyeen |
| author_sort | Liaqat Ali |
| collection | DOAJ |
| description | This paper presents a collated case study on local energy market (LEM) in Australia, in which energy users take part frequently in peer-to-peer (P2P) energy trading among themselves considering the agile presence of energy retailers and distribution utilities. To do so, first, an overview is provided in regard to LEM architecture, trading model with energy retailers, and the blockchain structure. Then, a new P2P trading mechanism is proposed in the LEM that enables both energy users, i.e., sellers and buyers, to reap financial benefits compared to the existing business-as-usual (BAU) model — where local power is exported and imported via feed-in-tariff (FiT) and time-of-use (ToU) rates. The proposed LEM framework also exploits residential battery energy storage systems (RBESSs); and the community battery energy storage systems (CBESSs) to balance local supply and demand appropriately and contributes towards lowering exports/imports from/to power grids by means of bilateral P2P transactions while the inclusion of responsible energy retailers are assured. Moreover, the margins of both energy retailers and distribution utilities are kept unchanged or increased to some extent by the proposed trading model to incorporate them in the LEM framework effectively. Finally, diverse case studies are provided to validate the proposed LEM mechanism with various studied models and demonstrate the superior performance in contrast with the present-day BAU model. |
| first_indexed | 2024-03-08T15:35:24Z |
| format | Article |
| id | doaj.art-3a60afd055a74f0588e9b7a73bcfdaa7 |
| institution | Directory Open Access Journal |
| issn | 2169-3536 |
| language | English |
| last_indexed | 2024-03-08T15:35:24Z |
| publishDate | 2022-01-01 |
| publisher | IEEE |
| record_format | Article |
| series | IEEE Access |
| spelling | doaj.art-3a60afd055a74f0588e9b7a73bcfdaa72024-01-10T00:04:29ZengIEEEIEEE Access2169-35362022-01-011012442912444710.1109/ACCESS.2022.32249369964210Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and UtilitiesLiaqat Ali0https://orcid.org/0000-0003-3501-2872M. Imran Azim1https://orcid.org/0000-0003-1538-3481Jan Peters2Vivek Bhandari3Anand Menon4Vinod Tiwari5Jemma Green6S. M. Muyeen7https://orcid.org/0000-0003-4955-6889Powerledger, Perth, WA, AustraliaPowerledger, Perth, WA, AustraliaPowerledger, Perth, WA, AustraliaPowerledger, Perth, WA, AustraliaPowerledger, Perth, WA, AustraliaPowerledger, Perth, WA, AustraliaPowerledger, Perth, WA, AustraliaDepartment of Electrical Engineering, Qatar University, Doha, QatarThis paper presents a collated case study on local energy market (LEM) in Australia, in which energy users take part frequently in peer-to-peer (P2P) energy trading among themselves considering the agile presence of energy retailers and distribution utilities. To do so, first, an overview is provided in regard to LEM architecture, trading model with energy retailers, and the blockchain structure. Then, a new P2P trading mechanism is proposed in the LEM that enables both energy users, i.e., sellers and buyers, to reap financial benefits compared to the existing business-as-usual (BAU) model — where local power is exported and imported via feed-in-tariff (FiT) and time-of-use (ToU) rates. The proposed LEM framework also exploits residential battery energy storage systems (RBESSs); and the community battery energy storage systems (CBESSs) to balance local supply and demand appropriately and contributes towards lowering exports/imports from/to power grids by means of bilateral P2P transactions while the inclusion of responsible energy retailers are assured. Moreover, the margins of both energy retailers and distribution utilities are kept unchanged or increased to some extent by the proposed trading model to incorporate them in the LEM framework effectively. Finally, diverse case studies are provided to validate the proposed LEM mechanism with various studied models and demonstrate the superior performance in contrast with the present-day BAU model.https://ieeexplore.ieee.org/document/9964210/Blockchaincommunity batterydistribution utilityenergy retailerlocal energy marketpeer-to-peer energy trading |
| spellingShingle | Liaqat Ali M. Imran Azim Jan Peters Vivek Bhandari Anand Menon Vinod Tiwari Jemma Green S. M. Muyeen Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities IEEE Access Blockchain community battery distribution utility energy retailer local energy market peer-to-peer energy trading |
| title | Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities |
| title_full | Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities |
| title_fullStr | Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities |
| title_full_unstemmed | Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities |
| title_short | Blockchain-Based Local Energy Market Enabling P2P Trading: An Australian Collated Case Study on Energy Users, Retailers and Utilities |
| title_sort | blockchain based local energy market enabling p2p trading an australian collated case study on energy users retailers and utilities |
| topic | Blockchain community battery distribution utility energy retailer local energy market peer-to-peer energy trading |
| url | https://ieeexplore.ieee.org/document/9964210/ |
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