Peer-to-peer energy trading system development in smart grid
In an open electricity market, consumers can decide between buying electricity from retailers of their choice or to buy from utility companies at a regulated tariff. However, consumers with rooftop solar panels and battery energy storage systems, have no tools available for them to directly sell exc...
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| Format: | Final Year Project (FYP) |
| Idioma: | English |
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Nanyang Technological University
2022
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| Accés en línia: | https://hdl.handle.net/10356/157601 |
| _version_ | 1826124686235271168 |
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| author | Ho, Justyn Wee Kit |
| author2 | Gooi Hoay Beng |
| author_facet | Gooi Hoay Beng Ho, Justyn Wee Kit |
| author_sort | Ho, Justyn Wee Kit |
| collection | NTU |
| description | In an open electricity market, consumers can decide between buying electricity from retailers of their choice or to buy from utility companies at a regulated tariff. However, consumers with rooftop solar panels and battery energy storage systems, have no tools available for them to directly sell excess energy to sell to other consumers. For them, peer-to-peer energy trading is one of the promising solutions to implement a decentralized electricity market, which could attract more participants in the future. In the peer-to-peer trading, each consumer negotiates directly with other consumers without any intervention of a conventional intermediary. This project aims to develop a lab-scale peer-to-peer energy trading system for consumers whose assets are connected in a micro grid.
The main objective of the object is to develop a proper market-clearing mechanism for peer-to-peer energy trading between producers and consumers. The market-clearing mechanism should be efficient and set with the objective of energy trading. |
| first_indexed | 2024-10-01T06:24:44Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/157601 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T06:24:44Z |
| publishDate | 2022 |
| publisher | Nanyang Technological University |
| record_format | dspace |
| spelling | ntu-10356/1576012023-07-07T19:33:15Z Peer-to-peer energy trading system development in smart grid Ho, Justyn Wee Kit Gooi Hoay Beng School of Electrical and Electronic Engineering EHBGOOI@ntu.edu.sg Engineering::Electrical and electronic engineering::Electric power::Auxiliaries, applications and electric industries In an open electricity market, consumers can decide between buying electricity from retailers of their choice or to buy from utility companies at a regulated tariff. However, consumers with rooftop solar panels and battery energy storage systems, have no tools available for them to directly sell excess energy to sell to other consumers. For them, peer-to-peer energy trading is one of the promising solutions to implement a decentralized electricity market, which could attract more participants in the future. In the peer-to-peer trading, each consumer negotiates directly with other consumers without any intervention of a conventional intermediary. This project aims to develop a lab-scale peer-to-peer energy trading system for consumers whose assets are connected in a micro grid. The main objective of the object is to develop a proper market-clearing mechanism for peer-to-peer energy trading between producers and consumers. The market-clearing mechanism should be efficient and set with the objective of energy trading. Bachelor of Engineering (Electrical and Electronic Engineering) 2022-05-21T06:51:50Z 2022-05-21T06:51:50Z 2022 Final Year Project (FYP) Ho, J. W. K. (2022). Peer-to-peer energy trading system development in smart grid. Final Year Project (FYP), Nanyang Technological University, Singapore. https://hdl.handle.net/10356/157601 https://hdl.handle.net/10356/157601 en A1056-211 application/pdf Nanyang Technological University |
| spellingShingle | Engineering::Electrical and electronic engineering::Electric power::Auxiliaries, applications and electric industries Ho, Justyn Wee Kit Peer-to-peer energy trading system development in smart grid |
| title | Peer-to-peer energy trading system development in smart grid |
| title_full | Peer-to-peer energy trading system development in smart grid |
| title_fullStr | Peer-to-peer energy trading system development in smart grid |
| title_full_unstemmed | Peer-to-peer energy trading system development in smart grid |
| title_short | Peer-to-peer energy trading system development in smart grid |
| title_sort | peer to peer energy trading system development in smart grid |
| topic | Engineering::Electrical and electronic engineering::Electric power::Auxiliaries, applications and electric industries |
| url | https://hdl.handle.net/10356/157601 |
| work_keys_str_mv | AT hojustynweekit peertopeerenergytradingsystemdevelopmentinsmartgrid |