Peer-to-peer energy trading for improving economic and resilient operation of microgrids. (November 2022)

• Record Type: Journal Article
• Authors: Spiliopoulos, Nikolas; Sarantakos, Ilias; Nikkhah, Saman; Gkizas, George; Giaouris, Damian; Taylor, Phil; Rajarathnam, Uma; Wade, Neal
• Is Part Of: Renewable energy. Volume 199(2022)
• Page Start: 517
• Page End: 535
• Publication Date: 2022-11
• Subjects: Peer-to-Peer exchange -- Microgrids -- Resilience -- Battery degradation; Renewable energy sources -- Periodicals; Power resources -- Periodicals; Énergies renouvelables -- Périodiques; Ressources énergétiques -- Périodiques; 333.794
• DOI: 10.1016/j.renene.2022.08.061
• Languages: English
• ISSNs: 0960-1481

Abstract

Abstract: Peer-to-peer (P2P) energy exchange is a popular market mechanism which enables the transaction of energy in local communities. The advantages of this method for different stakeholders has been demonstrated in the literature. However, the effect of P2P energy exchange on economic and resilient operation of microgrids (MGs) has not been studied yet. This paper presents a P2P energy exchange framework for improving economic and resilient operation of MGs. The proposed method considers the synergistic benefits of system operator and end-users in terms of: a) economic benefit from participation in the market, b) system resilience improvement, c) battery lifetime improvement, and d) carbon emissions reduction. The proposed method optimizes the battery sizing and operation, while categorizing and prioritizing the end-users. In order to evaluate the effectiveness of the proposed method, it has been applied to four different geographical locations with various Time-of-Use tariff schemes, and is tested against different fault scenarios. The results show that the proposed method can improve the resilience up to 80%, while battery lifetime can be prolonged by 32%–37%. Highlights: Peer-to-peer exchange framework in microgrids for resilience. Benefits accrued by network operator and battery owners. Methodology applied to different global locations and tariff structures. Battery size and degradation, as well as network resilience are evaluated.